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    Property profile & analytics

    6324 23rd St Mcallen, TX 78503-8909

    • Strip malls
    • 11,896 SF
    • 2.46 lot acres
    OFF-MARKET
    Value Estimations
    $690,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4382262
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Medical Export Services LLC / Corporate Office
    • Ice Dragon Express / Auto Repair Shop

    Property Details for 6324 23rd St

    Year built
    1983
    Lot size
    2.46 lot acres
    Property size
    11,896 SF
    Zone code
    CG
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    O7550-00-000-000A-00
    APU
    O755000000000A00

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $515,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $868,000
      Market price range: $522k - $1.43M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $980,000
      Current use
      RESTAURANT
      $1,035,000
      Change: +6% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2548
    Latitude
    26.1512
    CBSA code
    32580
    CBSA name
    MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $30,000
    $1,125,012
    $374,988
    $1,500,000
    -
    $1,125,012
    $374,988
    $1,500,000

    Comparable in this City

    • Value Estimation
      $1,035,000
      7,875 SF

      400 Expy 83

      SHOPPING CENTER, STRIP CENTER • 7,875 SF
      400 Expy 83, Mcallen, TX 78503-1620
      View Details
    • Value Estimation
      $2,600,000
      103,428 SF

      1800 Main St

      SHOPPING CENTER, STRIP CENTER • 103,428 SF
      1800 Main St, Mcallen, TX 78503-5441
      View Details
    • Value Estimation
      $1,860,000
      33,456 SF

      4037 Expy 83

      SHOPPING CENTER, STRIP CENTER • 33,456 SF
      4037 Expy 83, Mcallen, TX 78503-2101
      View Details
    • Value Estimation
      $520,000
      13,500 SF

      2600 23rd St

      SHOPPING CENTER, STRIP CENTER • 13,500 SF
      2600 23rd St, Mcallen, TX 78503-5668
      View Details
    • Value Estimation by Request
      2,084 SF

      2109 10th St

      SHOPPING CENTER, STRIP CENTER • 2,084 SF
      2109 10th St, Mcallen, TX 78503-5499
      View Details
    • Value Estimation by Request
      2,125 SF

      10th

      SHOPPING CENTER, STRIP CENTER • 2,125 SF
      10th, Mcallen, TX 78503
      View Details

    Similar Nearby for Sale

    • $375,000

      Retail Space in Bustling Center

      1,869 sqft retail space in a thriving commercial hub.
      4037 W Expressway 83, McAllen, TX 78503
      View Details
    • $5,000,000
      13,585 SF

      Established Restaurant in High Traffic

      Well-established restaurant in McAllen, TX, near hotels and airport.
      601 Expressway 83 W, McAllen, TX 78503
      View Details
    • $425,000
      3,850 SF

      Established Automotive Shop Opportunity

      Long-standing auto mechanic shop available for sale.
      215 N 2Nd St, McAllen, TX 78503
      View Details
    • Contact for pricing

      Sharyland Flex Office/Industrial Space

      Flexible spaces in Sharyland Business Park with Military Highway frontage.
      4600 W Military Hwy, McAllen, TX 78503
      View Details
    • $62,500
      Pending

      Land in McAllen, Texas

      Land for townhome community near airport, mall, and restaurants.
      38 S K Ln, McAllen, TX 78503
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    • $67,500
      Pending

      Land in McAllen, Texas

      Land for townhome community near airport, mall, and restaurants.
      S K Center St, McAllen, TX 78503
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      21,500 SF

      Prime Retail Space in McAllen

      High-visibility retail space available in a busy McAllen center.
      2017 C St, McAllen, TX 78503
      View Details
    • Contact for pricing
      6,000 SF

      Mixed-Use Lifestyle Center Available

      Mixed-use center with retail, restaurant, and entertainment options.
      3401 Expressway 83 W, McAllen, TX 78503
      View Details
    • Contact for pricing
      12,500 SF

      Mixed-Use Lifestyle Center Available

      Mixed-use center with retail, restaurant, and entertainment options.
      3501 Expressway 83 W, McAllen, TX 78503
      View Details
    • $15 SF/Yr
      14,072 SF

      McAllen Retail Plaza Space Available

      Retail and medical office spaces for lease near Expressway 83.
      2000 S Mccoll Rd, McAllen, TX 78503
      View Details
    • $18 SF/Yr

      McAllen Retail Space For Lease

      Retail spaces for lease in high-traffic McAllen location.
      1328 S Jackson Rd, McAllen, TX 78503
      View Details
    • Contact for pricing
      287,952 SF

      McAllen Retail Center Investment Opportunity

      High-traffic retail space, McAllen, TX.
      0 Us Hwy 83 & Mccoll Rd, McAllen, TX 78503
      View Details
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    6324 23rd St
    Mcallen, TX 78503-8909
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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