300 Main StMcAllen, TX 78501

For Sale
$5,800,000
Downtown McAllen gem, 50,000 sq ft, high potential.

Overview

Added:
Dec 11, 2024
Days on market:
126
The M. & J. Nelson Building, a three-story, 50,000 square foot mixed-use property located at 300 S Main St, McAllen, TX 78501, presents a unique investment opportunity. This Core+ investment, currently 50% occupied, offers 50,000 square feet of net rentable space, priced at $116 per square foot for a total asking price of $5,800,000. Situated on a 0.4-acre lot in the heart of downtown McAllen, this historically significant building, originally constructed in 1949, boasts a prime location near McAllen City Hall, ensuring high visibility and accessibility. The flexible floor plans allow for diverse tenant needs and customization. The building's commercial zoning permits a variety of uses, including retail, office, special purpose, and hotel spaces. The existing rental income provides a stable foundation for future growth, with significant potential for increased revenue through strategic redevelopment of the third floor. This property offers a blend of historical charm and modern adaptability, making it an exceptional investment opportunity in a thriving downtown area. The building's rich history and prime location create a compelling opportunity for a savvy investor to capitalize on the revitalization of downtown McAllen.

Highlights

  • Three-story, 50,000 square foot mixed-use building in downtown McAllen, TX.
  • 50% occupied, offering 50,000 square feet of net rentable space.
  • Asking price: $5,800,000 ($116/SF).
  • Located on a 0.4-acre lot near McAllen City Hall.
  • Commercial zoning allows for retail, office, special purpose, and hotel uses.
  • Significant redevelopment potential, particularly on the third floor.

Property Details for 300 Main St

Property type
Mixed-use properties
Square Feet
50,000 SF
Stories
3

Location Insight

City
McAllen
County
Hidalgo
State
Texas
Latitude
26.20143301618
Longitude
-98.23487420289
300 Main St, McAllen, Texas

FAQs

What type of property is this?
Mixed-use property - Downtown McAllen gem, 50,000 sq ft, high potential.
Where is the mixed-use property located?
The property is located at 300 Main St McAllen, TX.
What is the asking price?
The asking price for this property is $5,800,000.
What are key features of this property?
This property features: Three-story, 50,000 square foot mixed-use building in downtown McAllen, TX.; 50% occupied, offering 50,000 square feet of net rentable space.; Asking price: $5,800,000 ($116/SF).
How can I contact the broker?
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300 Main St
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