Multi-Tenant Medical Retail
3777 Frontage Rd Brownsville, TX 78520
3777 Frontage Rd, Brownsville, TX, 78520
$3,800,000
For Sale
$3,800,000
Las Palmas Plaza is a 2017 multi-tenant center anchored by healthcare-oriented tenants on NNN lease structures.
Property Size10,563 SF
Lot Size1.08 Acres
Price / SF$359.75
Days on Market71
Property Features for 3777 Frontage Rd
General Information
- Standard status
- Active
- Size
- 10,563 SF
- Lot size
- 1.08 Acres
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 2017
Listing agency
Marcus & Millichap - Dallas
(972) 755-5225
Listed by
Philip Levy · License #License(s): TX: 0522087
(972) 755-5225
Source
Marcusmillichap
Added: May 14 Updated: Jul 22 at 1:32PM Checked: Jul 22 at 1:32PM
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 newer (2017) multi-tenant retail center built on a 1.075-acre parcel with concrete parking. The property is 100% occupied and leased on triple-net (NNN) structures across all tenants. Approximately 71% of the GLA is occupied by medical users, with remaining space supporting complementary service and necessity-based uses.
Tenanting includes Northland Hearing Centers, Airrosti Rehab Center, Baaxten Imaging Center, and Raymond James. The center is positioned along North Expressway 83, one of Brownsville’s primary retail corridors.
Adjacent and nearby pad sites include Olive Garden, Verizon, Black Bear Diner, LongHorn Steakhouse, and Homewood Suites by Hilton. The Property is directly across from Sunrise Mall and surrounded by a dense concentration of national retailers, including Target, TJ Maxx, Burlington, and Best Buy.
Tenanting includes Northland Hearing Centers, Airrosti Rehab Center, Baaxten Imaging Center, and Raymond James. The center is positioned along North Expressway 83, one of Brownsville’s primary retail corridors.
Adjacent and nearby pad sites include Olive Garden, Verizon, Black Bear Diner, LongHorn Steakhouse, and Homewood Suites by Hilton. The Property is directly across from Sunrise Mall and surrounded by a dense concentration of national retailers, including Target, TJ Maxx, Burlington, and Best Buy.
Key Highlights
- 2017 multi‑tenant retail center, 100% occupied with healthcare‑oriented tenant mix
- Approximately 71% of GLA leased to medical users, including Northland Hearing Centers, Airrosti, Baaxten Imaging, and Raymond James
- NNN lease structures across all tenants with passive, expense‑reimbursed cash flow and limited landlord responsibilities
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $228.2k | $21.60 |
| − Vacancy | −$16.0k | −$1.51 |
| EGI | $212.2k | $20.09 |
| − OpEx | −$84.9k | −$8.04 |
| NOI | $127.3k | $12.05 |
10,563 SF · lease $21.60/SF/yr · vacancy 7.00% · expense 40.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Shopping centers
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FAQs
What type of property is this?
Shopping center - Las Palmas Plaza is a 2017 multi-tenant center anchored by healthcare-oriented tenants on NNN lease structures.
Where is this shopping center located?
The property is located at 3777 Frontage Rd 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: 2017 multi‑tenant retail center, 100% occupied with healthcare‑oriented tenant mix; Approximately 71% of GLA leased to medical users, including Northland Hearing Centers, Airrosti, Baaxten Imaging, and Raymond James; NNN lease structures across all tenants with passive, expense‑reimbursed cash flow and limited landlord responsibilities
