Mixed-Use Property with Atrium
For Sale
$350,000
1801-1805 E HARRISON AVE., Harlingen, TX 78550
Commercial Sale, HARLINGEN, TX
Property Size3,465 SF
Lot Size0.30 Acres
Price / SF$101.01
Days on Market94
Property Features for 1801-1805 E HARRISON AVE.
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
MST
Standard status
Active
Size
3,465 SF
Lot size
0.30 Acres
Amenities
atrium-style setting
storage areas
breakroom
laundry room
Building Details
Year built
1984
Floors in Building
1
Listing Agency:
EXP Realty, LLC
(888) 519-7431
Listed By:
TANA SPRINGER · License #0647140
(956) 792-0520
Added: Jun 24
Changed: Sep 5
Last Checked: Sep 25 at 10:06PM
MLS# 29777421
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,465-square-foot mixed-use property, built in 1984, combines a professional office area with a separate apartment-style residence. The office configuration includes a reception area, front desk, private office, two treatment rooms, storage, two bathrooms, breakroom, and laundry room. Floor-to-ceiling windows in the treatment rooms overlook an atrium-style setting. The residential portion provides a living area, kitchen, bedroom, and full bathroom, allowing the two areas to remain separate or operate together.
The property is located at 1801-1805 E. Harrison Ave. in Harlingen, Texas, on a 0.2984-acre parcel. Parking is available at the front and rear, and the improvements include a 2-car garage. The space is currently used as a chiropractic office and has previously accommodated a title company, with the layout also identified for medical, dental, wellness, legal, and financial uses.
The property is located at 1801-1805 E. Harrison Ave. in Harlingen, Texas, on a 0.2984-acre parcel. Parking is available at the front and rear, and the improvements include a 2-car garage. The space is currently used as a chiropractic office and has previously accommodated a title company, with the layout also identified for medical, dental, wellness, legal, and financial uses.
Key Highlights
- 3,465 square feet on a 0.2984‑acre parcel
- Separate office and apartment‑style residential areas
- Two treatment rooms with floor‑to‑ceiling windows overlooking an atrium‑style setting
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,809
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$636,180
$636.2K
Cap Rate 7%
$454,414
$454.4K
Cap Rate 9%
$353,433
$353.4K
Market Conditions
NOI Build-Up for 3,465 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$62.4K $18.00/SF
− Vacancy
−$20.0K −$5.76/SF
EGI
$42.4K $12.24/SF
− OpEx
−$10.6K −$3.06/SF
NOI
$31.8K $9.18/SF
Area
Cameron County, TX
Vacancy
32.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$636,180
Cap Rate 7%
$454,414
Cap Rate 9%
$353,433
Alternative Uses
Best Use
Healthcare Medical
$596.6K
$522.0K – $696.1K
NOI $41,763 @ 7.0% cap · market cap 11.93%
Second Best
Mixed Use
$501.2K
$438.5K – $584.7K
NOI $35,083 @ 7.0% cap · market cap 10.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Explore this area
Business Placement
Demographics for 78550, TX
56,038
Population
22,347
Households
2.5
Avg Household Size
35
Median Age
22%
College-Educated
77%
High-School Grad
94.2 sq mi
ZIP Area
595
Density / Sq Mi
$51,524
Median Household Income
$32,065
Median Earnings
$863
Median Rent
$120,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate professional and residential areas support flexible occupancy and independent use.
Where is this mixed-use property located?
The property is located at 1801-1805 E HARRISON AVE. Harlingen, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 3,465 square feet on a 0.2984‑acre parcel; Separate office and apartment‑style residential areas; Two treatment rooms with floor‑to‑ceiling windows overlooking an atrium‑style setting
