Multi-Tenant Retail
For Sale
Contact for pricing
3777 North Expressway 83, Brownsville, TX 78526
Fully occupied center with healthcare-oriented tenancy and triple-net lease structures.
Property Size10,563 SF
Lot Size1.08 Acres
Price / SF$359.75
Days on Market158
Property Features for 3777 North Expressway 83
General Information
Standard status
Active
Size
10,563 SF
Lot size
1.08 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$274,913
Site & Location
Traffic Count
115,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
1992
Units
4
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Dallas
Listed By:
Philip Levy · License #TX 522087
(972) 755-5225
Source:
Crexi
Added: May 11
Changed: Oct 12
Last Checked: Oct 14 at 9:41PM
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 Marcus & Millichap - Dallas
Investment Insights
Based on property information with market context.
Las Palmas Plaza is a 10,563-square-foot shopping center on a 1.075-acre parcel at 3777 North Expressway 83 in Brownsville. The property was reported as 100 percent occupied, with approximately 71 percent of gross leasable area committed to medical users. Its tenant mix also includes financial services and other necessity-based businesses. Concrete parking serves the center, and all reported leases use NNN structures.
The property fronts North Expressway 83, a major Brownsville retail and commuter route carrying approximately 115,000 vehicles per day. The center is across from Sunrise Mall and near national retailers including Target, TJ Maxx, Burlington, and Best Buy. Nearby pad-site and hospitality users include Olive Garden, Verizon, Black Bear Diner, LongHorn Steakhouse, and Homewood Suites by Hilton.
The property fronts North Expressway 83, a major Brownsville retail and commuter route carrying approximately 115,000 vehicles per day. The center is across from Sunrise Mall and near national retailers including Target, TJ Maxx, Burlington, and Best Buy. Nearby pad-site and hospitality users include Olive Garden, Verizon, Black Bear Diner, LongHorn Steakhouse, and Homewood Suites by Hilton.
Key Highlights
- 100 percent occupied shopping center
- 10,563‑square‑foot building on a 1.075‑acre parcel
- Approximately 71 percent of GLA leased to medical users
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,314
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,546,280
$2.5M
Cap Rate 7%
$1,818,771
$1.8M
Cap Rate 9%
$1,414,600
$1.4M
Market Conditions
NOI Build-Up for 10,563 SF
Gross rent
$228.2K $21.60/SF
− Vacancy
−$16.0K −$1.51/SF
EGI
$212.2K $20.09/SF
− OpEx
−$84.9K −$8.04/SF
NOI
$127.3K $12.05/SF
Area
Brownsville, TX
Vacancy
7.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,546,280
Cap Rate 7%
$1,818,771
Cap Rate 9%
$1,414,600
Alternative Uses
Best Use
Healthcare Medical
$1.82M
$1.59M – $2.12M
NOI $127,314 @ 7.0% cap · market cap 3.35%
Second Best
Retail
$1.44M
$1.26M – $1.68M
NOI $100,512 @ 7.0% cap · market cap 2.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
115,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78526, TX
55,164
Population
18,222
Households
3
Avg Household Size
32
Median Age
29%
College-Educated
79%
High-School Grad
47.4 sq mi
ZIP Area
1,164
Density / Sq Mi
$68,143
Median Household Income
$36,451
Median Earnings
$1,080
Median Rent
$158,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Sunglass Hut — 2370 Frontage Rd Spc 1116, Brownsville, TX 78521
- Zapatos — brownsville, tx 78521
- Sunrise Commons — 2370 N Expressway 83, Brownsville, TX 78521
- SUNRISE CORNER — 3001 Pablo Kisel Blvd, Brownsville, TX 78526
- 707 Plaza — 4237 N Frontage Rd, Brownsville, TX 78520
Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied center with healthcare-oriented tenancy and triple-net lease structures.
Where is this shopping center located?
The property is located at 3777 North Expressway 83 Brownsville, TX.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 100 percent occupied shopping center; 10,563‑square‑foot building on a 1.075‑acre parcel; Approximately 71 percent of GLA leased to medical users
