Harlingen Retail Property For
For Sale
Contact for pricing
810 Morgan Blvd, Harlingen, TX
Retail property with drive-through, great visibility, and strong demographics.
Property Size1,600 SF
Lot Size0.29 Acres
Price / SF$251.25
Days on Market536
Property Features for 810 Morgan Blvd
General Information
Standard status
Active
Size
1,600 SF
Lot size
0.29 Acres
Property subtype
RETAIL
Listing Agency:
Marcus & Millichap | Phoenix
(916) 532-6544
Listed By:
Zack House · License #SA550593000
(916) 532-6544
Source:
Moodyscre
Added: Feb 18, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Phoenix
Investment Insights
Based on property information with market context.
This retail property has over four years remaining on a double-net lease. Rental increases are scheduled for 7.5% in 2027, and 15% in the option period. The location benefits from high visibility, with nearly 25,000 cars per day near the intersections of Morgan Boulevard and North 77 Sunshine Strip. The surrounding area has a substantial residential base, with 91,490 residents within a 5-mile radius. The households and population in the surrounding area are projected to increase approximately 5+% by 2028. The property includes a drive-through.
Key Highlights
- Double‑Net (NN) Lease with 4+ Years Remaining
- High Traffic Location: Visible to nearly 25,000 Cars Per Day
- Drive‑Through Location
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
$16,312
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
4.06%
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%
$326,240
$326.2K
Cap Rate 7%
$233,029
$233.0K
Cap Rate 9%
$181,244
$181.2K
Market Conditions
NOI Build-Up for 1,600 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
$23.0K $14.40/SF
− Vacancy
−$1.3K −$0.81/SF
EGI
$21.7K $13.59/SF
− OpEx
−$5.4K −$3.40/SF
NOI
$16.3K $10.20/SF
Area
Cameron County, TX
Vacancy
5.60%
Lease Rate
$14.40 /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%
$326,240
Cap Rate 7%
$233,029
Cap Rate 9%
$181,244
Alternative Uses
Best Use
Specialty Retail
$233.0K
$203.9K – $271.9K
NOI $16,312 @ 7.0% cap · market cap 4.06%
Second Best
Retail
$217.5K
$190.3K – $253.8K
NOI $15,225 @ 7.0% cap · market cap 3.79%
Theoretical Best
Healthcare Medical
$275.5K
$241.1K – $321.4K
NOI $19,284 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Retail property with drive-through, great visibility, and strong demographics.
Where is this drive through restaurant located?
The property is located at 810 Morgan Blvd Harlingen, TX.
What is the asking price?
The asking price for this property is $402,000.
What are key features of this property?
This property features: Double‑Net (NN) Lease with 4+ Years Remaining; High Traffic Location: Visible to nearly 25,000 Cars Per Day; Drive‑Through Location
