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516-518 S Broadway St 5,000 SF 100% Leased Office Building McAllen, TX 78501 $700,000 ($140/SF)
INVESTMENT HIGHLIGHTS
- Located in the Busy Downtown Area
- Proximity to I-69 & Business Hwy. 83
EXECUTIVE SUMMARY
The property consists of two unoccupied office spaces totaling 5,000 sf on 7,000 sf of land. This was a downtown office location that is just over a block north of McAllen City Hall and just north of the Mexican Consulate, and one-half block north of the Honduras, El Salvador, and Guatemala Consulates. Across the street is a law office and other professional offices. This is a well-established location in the McAllen CBD. The building has a new roof. Suite 516 is currently a shell space and could be converted to storage or back to office or retail. Suite 518 was retail/office in the front and storage in the back. The new conceptual layout presents an idea for a multi-tenant renovation catering to the marketplace. Although there is some parking in the rear of the building there are 32 parking spaces in the City Parking Lot B. The staff can apply for a free Downtown Service
Parking Decal to eliminate paying the meter. We have attached the procedures to the flyer/brochure.
Parking Decal to eliminate paying the meter. We have attached the procedures to the flyer/brochure.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
5,000 SF
Building Class
C
Year Built
1980
Price
$700,000
Price Per SF
$140
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,000 SF
Building FAR
0.70
Lot Size
0.16 AC
Zoning
C-3 - General Business
1 1
Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | M1950-00-045-0002-00 | Improvements Assessment | $121,720 |
| Land Assessment | $117,325 | Total Assessment | $239,045 |
PROPERTY TAXES
Parcel Number
M1950-00-045-0002-00
Land Assessment
$117,325
Improvements Assessment
$121,720
Total Assessment
$239,045
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516-518 S Broadway St
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