Medical Office Space with Residential
For Sale
$350,000
1801-1805 E HARRISON AVE., Harlingen, TX 78550
COMMERCIAL - HARLINGEN, TX
Property Size3,465 SF
Lot Size0.30 Acres
Price / SF$101.01
Days on Market50
Property Features for 1801-1805 E HARRISON AVE.
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
MST
Standard status
Active
Size
3,465 SF
Lot size
0.30 Acres
Building Details
Year built
1984
Floors in Building
1
Listing Agency:
EXP Realty, LLC
(888) 519-7431
Listed By:
TANA SPRINGER · License #0647140
(956) 792-0520
Added: Jun 24
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# 29777421
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 medical office space is configured in a duplex-style layout with a dedicated office wing and a separate apartment-style living space. The property is currently operating as a chiropractic office, and it also previously housed a title company, supporting flexibility for professional users.
The office area features a reception and waiting room, front desk, private office, two spacious treatment rooms with floor-to-ceiling picture windows overlooking an atrium-style setting, storage areas, two bathrooms, and a breakroom and laundry room.
The residential side includes a large living area, kitchen, bedroom, and a full bathroom. With ample parking, additional rear parking, and a 2-car garage, the property is set up to accommodate both office and residential needs. Built in 1984, the property sits on a 0.2984-acre lot and includes 3,465 square feet of space.
The office area features a reception and waiting room, front desk, private office, two spacious treatment rooms with floor-to-ceiling picture windows overlooking an atrium-style setting, storage areas, two bathrooms, and a breakroom and laundry room.
The residential side includes a large living area, kitchen, bedroom, and a full bathroom. With ample parking, additional rear parking, and a 2-car garage, the property is set up to accommodate both office and residential needs. Built in 1984, the property sits on a 0.2984-acre lot and includes 3,465 square feet of space.
Key Highlights
- 0.2984‑acre parcel with 3,465 SF medical office space
- Duplex‑style layout with dedicated office wing plus separate apartment‑style living space
- Currently operating as a chiropractic office; previously home to a title company
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
$31,809
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
9.09%
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%
$636,180
$636.2K
Cap Rate 7%
$454,414
$454.4K
Cap Rate 9%
$353,433
$353.4K
Market Conditions
NOI Build-Up for 3,465 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
$62.4K $18.00/SF
− Vacancy
−$20.0K −$5.76/SF
EGI
$42.4K $12.24/SF
− OpEx
−$10.6K −$3.06/SF
NOI
$31.8K $9.18/SF
Area
Cameron County, TX
Vacancy
32.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$636,180
Cap Rate 7%
$454,414
Cap Rate 9%
$353,433
Alternative Uses
Best Use
Healthcare Medical
$596.6K
$522.0K – $696.1K
NOI $41,763 @ 7.0% cap · market cap 11.93%
Second Best
Office B
$454.4K
$397.6K – $530.2K
NOI $31,809 @ 7.0% cap · market cap 9.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,495
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Duplex-style layout with a dedicated office wing and a separate apartment-style living space for flexible professional use.
Where is this medical office space located?
The property is located at 1801-1805 E HARRISON AVE. Harlingen, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 0.2984‑acre parcel with 3,465 SF medical office space; Duplex‑style layout with dedicated office wing plus separate apartment‑style living space; Currently operating as a chiropractic office; previously home to a title company
