Professional Office Condominium For
For Sale
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1906 E Tyler Unit A, Harlingen, TX 78550
Corner unit office condominium in well-established professional development.
Property Size1,340 SF
Price / SF$148.51
Days on Market195
Property Features for 1906 E Tyler Unit A
General Information
Standard status
Active
Size
1,340 SF
Class
B
Property subtype
Office
Zoning
Commercial
Lease Type
NNN
Investment Type
Core
Building Details
Year Built
1998
Buildings
1
Stories
1
Units
1
Listing Agency:
Cindy Hopkins Commercial Real Estate
(956) 778-3255
Listed By:
CYNTHIA HOPKINS · License #0508052
Source:
Crexi
Added: Feb 9
Changed: Aug 8
Last Checked: Aug 8 at 6:29AM
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 Cindy Hopkins Commercial Real Estate
Investment Insights
Based on property information with market context.
This is a +/- 1,340 SF professional office condominium located in Unit A at Plaza Colonnial. The corner unit is part of a well-established professional office development with private gate access and a professional 30' monument sign at the entrance. The unit features a reception area with four independent areas, storage, and a restroom. The contemporary styling includes brick accents, decorative columns, and a dome ceiling. Formerly a construction office and now a hair salon, this unit is versatile and can be utilized for many professional uses. Plaza Colonnial is a 10-unit professional condominium development with property owners association fees of approximately $500 per month.
Key Highlights
- Versatile 1,340 SF professional office condominium suitable for various professional uses.
- Corner unit location within Plaza Colonnial, offering enhanced visibility and access.
- Well‑established professional office development with private gate access.
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
$12,301
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
6.18%
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%
$246,020
$246.0K
Cap Rate 7%
$175,729
$175.7K
Cap Rate 9%
$136,678
$136.7K
Market Conditions
NOI Build-Up for 1,340 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
$24.1K $18.00/SF
− Vacancy
−$7.7K −$5.76/SF
EGI
$16.4K $12.24/SF
− OpEx
−$4.1K −$3.06/SF
NOI
$12.3K $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%
$246,020
Cap Rate 7%
$175,729
Cap Rate 9%
$136,678
Alternative Uses
Best Use
Office B
$175.7K
$153.8K – $205.0K
NOI $12,301 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$230.7K
$201.9K – $269.2K
NOI $16,151 @ 7.0% cap · market cap 8.12%
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 - Corner unit office condominium in well-established professional development.
Where is this office units located?
The property is located at 1906 E Tyler Unit A Harlingen, TX.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Versatile 1,340 SF professional office condominium suitable for various professional uses.; Corner unit location within Plaza Colonnial, offering enhanced visibility and access.; Well‑established professional office development with private gate access.
