2029 23Rd StMcAllen, TX 78501

Property Details for 2029 23Rd St

Year built

1997

Lot size

0.67 AC

Property size (Sq ft)

1,800 SF

Zone code

CO

Property type

Auto shops

APN

L3555-00-000-002A-00

APU

L355500000002A00

Description

This exceptional 900-square-foot commercial property, situated on a 0.67-acre lot at 2029 N 23rd Street in McAllen, Texas, presents a compelling investment opportunity. Currently operating as a thriving auto sales and mechanics shop, the property benefits from its prime central location, ensuring high visibility and accessibility. The building's 900 square feet provide ample space for various commercial uses, making it adaptable to a range of businesses. The substantial 0.67-acre lot offers significant potential for expansion or future development, catering to the needs of a growing enterprise. McAllen's robust economy and burgeoning population make this a particularly attractive investment in a dynamic and thriving Texas city. The property's current use as an auto sales and mechanics shop demonstrates its suitability for businesses requiring ample space and convenient access. This location offers significant potential for continued success and strong returns on investment. The property is priced at $895,000, reflecting its prime location and considerable potential. This is a rare opportunity to acquire a well-established commercial property in a high-demand area of McAllen. Don't miss this chance to secure a valuable asset in a rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $363,614

  6.5%

  $335,644

  7%

  $311,669

• Comparable approach

  Method

  Valuation

  Relative Method

  $391,145

  Geo Method

  $1,030,897

• Alternative Use

  Use

  Valuation

  Residential

  $283,128

  Hospitality

  $259,344

  Educational

  $215,771

  Medical

  $223,192

  Retail

  $335,644

Location Insight

City

Mcallen

County

Hidalgo

State

Texas

Latitude

26.2244

Longitude

-98.2426

CBSA code

32580

CBSA name

MCALLEN-EDINBURG-MISSION, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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