Five-Suite Strip
For Sale
$780,000
604 S 77 SUNSHINE STRIP, Harlingen, TX 78550
Commercial Sale, HARLINGEN, TX
Property Size5,658 SF
Lot Size0.28 Acres
Price / SF$137.86
Days on Market74
Property Features for 604 S 77 SUNSHINE STRIP
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
WINDSOR PLACE
Standard status
Active
Lot size
0.28 Acres
Building Details
Year built
1984
Floors in Building
1
Listing Agency:
KELLER WILLIAMS LRGV · Keller Williams Realty
(956) 423-8877
Listed By:
AUDREY KRUPALA
(956) 245-8310
Added: Jun 16
Changed: Aug 20
Last Checked: Aug 28 at 11:06AM
MLS# 29777234
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 5,658-square-foot strip mall contains five fully leased suites within a commercial building constructed in 1984. The multi-suite layout supports a diversified tenant arrangement and provides occupied space across the property.
Located at 604 S 77 Sunshine Strip in Harlingen, the property is surrounded by established businesses, retail centers, restaurants, and professional services. Its setting along a well-traveled thoroughfare provides exposure to the surrounding commercial activity.
The parcel encompasses 0.2803 acres and the building is identified as a strip mall, providing a compact commercial format with multiple individual suites.
Located at 604 S 77 Sunshine Strip in Harlingen, the property is surrounded by established businesses, retail centers, restaurants, and professional services. Its setting along a well-traveled thoroughfare provides exposure to the surrounding commercial activity.
The parcel encompasses 0.2803 acres and the building is identified as a strip mall, providing a compact commercial format with multiple individual suites.
Key Highlights
- 5,658‑square‑foot commercial building
- Five fully leased suites
- Constructed in 1984
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
$53,839
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
6.90%
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%
$1,076,780
$1.1M
Cap Rate 7%
$769,129
$769.1K
Cap Rate 9%
$598,211
$598.2K
Market Conditions
NOI Build-Up for 5,658 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
$81.5K $14.40/SF
− Vacancy
−$4.6K −$0.81/SF
EGI
$76.9K $13.59/SF
− OpEx
−$23.1K −$4.08/SF
NOI
$53.8K $9.52/SF
Area
Cameron County, TX
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,076,780
Cap Rate 7%
$769,129
Cap Rate 9%
$598,211
Alternative Uses
Best Use
Retail
$769.1K
$673.0K – $897.3K
NOI $53,839 @ 7.0% cap · market cap 6.90%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$974.2K
$852.4K – $1.14M
NOI $68,195 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
197k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Shops & Services 31%
Groceries 25%
Apparel 10%
H-E-B
Groceries
49,158 visits/mo
0.3 miles
McDonald's
Dining
37,176 visits/mo
0.1 miles
H-E-B Fuel
Shops & Services
20,314 visits/mo
0.3 miles
Melrose
Apparel
19,871 visits/mo
0.3 miles
Dollar Tree
Shops & Services
18,741 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Five fully leased suites provide a multi-tenant commercial configuration.
Where is this strip mall located?
The property is located at 604 S 77 SUNSHINE STRIP Harlingen, TX.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 5,658‑square‑foot commercial building; Five fully leased suites; Constructed in 1984
