Four-Building Shopping
216 Ed Carey Dr, Harlingen, TX 78550
For Sale
New
Contact for pricing
The property is arranged across four buildings, offering a multi-building retail layout.
Property Size45,300 SF
Price / SF$173.29
Days on Market6
Property Features for 216 Ed Carey Dr
General Information
Standard status
Size
Property subtype
Additional Details
Anchor Co-Tenants
Building Details
Buildings
Listing Agency:
CBRE - Austin
Listed By:
Bradley Bailey · License #429729-B
(512) 499-4928
Source:
Crexi
Added: Nov 4
Changed: Nov 8
Last Checked: Nov 8 at 5:55PM
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 CBRE - Austin
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This Harlingen shopping center contains 45,300 SF across four retail buildings. Recent capital improvements have been completed at the property, which includes vacant space for lease-up consideration.
The center is located at 216 Ed Carey Dr and is shadow-anchored by Lowe’s, with a position along a major commercial corridor.
The center is located at 216 Ed Carey Dr and is shadow-anchored by Lowe’s, with a position along a major commercial corridor.
Key Highlights
- 45,300 SF retail center across four buildings
- Shadow‑anchored by Lowe’s
- Located at 216 Ed Carey Dr in Harlingen, TX
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$431,053
Cap Rate
5.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,621,060
$8.6M
Cap Rate 7%
$6,157,900
$6.2M
Cap Rate 9%
$4,789,478
$4.8M
Market Conditions
NOI Build-Up for 45,300 SF
Gross rent
$652.3K $14.40/SF
− Vacancy
−$36.5K −$0.81/SF
EGI
$615.8K $13.59/SF
− OpEx
−$184.7K −$4.08/SF
NOI
$431.1K $9.52/SF
Area
Cameron County, TX
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,621,060
Cap Rate 7%
$6,157,900
Cap Rate 9%
$4,789,478
Alternative Uses
Best Use
Retail
$6.16M
$5.39M – $7.18M
NOI $431,053 @ 7.0% cap · market cap 5.49%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$7.80M
$6.82M – $9.10M
NOI $545,992 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
624
Businesses Nearby
340k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 34%
Dining 32%
Shops & Services 31%
Hotels & Casinos 3%
The Home Depot
Home Improvements & Furnishings
57,098 visits/mo
0.2 miles
Lowe's
Home Improvements & Furnishings
41,459 visits/mo
0.2 miles
Texas Roadhouse
Dining
38,297 visits/mo
0.2 miles
Whataburger
Dining
33,161 visits/mo
0.4 miles
Dollar Tree
Shops & Services
26,401 visits/mo
0.2 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Shopping center - The property is arranged across four buildings, offering a multi-building retail layout.
Where is this shopping center located?
The property is located at 216 Ed Carey Dr Harlingen, TX.
What is the asking price?
The asking price for this property is $7,850,000.
What are key features of this property?
This property features: 45,300 SF retail center across four buildings; Shadow‑anchored by Lowe’s; Located at 216 Ed Carey Dr in Harlingen, TX
