Condominium Office with
For Sale
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1906 E Tyler Ave, Harlingen, TX 78550
A well-maintained office condominium offering 2,750 SF for lease or owner-occupancy with ample parking.
Property Size6,400 SF
Price / SF$121.09
Days on Market69
Property Features for 1906 E Tyler Ave
General Information
Standard status
Active
Size
6,400 SF
Property subtype
OFFICE
Listing Agency:
Davis Equity Realty - Weslaco
(956) 778-6676
Listed By:
Randy Summers, CCIM · License #0452513
(956) 778-6676
Source:
Moodyscre
Added: Jun 16
Changed: Aug 21
Last Checked: Aug 22 at 12:56PM
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 Davis Equity Realty - Weslaco
Investment Insights
Based on property information with market context.
This well-maintained office condominium totals 6,400 SF and includes 2,750 SF that can be leased or occupied. The interior is described as in good condition, and the property is set up as modern office facilities within a condominium configuration.
Located in Harlingen, Texas, the property is presented as a “prime Harlingen location” and includes ample parking for visitors and employees. The information provided does not specify additional building features beyond the available parking and modern office facilities.
For office users, the opportunity supports either leasing space within the condominium footprint or occupying the available 2,750 SF directly. For buyers seeking an owner-occupant arrangement, the property’s condominium structure and available portion provide a practical path to match space needs. The listing also emphasizes parking and the condition of the interior, both of which are key day-to-day considerations for tenant comfort and workflow.
Located in Harlingen, Texas, the property is presented as a “prime Harlingen location” and includes ample parking for visitors and employees. The information provided does not specify additional building features beyond the available parking and modern office facilities.
For office users, the opportunity supports either leasing space within the condominium footprint or occupying the available 2,750 SF directly. For buyers seeking an owner-occupant arrangement, the property’s condominium structure and available portion provide a practical path to match space needs. The listing also emphasizes parking and the condition of the interior, both of which are key day-to-day considerations for tenant comfort and workflow.
Key Highlights
- 6,400 SF office condominium with 2,750 SF available to lease or occupy
- Well‑maintained interior
- Ample parking space
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
$58,752
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
7.58%
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%
$1,175,040
$1.2M
Cap Rate 7%
$839,314
$839.3K
Cap Rate 9%
$652,800
$652.8K
Market Conditions
NOI Build-Up for 6,400 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
$115.2K $18.00/SF
− Vacancy
−$36.9K −$5.76/SF
EGI
$78.3K $12.24/SF
− OpEx
−$19.6K −$3.06/SF
NOI
$58.8K $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%
$1,175,040
Cap Rate 7%
$839,314
Cap Rate 9%
$652,800
Alternative Uses
Best Use
Office B
$839.3K
$734.4K – $979.2K
NOI $58,752 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.10M
$964.2K – $1.29M
NOI $77,138 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
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?
Office units - A well-maintained office condominium offering 2,750 SF for lease or owner-occupancy with ample parking.
Where is this office units located?
The property is located at 1906 E Tyler Ave Harlingen, TX.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 6,400 SF office condominium with 2,750 SF available to lease or occupy; Well‑maintained interior; Ample parking space
