Retail Strip
For Sale
$950,000
1226 MORGAN BLVD., Harlingen, TX 78550
For sale retail strip center offering multiple storefront spaces at one location.
Property Size6,500 SF
Price / SF$146.15
Days on Market230
Property Features for 1226 MORGAN BLVD.
General Information
Standard status
Active
Size
6,500 SF
Property subtype
General Commercial
Amenities
3
Building Details
Year Built
1969
Stories
1
Listing Agency:
CENTURY 21 JOHNSTON COMPANY
(956) 792-1179
Listed By:
Julie R Cerda · License #0634631
(956) 792-1179
Source:
Xome
Added: Dec 25, 2025
Changed: Aug 9
Last Checked: Aug 11 at 5:21AM
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 CENTURY 21 JOHNSTON COMPANY
Investment Insights
Based on property information with market context.
This retail strip center is offered for sale and provides multiple storefront spaces within a single commercial property. The property totals 6,500 square feet, designed to support a range of retail-oriented tenant layouts.
The center is located at 1226 N MORGAN BLVD., HARLINGEN, TX. Prospective tenants and buyers can review the configuration on-site to determine fit for their intended concept and operating needs.
Available as a for-sale opportunity, the property’s straightforward strip-center format can support businesses seeking storefront frontage within a shared commercial setting.
The center is located at 1226 N MORGAN BLVD., HARLINGEN, TX. Prospective tenants and buyers can review the configuration on-site to determine fit for their intended concept and operating needs.
Available as a for-sale opportunity, the property’s straightforward strip-center format can support businesses seeking storefront frontage within a shared commercial setting.
Key Highlights
- Retail strip center with multiple storefront spaces at one location
- Year built: 1969
- Heating: 3
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
$61,851
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
6.51%
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%
$1,237,020
$1.2M
Cap Rate 7%
$883,586
$883.6K
Cap Rate 9%
$687,233
$687.2K
Market Conditions
NOI Build-Up for 6,500 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
$93.6K $14.40/SF
− Vacancy
−$5.2K −$0.81/SF
EGI
$88.4K $13.59/SF
− OpEx
−$26.5K −$4.08/SF
NOI
$61.9K $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%
$1,237,020
Cap Rate 7%
$883,586
Cap Rate 9%
$687,233
Alternative Uses
Best Use
Retail
$883.6K
$773.1K – $1.03M
NOI $61,851 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.12M
$979.3K – $1.31M
NOI $78,343 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,170
Businesses Nearby
207k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 31%
Apparel 10%
McDonald's
Dining
37,176 visits/mo
0.1 miles
Whataburger
Dining
32,199 visits/mo
0.4 miles
H-E-B Fuel
Shops & Services
20,314 visits/mo
0.4 miles
Melrose
Apparel
19,871 visits/mo
0.4 miles
Dollar Tree
Shops & Services
18,741 visits/mo
0.1 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 - For sale retail strip center offering multiple storefront spaces at one location.
Where is this strip mall located?
The property is located at 1226 MORGAN BLVD. Harlingen, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Retail strip center with multiple storefront spaces at one location; Year built: 1969; Heating: 3
