Harlingen Office Building For
For Sale
Contact for pricing
2420 E Tyler, Harlingen, TX 78550
Exceptional office building in thriving Rio Grande Valley market.
Property Size11,707 SF
Price / SF$147.35
Days on Market105
Property Features for 2420 E Tyler
General Information
Standard status
Active
Size
11,707 SF
Property subtype
Office, Mixed Use
Zoning
Commercial
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
2014
Units
1
Listing Agency:
Cindy Hopkins Commercial Real Estate
(956) 778-3255
Listed By:
CYNTHIA HOPKINS · License #0508052
Source:
Crexi
Added: May 19
Changed: Aug 23
Last Checked: Aug 29 at 9:35AM
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 +/- 11,707 square foot office building, formerly used for administrative staff, features high ceilings and custom design elements. The property includes approximately 20 [10 x 10] cubicles and over 15 private window offices. The facility offers a reception area, a large conference room, a large employee break area, and a gym area. There is also a manager's office with a private restroom and an outdoor courtyard. Located in Harlingen, Texas, the property is situated in the Rio Grande Valley market. Nearby are the Valley International Airport and the Harlingen Medical Center. Texas State Technical College and The University of Texas Rio Grande Valley are also located in the area. The location offers a variety of dining, shopping, and entertainment options, creating an attractive environment for office and office building investors. This property is suitable for any corporate office.
Key Highlights
- Exceptional, beautifully landscaped office building with high ceilings and numerous custom design features.
- Includes +/- 20 cubicles and 15+ private/window offices, ready for immediate use.
- Features a beautiful reception area, large conference room, large employee break area, and gym area.
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
$107,470
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
6.23%
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%
$2,149,400
$2.1M
Cap Rate 7%
$1,535,286
$1.5M
Cap Rate 9%
$1,194,111
$1.2M
Market Conditions
NOI Build-Up for 11,707 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
$210.7K $18.00/SF
− Vacancy
−$67.4K −$5.76/SF
EGI
$143.3K $12.24/SF
− OpEx
−$35.8K −$3.06/SF
NOI
$107.5K $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%
$2,149,400
Cap Rate 7%
$1,535,286
Cap Rate 9%
$1,194,111
Alternative Uses
Best Use
Office B
$1.54M
$1.34M – $1.79M
NOI $107,470 @ 7.0% cap · market cap 6.23%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.02M
$1.76M – $2.35M
NOI $141,102 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
536
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 building - Exceptional office building in thriving Rio Grande Valley market.
Where is this office building located?
The property is located at 2420 E Tyler Harlingen, TX.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Exceptional, beautifully landscaped office building with high ceilings and numerous custom design features.; Includes +/- 20 cubicles and 15+ private/window offices, ready for immediate use.; Features a beautiful reception area, large conference room, large employee break area, and gym area.
