Renovated Auto
For Sale
$499,000
1441 N 77 Sunshine Strip, Harlingen, TX 78550
Single-tenant automotive property with GR zoning, established occupancy, and a 2015 renovation.
Property Size4,483 SF
Price / SF$111.31
Days on Market195
Property Features for 1441 N 77 Sunshine Strip
General Information
Standard status
Active
Size
4,483 SF
Property subtype
Street Retail
Zoning
GR
Occupancy
100%
Building Details
Building Size
4,483 SF
Year Built
1989
Year Renovated
2015
Buildings
1
Tenancy
Single
Abandoned
No
Listing Agency:
CHRE
(956) 325-3255
Listed By:
CYNTHIA HOPKINS · License #0508052
(956) 325-3255
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 12:26AM
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 CHRE
Investment Insights
Based on property information with market context.
This automotive property comprises a 4,483-square-foot building with one operating unit. Constructed in 1989 and renovated in 2015, the asset is zoned GR and has remained occupied by Kips Kwik Lube for 36 years. Current occupancy is reported at 100%.
The property is located on N 77 Sunshine Strip in Harlingen within the Rio Grande Valley market. Valley Vista Mall, Bass Pro Shops, and Cinemark Movie Bistro are identified nearby, placing the building within a retail-oriented commercial setting.
The combination of a dedicated automotive building, established tenancy, documented renovation, and GR zoning provides a clear physical and occupancy profile for commercial property review.
The property is located on N 77 Sunshine Strip in Harlingen within the Rio Grande Valley market. Valley Vista Mall, Bass Pro Shops, and Cinemark Movie Bistro are identified nearby, placing the building within a retail-oriented commercial setting.
The combination of a dedicated automotive building, established tenancy, documented renovation, and GR zoning provides a clear physical and occupancy profile for commercial property review.
Key Highlights
- 4,483 SF automotive building with 1 unit
- Built in 1989 and renovated in 2015
- Zoned GR
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
$42,658
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
8.55%
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%
$853,160
$853.2K
Cap Rate 7%
$609,400
$609.4K
Cap Rate 9%
$473,978
$474.0K
Market Conditions
NOI Build-Up for 4,483 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
$64.6K $14.40/SF
− Vacancy
−$3.6K −$0.81/SF
EGI
$60.9K $13.59/SF
− OpEx
−$18.3K −$4.08/SF
NOI
$42.7K $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%
$853,160
Cap Rate 7%
$609,400
Cap Rate 9%
$473,978
Alternative Uses
Best Use
Retail
$609.4K
$533.2K – $711.0K
NOI $42,658 @ 7.0% cap · market cap 8.55%
Second Best
Industrial
$299.6K
$262.2K – $349.6K
NOI $20,974 @ 7.0% cap · market cap 4.20%
Theoretical Best
Healthcare Medical
$771.9K
$675.4K – $900.6K
NOI $54,033 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
460
Businesses Nearby
32k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 40%
Electronics 3%
La Michoacana Meat Market
Groceries
17,787 visits/mo
0.2 miles
Valero Energy
Shops & Services
7,527 visits/mo
0.2 miles
Dollar General
Shops & Services
4,948 visits/mo
0.2 miles
Cricket Wireless Authorized Retailer
Electronics
1,036 visits/mo
0.2 miles
Jackson Hewitt Tax Service
Shops & Services
321 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- The Wrap House — 211 W Jefferson Ave Suite #7, Harlingen, TX 78550
- F&N Auto Services — N 1st St, Harlingen, TX 78550
Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant automotive property with GR zoning, established occupancy, and a 2015 renovation.
Where is this auto shop located?
The property is located at 1441 N 77 Sunshine Strip Harlingen, TX.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 4,483 SF automotive building with 1 unit; Built in 1989 and renovated in 2015; Zoned GR
