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NORTHWEST HARDCORNER W/ NEIGHBORHOOD CENTER 6324 S 23rd St 16,478 SF 100% Leased Retail Building McAllen, TX 78503 $3,852,296 CAD ($233.78 CAD/SF) 5.66% Cap Rate
Investment Highlights
- HARDCORNER
- GOOD RENTAL HISTORY
- INDUSTRIAL AREA
Executive Summary
Prime Rental Opportunity in South McAllen- Situated on a highly visible hard corner in the rapidly expanding industrial hub of South McAllen, this well-established plaza offers an exceptional rental history. Just minutes from the McAllen/Reynosa Bridge, the property spans approximately 2.4+/- acres and features a 12,000+/- sq. ft. building with additional storage space utilized by tenants. With a strong history of consistent rent rolls, the plaza is home to a diverse mix of successful businesses, including a convenience store, restaurant, check cashing office, bar, and more. This property presents a unique investment opportunity in a high-demand location with proven tenant retention. OTHER FEATURES: Natural Gas, 2000gal Grease Trap (services 3 suites), bathroom areas are considered common areas C-store and check cash company), Owner has rent rolls on file will be delivered upon offer/LOI
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$288,922
|
$17.53
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$288,922
|
$17.53
|
| Taxes |
$53,464
|
$3.24
|
| Operating Expenses |
$17,198
|
$1.04
|
| Total Expenses |
$70,662
|
$4.29
|
| Net Operating Income |
$218,260
|
$13.25
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $288,922 |
| Annual Per SF | $17.53 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $288,922 |
| Annual Per SF | $17.53 |
| Taxes (CAD) | |
|---|---|
| Annual | $53,464 |
| Annual Per SF | $3.24 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $17,198 |
| Annual Per SF | $1.04 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $70,662 |
| Annual Per SF | $4.29 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $218,260 |
| Annual Per SF | $13.25 |
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Deferred Maintenance
Property Type
Retail
Property Subtype
Building Size
16,478 SF
Building Class
C
Year Built
1983
Price
$3,852,296 CAD
Price Per SF
$233.78 CAD
Cap Rate
5.66%
NOI
$218,040 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
2.47 AC
Opportunity Zone
Yes
Zoning
COMMERCIAL MIX - CURRENT TENANT(S) C-STORE, RESTRAURANT, TRUCK BROKER OFFICE, CHECK&CASH OFFICE, BAR/CLUB
Frontage
300’ on 23RD STREET
Amenities
- Corner Lot
- Courtyard
- Freeway Visibility
- Restaurant
- Signage
- Signalized Intersection
- Storage Space
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | O7550-00-000-000A-00 | Total Assessment | $2,036,214 CAD (2025) |
| Land Assessment | $1,547,814 CAD (2025) | Annual Taxes | $53,464 CAD ($3.24 CAD/SF) |
| Improvements Assessment | $488,400 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
O7550-00-000-000A-00
Land Assessment
$1,547,814 CAD (2025)
Improvements Assessment
$488,400 CAD (2025)
Total Assessment
$2,036,214 CAD (2025)
Annual Taxes
$53,464 CAD ($3.24 CAD/SF)
Tax Year
2024
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NORTHWEST HARDCORNER W/ NEIGHBORHOOD CENTER | 6324 S 23rd St
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