Medical Office with
For Sale
$350,000
1801-1805 HARRISON AVE., Harlingen, TX 78550
Mixed-use property with an office wing and an apartment, offering parking and a two-car garage.
Property Size3,465 SF
Price / SF$101.01
Days on Market51
Property Features for 1801-1805 HARRISON AVE.
General Information
Standard status
Active
Size
3,465 SF
Property subtype
General Commercial
Amenities
3
Building Details
Year Built
1984
Stories
1
Listing Agency:
EXP Realty, LLC
(956) 792-0520
Listed By:
TANA SPRINGER · License #0647140
(956) 792-0520
Source:
Xome
Added: Jun 22
Changed: Aug 9
Last Checked: Aug 11 at 5:04AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This mixed-use property is currently operating as a chiropractic office and includes an apartment-style living unit. The office wing features a reception and waiting area, front desk, private office, two treatment rooms, storage areas, 2 bathrooms, and a breakroom and laundry room. The treatment rooms include floor-to-ceiling picture windows overlooking an atrium-style setting.
The residential side provides a large living area, kitchen, bedroom, and a full bathroom. Ample parking is included with additional rear parking, and a 2-car garage completes the property.
The duplex-style layout separates the office and living spaces, allowing the residential unit to remain independent or be incorporated into the business footprint. The offering presents flexibility for professional uses that can accommodate both work and on-site living.
The residential side provides a large living area, kitchen, bedroom, and a full bathroom. Ample parking is included with additional rear parking, and a 2-car garage completes the property.
The duplex-style layout separates the office and living spaces, allowing the residential unit to remain independent or be incorporated into the business footprint. The offering presents flexibility for professional uses that can accommodate both work and on-site living.
Key Highlights
- Mixed‑use property built in 1984 with an office wing and an apartment‑style living space
- Office setup includes a reception/waiting room, front desk, private office, 2 treatment rooms, breakroom and laundry room
- Office area features 2 bathrooms and includes storage, plus two treatment rooms with floor‑to‑ceiling picture windows overlooking an atrium‑style setting
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
Mixed Use
$501.2K
$438.5K – $584.7K
NOI $35,083 @ 7.0% cap · market cap 10.02%
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
1,483
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Muniz Rio Grande Pharmacy — 1117 S Commerce St unit 1, Harlingen, TX 78550
Frequently Asked Questions
What type of property is this?
Medical Office Space - Mixed-use property with an office wing and an apartment, offering parking and a two-car garage.
Where is this medical office space located?
The property is located at 1801-1805 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: Mixed‑use property built in 1984 with an office wing and an apartment‑style living space; Office setup includes a reception/waiting room, front desk, private office, 2 treatment rooms, breakroom and laundry room; Office area features 2 bathrooms and includes storage, plus two treatment rooms with floor‑to‑ceiling picture windows overlooking an atrium‑style setting
