421 N 23rd St. McAllen, TX 78501

Marcus & Millichap is pleased to present 421 N 23RD, a 60,000 square foot industrial warehouse property in McAllen, Texas. The property is a mid-century constructed, brick and mortar structure with arched, wooden roofs of immaculate design. 421 N 23RD was original built in 1949 as a manufacturing warehouse for garments, then lumber, and currently as a distribution warehouse for International Paper who has been a tenant since 1995. International Paper is currently in their 7th lease extension of which their terms are historically short. In addition to the warehouse exists an adjacent 1.75 acre parcel that is currently being leased by a car repair and sales shop on a month-to-month basis. 421 N 23RD offers incredible opportunities such as: restructuring of current tenant agreements or replacement in the near term; an owner/user situation for distribution, warehousing, retail, and other uses; or possibly a full redevelopment of the site (3.82 acres) for highest and best possible uses in a fast evolving Rio Grande Valley city of McAllen, Texas.