Free-Standing Flex
For Sale
$325,000
Pending
17745 W Expressway 83, Harlingen, TX 78552
Free-standing building with gated front yard, concrete parking, and an oversized drive-thru garage/shop with office improvements.
Property Size3,600 SF
Days on Market101
Property Features for 17745 W Expressway 83
General Information
Standard status
Pending
Size
3,600 SF
Total Parking Spaces
14
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Building Details
Year Built
2003
Listing Agency:
Marcus Phipps Real Estate LLC
(956) 793-9993
Listed By:
Pauline Zurovec · License #568880
(956) 793-9993
Source:
Exprealty
Added: May 4
Changed: Jul 22
Last Checked: Aug 11 at 10:10AM
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 free-standing flex building is designed for business use with a drive-thru garage/shop and office improvements. The floor plan includes a reception area, seven offices, a large conference room, a kitchen/break room, two restrooms, and an exterior storage room. The property also features an oversized drive-thru garage/shop and gated front yard, with a concrete parking lot at both the front and rear providing parking for 14+/- vehicles.
The site is located off Expressway 83 to Sunset Street. The property is presently outside city limits and is described as suitable for commercial or retail use, though it is not zoned.
Built around 2003 and described as neat, attractive, and well maintained, the building includes an office area of approximately 2,673 square feet and a drive-thru garage/shop area of approximately 800 square feet, with an additional 473 square feet noted for other improvements.
The site is located off Expressway 83 to Sunset Street. The property is presently outside city limits and is described as suitable for commercial or retail use, though it is not zoned.
Built around 2003 and described as neat, attractive, and well maintained, the building includes an office area of approximately 2,673 square feet and a drive-thru garage/shop area of approximately 800 square feet, with an additional 473 square feet noted for other improvements.
Key Highlights
- Free‑standing building constructed +/-2003 with gated front yard and concrete parking lot (front & rear) for 14+/- spaces
- Oversized drive‑thru garage/shop with +/-800 SF, designed for vehicle‑focused uses
- Total improvements of +/-3,473 SF, including office area of +/-2,673 SF plus reception, seven offices, and a large conference room
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
$16,842
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
5.18%
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%
$336,840
$336.8K
Cap Rate 7%
$240,600
$240.6K
Cap Rate 9%
$187,133
$187.1K
Market Conditions
NOI Build-Up for 3,600 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
$25.5K $7.08/SF
− Vacancy
−$1.4K −$0.40/SF
EGI
$24.1K $6.68/SF
− OpEx
−$7.2K −$2.01/SF
NOI
$16.8K $4.68/SF
Area
Cameron County, TX
Vacancy
5.60%
Lease Rate
$7.08 /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%
$336,840
Cap Rate 7%
$240,600
Cap Rate 9%
$187,133
Alternative Uses
Best Use
Retail
$489.4K
$428.2K – $570.9K
NOI $34,256 @ 7.0% cap · market cap 10.54%
Second Best
Office B
$472.1K
$413.1K – $550.8K
NOI $33,048 @ 7.0% cap · market cap 10.17%
Theoretical Best
Healthcare Medical
$619.9K
$542.4K – $723.2K
NOI $43,390 @ 7.0% cap · market cap 13.35%
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
188
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78552, TX
38,474
Population
16,009
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
48.0 sq mi
ZIP Area
802
Density / Sq Mi
$67,183
Median Household Income
$34,571
Median Earnings
$1,054
Median Rent
$154,500
Median Home Value
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 - Free-standing building with gated front yard, concrete parking, and an oversized drive-thru garage/shop with office improvements.
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: Free‑standing building constructed +/-2003 with gated front yard and concrete parking lot (front & rear) for 14+/- spaces; Oversized drive‑thru garage/shop with +/-800 SF, designed for vehicle‑focused uses; Total improvements of +/-3,473 SF, including office area of +/-2,673 SF plus reception, seven offices, and a large conference room
