Freestanding Flex Building with
For Sale
$325,000
Pending
17745 W EXPRESSWAY 83, Harlingen, TX 78555
COMMERCIAL - HARLINGEN, TX
Property Size3,473 SF
Lot Size0.20 Acres
Days on Market121
Property Features for 17745 W EXPRESSWAY 83
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
WESTERN
Standard status
Pending
Size
3,473 SF
Lot size
0.20 Acres
Amenities
gated front yard
drive thru capability
Building Details
Year built
2003
Floors in Building
1
Listing Agency:
MARCUS PHIPPS REAL ESTATE, LLC
(956) 423-5300
Listed By:
PAULINE ZUROVEC · License #568880
(956) 793-9993
Added: Apr 14
Changed: Aug 4
Last Checked: Aug 12 at 2:06AM
MLS# 29775619
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 freestanding flex property contains 3,473 square feet, including approximately 2,673 square feet of office space and an approximately 800-square-foot drive-through garage or shop. Built in 2003, the building includes oversized overhead doors, a gated front yard, and vehicle access through the structure. The improvements are described as well maintained and provide a combination of enclosed office and service-oriented space.
The property is located at 17745 W Expressway 83 in Harlingen, Texas, with access connecting Expressway 83 and Sunset Street. Its configuration supports business operations requiring vehicle movement through a garage or shop area, including the specific applications identified for RV storage, package delivery, medical vehicles, transportation minibuses, sales vehicles, day care, medical offices, and sales use.
The property is located at 17745 W Expressway 83 in Harlingen, Texas, with access connecting Expressway 83 and Sunset Street. Its configuration supports business operations requiring vehicle movement through a garage or shop area, including the specific applications identified for RV storage, package delivery, medical vehicles, transportation minibuses, sales vehicles, day care, medical offices, and sales use.
Key Highlights
- 3,473 SF freestanding building constructed in 2003
- Approximately 2,673 SF of office area
- Approximately 800 SF drive‑through garage/shop
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
$29,708
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
9.14%
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%
$594,160
$594.2K
Cap Rate 7%
$424,400
$424.4K
Cap Rate 9%
$330,089
$330.1K
Market Conditions
NOI Build-Up for 3,473 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
$46.3K $13.32/SF
− Vacancy
−$555 −$0.16/SF
EGI
$45.7K $13.16/SF
− OpEx
−$16.0K −$4.61/SF
NOI
$29.7K $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%
$594,160
Cap Rate 7%
$424,400
Cap Rate 9%
$330,089
Alternative Uses
Best Use
Healthcare Medical
$598.0K
$523.2K – $697.7K
NOI $41,859 @ 7.0% cap · market cap 12.88%
Second Best
Office B
$455.5K
$398.5K – $531.4K
NOI $31,882 @ 7.0% cap · market cap 9.81%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Firehouse Subs Harlingen Corners — 2709 W Expressway 83 #150, Harlingen, TX 78552
Frequently Asked Questions
What type of property is this?
Flex space - The layout combines office space with a shop area for vehicle passage and oversized overhead doors.
Where is this flex space located?
The property is located at 17745 W EXPRESSWAY 83 Harlingen, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 3,473 SF freestanding building constructed in 2003; Approximately 2,673 SF of office area; Approximately 800 SF drive‑through garage/shop
