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    Property profile & analytics

    708 Expressway 83 McAllen, TX 78503

    • Showrooms
    • 132,826 SF
    • 10.67 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3358648
    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

    • CVS Pharmacy / Pharmacy
    • Target Mobile / Mobile Phone Store / Electronics & Wireless Store
    • Coinhub Bitcoin ATM Teller / Atm
    • CVS / Pharmacy
    • R Ichard Ruesch / Pharmacy

    Property Details for 708 Expressway 83

    Year built
    1992
    Lot size
    10.67 lot acres
    Property size
    132,826 SF
    Property type
    Showrooms
    APN
    C7883-01-000-0002-00
    APU
    C788301000000200

    Description

    Las Tiendas Shopping Center offers exceptional retail space in McAllen, Texas. This prime location boasts 4,534 square feet of completely vacant, multi-tenant retail space available for lease, situated within a thriving shopping center anchored by Target. The property is conveniently located at 708 E Expressway 83, McAllen, TX 78503, at the high-traffic intersection of US Highway 83 and McColl Road in Hidalgo County. Flexible space options are available, ranging from a minimum of 1,534 square feet to a maximum contiguous space of 3,000 square feet, providing adaptability for various business needs. Whether you require an in-line space or an end-cap pad site, this property offers excellent visibility and accessibility for attracting customers. The property's strategic location within a well-established shopping center ensures high foot traffic and exposure to a large customer base. This presents a unique opportunity for businesses seeking a prominent retail presence in a dynamic and growing market. The entire 4,534 square feet is currently vacant, allowing for a single tenant to occupy the entire space or for multiple tenants to lease individual units. This versatile property is ideal for a variety of retail businesses seeking a high-visibility location in McAllen, Texas.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $15,198,000
      Market price range: $4.25M - $26.5M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $15,170,000
      Current use
      WAREHOUSE, STORAGE
      $15,685,000
      Change: +3% Conversion: Difficult
      MEDICAL BUILDING
      $15,470,000
      Change: +2% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Mcallen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.2134
    Latitude
    26.1867
    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
    $222,171
    $6,228,119
    $4,415,824
    $10,643,943
    -
    $6,228,119
    $4,415,824
    $10,643,943

    Comparable in this City

    • Value Estimation
      $2,865,000
      15,000 SF

      1815 10th St

      SHOW ROOM, WAREHOUSE • 15,000 SF
      1815 10th St, Mcallen, TX 78503-5401
      View Details
    • Value Estimation
      $7,325,000
      78,116 SF

      1602 23rd St

      SHOW ROOM, WAREHOUSE • 78,116 SF
      1602 23rd St, Mcallen, TX 78503-5649
      View Details
    • Value Estimation by Request
      5,238 SF

      4400 23rd St

      SHOW ROOM, WAREHOUSE • 5,238 SF
      4400 23rd St, Mcallen, TX 78503-7564
      View Details
    • Value Estimation
      $1,015,000
      9,016 SF

      4100 Ware Rd

      SHOW ROOM, WAREHOUSE • 9,016 SF
      4100 Ware Rd, Mcallen, TX 78503-7787
      View Details
    • Value Estimation
      $11,775,000
      121,322 SF

      1200 Expy 83

      SHOW ROOM, WAREHOUSE • 121,322 SF
      1200 Expy 83, Mcallen, TX 78503-1618
      View Details
    • Value Estimation
      $23,500,000
      142,663 SF

      1400 Jackson Ave

      SHOW ROOM, WAREHOUSE • 142,663 SF
      1400 Jackson Ave, Mcallen, TX 78503-1601
      View Details

    Similar Nearby for Sale

    • $375,000

      Retail Space in Bustling Center

      1,869 sqft retail space in a thriving commercial hub.
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      Established Restaurant in High Traffic

      Well-established restaurant in McAllen, TX, near hotels and airport.
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    • $600,000
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      McAllen Commercial Land - Ready to Build

      Prime McAllen location, 11,936 sq ft, near expressway.
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      McAllen Retail Plaza - High Traffic Area

      Prime Retail Space, High Visibility, Income Potential
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    • Contact for pricing

      Sharyland Flex Office/Industrial Space

      Flexible spaces in Sharyland Business Park with Military Highway frontage.
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    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
    • $11,122 /Mo

      Restaurant Space Near La Plaza

      Restaurant space for rent in front of a major mall.
      2011 S 10Th St, McAllen, TX 78503
      View Details
    • $1,600 /Mo
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      Hotel Storefront Opportunity in McAllen

      Commercial space in high-traffic hotel, ideal for retail.
      2000 S 10Th St, McAllen, TX 78503
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    • $1,950 /Mo
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      Retail Space in High-Traffic Plaza

      960 SF retail suite in thriving McAllen commercial corridor.
      1410 S Jackson Rd, McAllen, TX 78503
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    • $32 SF/Yr
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      Retail Space in High-Traffic Area

      New retail development near Expressway 83, ideal for various businesses.
      4201 W Expy 83 Hwy, McAllen, TX 78503
      View Details
    • $6,250 /Mo
      2,400 SF

      Hidalgo Commercial Space For Rent

      Custom-built commercial space in high-traffic area, ideal for various businesses.
      2345 Military Hwy, McAllen, TX 78503
      View Details
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    708 Expressway 83
    McAllen, TX 78503
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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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