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$350,000

700 S Main St, McAllen, TX, 78501

On MarketInfo
Beds— Beds
Baths— Bath
Baths2,400 Sq Ft
price_per_sqft$145.83 / sqft
Year BuiltBuilt in 1982

Property Lead Type:

Absentee Owner

Highlights

Interior

Bedrooms —Bedrooms —
Bathrooms —Bathrooms —
Heating CentralHeating Central
CoolingCooling
AppliancesElectric Water Heater
FlooringTile

Exterior

Lot Size3,498 sqft

Building Information

Year Built1982
Stories1
Roof Type183
Garage Spaces8

Land Information

APNM1950-00-060-0006-01
SubdivisionMcallen Addition
Land UseCommercial
Legal DescriptionMCALLEN ADDITION LOT N 1/2 OF 6 BLK 60
Census Tract021100
Assessed Land Value$70,000
Assessed Improvement Value$105,000
Assessment Year2025

About this property

This excellent downtown property is located only minutes away from South 10th street and is situated directly across from McAllen City Hall. Currently 100% occupied, this income producing commercial building has two units with stable and long-term Tenants. The unit facing Main St. is a restaurant equipped with dining area and kitchen, and the rear space is currently leased to an office tenant. Located in downtown McAllen, this building is a short drive from the Expressway and the upcoming retail and community center. With an excellent location, strong price, and seller financing, this is an excellent opportunity for the investor or end-user.

Investor Tools

$133,938Estimated Mortgage Balance
$42,453Estimated Equity
23% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,100 /month
Positive
Cash Flow Estimate:
$700 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$333/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,126
$175,000
2025
$70,000
$105,000
$175,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,126
$175,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
International Bank
Unknown
$166,000
No
First
Feb 6, 2017
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$133,938
$41,062
23%
77%
$996/mo

City: McAllen

700 S Main St | Property Details | No Agent List