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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7400 23Rd St McAllen, TX 78504

    • Commercial real estate
    • 0.93 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1511132
    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

    • Commercial real estate

    Property Details for 7400 23Rd St

    Lot size
    0.93 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.93-acre commercial lot, located at 7400 N 23rd St in McAllen, Texas (Hidalgo County, zip code 78504), presents a remarkable investment opportunity. Zoned C3 (General Commercial), this pad site offers approximately 40,678 square feet of buildable land with excellent frontage along N 23rd Street, measuring approximately 153.50 feet. The property benefits from its strategic location just west of 10th Street and Trenton Road, within a thriving commercial area boasting numerous retail, dining, and service businesses, ensuring high visibility and consistent consumer traffic. High traffic counts are a key feature, with Trenton Road registering 28,365 vehicles per day and N 23rd Street seeing 17,154 vehicles per day. Utilities are on-site, allowing for immediate development. Convenient access is further enhanced by a rear access easement. This property is ready for immediate development and represents an exceptional chance to establish a thriving commercial venture in a high-demand location. The property is ideal for a variety of commercial uses given its size and zoning.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    McAllen
    County
    Hidalgo
    State
    Texas
    Longitude
    -98.234243191804
    Latitude
    26.271607960045

    Comparable in this City

    • $395,000

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    • $391,500
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      McAllen Commercial Lot: Prime Location

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      Prime Texas land, 6,960 sq ft building, ideal for church.
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    • $391,500
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      McAllen Commercial Land - $391,500

      0.62-acre lot, ready to build.
      9 Buddy Owens Blvd, McAllen, TX 78504
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    • $2,500,000
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      McAllen Commercial Land - $2.5M

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      0 Mccoll Rd, McAllen, TX 78504
      View Details

    Similar Nearby for Sale

    • $395,000

      McAllen Commercial Land - $395K

      High-visibility lot, ideal for development.
      1425 State Highway 107, McAllen, TX 78504
      View Details
    • $179,900
      0.39 Acres

      McAllen Commercial Land - $179,900

      Prime McAllen commercial lot, ideal for development.
      6800 Ware Rd, McAllen, TX 78504
      View Details
    • $391,500
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      McAllen Commercial Lot: Prime Location

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      5 Buddy Owens Blvd, McAllen, TX 78504
      View Details
    • $875,000
      6,960 SF

      McAllen Commercial Land - $875K

      Prime Texas land, 6,960 sq ft building, ideal for church.
      2030 Orchid Ave, McAllen, TX 78504
      View Details
    • $391,500
      0.62 Acres

      McAllen Commercial Land - $391,500

      0.62-acre lot, ready to build.
      9 Buddy Owens Blvd, McAllen, TX 78504
      View Details
    • $2,500,000
      1.95 Acres

      McAllen Commercial Land - $2.5M

      1.946 Acres, Prime North McAllen Location
      0 Mccoll Rd, McAllen, TX 78504
      View Details

    Similar Nearby for Lease

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      McAllen Executive Office Space

      Prime McAllen Office, 53,651 sq ft
      5401 10Th St, McAllen, TX 78504
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    • $26 SF/Yr
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      McAllen Commercial Land & Building

      Prime McAllen location; versatile commercial space.
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      McAllen Commercial Land & Building

      Prime McAllen location, 1.45 acres, 1320 sq ft.
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    7400 23Rd St
    McAllen, TX 78504
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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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