Automotive Shop
For Sale
$375,000
1501 N 77 Sunshine Strip, Harlingen, TX 78550
Move-in-ready 4,000 SF shop-warehouse with three overhead doors, small air-conditioned office, fenced parking, and drive-thru capability.
Property Size4,000 SF
Price / SF$93.75
Days on Market114
Property Features for 1501 N 77 Sunshine Strip
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
20
Property subtype
General Commercial
Lease Type
Modified Gross
Additional Details
Furnished
Yes
Fenced Yard
Yes
Drive-In Doors
3
Service Bays
3
Taxes and HOA fees
Annual Taxes
$3,711
Amenities
drive-thru capability
fenced
Window Air Conditioning, Electric, Wall Air Conditioning
20 Parking Spaces. Paved Driveway, Garage.
Extra Storage. City Road, Paved Road.
Building Details
Year Built
1999
Stories
1
Listing Agency:
Marcus Phipps Real Estate Llc
Listed By:
Marcus Phipps · License #450735
(956) 423-5300
Source:
Xome
Added: May 18
Changed: Sep 8
Last Checked: Sep 7 at 12:54PM
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 Phipps Real Estate Llc
Investment Insights
Based on property information with market context.
This move-in-ready shop-warehouse is currently used for automotive repair and is laid out as a 50' x 80' warehouse built in 1999. The property features three large overhead doors (two 14' x 14' and one 12' x 12') and a drive-thru capability to support shop and equipment operations. A small, air-conditioned office of approximately 100 SF is included.
The site offers parking for 20+ vehicles and is fully fenced for security. Miscellaneous items for tenant use are available with the shop lease, including three lifts (two 9,000 lb, 4-1/2 ton, and one large full auto lift), along with office furnishings and shop equipment such as wall benches, parts washer, brake grinder, oil tank, and racks (if needed).
The configuration is well-suited to tenants seeking a dedicated automotive shop and warehouse environment with direct loading through multiple overhead doors and enclosed, secured exterior storage/parking.
The site offers parking for 20+ vehicles and is fully fenced for security. Miscellaneous items for tenant use are available with the shop lease, including three lifts (two 9,000 lb, 4-1/2 ton, and one large full auto lift), along with office furnishings and shop equipment such as wall benches, parts washer, brake grinder, oil tank, and racks (if needed).
The configuration is well-suited to tenants seeking a dedicated automotive shop and warehouse environment with direct loading through multiple overhead doors and enclosed, secured exterior storage/parking.
Key Highlights
- 50' x 80' (4,000 SF) shop‑warehouse built in 1999, currently used as an automotive repair shop
- Drive‑thru capability with three overhead doors: 2 (14' x 14') and 1 (12' x 12')
- Small air‑conditioned office of roughly 100 SF
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
$34,216
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
9.12%
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%
$684,320
$684.3K
Cap Rate 7%
$488,800
$488.8K
Cap Rate 9%
$380,178
$380.2K
Market Conditions
NOI Build-Up for 4,000 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
$53.3K $13.32/SF
− Vacancy
−$639 −$0.16/SF
EGI
$52.6K $13.16/SF
− OpEx
−$18.4K −$4.61/SF
NOI
$34.2K $8.55/SF
Area
Cameron County, TX
Vacancy
1.20%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
35.00%
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%
$684,320
Cap Rate 7%
$488,800
Cap Rate 9%
$380,178
Alternative Uses
Best Use
Retail
$543.7K
$475.8K – $634.4K
NOI $38,062 @ 7.0% cap · market cap 10.15%
Second Best
Flex RnD
$488.8K
$427.7K – $570.3K
NOI $34,216 @ 7.0% cap · market cap 9.12%
Theoretical Best
Healthcare Medical
$688.7K
$602.6K – $803.5K
NOI $48,211 @ 7.0% cap · market cap 12.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
3
Service bays
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
368
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Move-in-ready 4,000 SF shop-warehouse with three overhead doors, small air-conditioned office, fenced parking, and drive-thru capability.
Where is this flex space located?
The property is located at 1501 N 77 Sunshine Strip Harlingen, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 50' x 80' (4,000 SF) shop‑warehouse built in 1999, currently used as an automotive repair shop; Drive‑thru capability with three overhead doors: 2 (14' x 14') and 1 (12' x 12'); Small air‑conditioned office of roughly 100 SF
