Restaurant with Kitchen
New
For Sale
$395,000
422 N L Street, Harlingen, TX 78550
The sale includes cooking, refrigeration, food-preparation, and point-of-sale equipment.
Property Size2,708 SF
Price / SF$145.86
Days on Market4
Property Features for 422 N L Street
General Information
Standard status
Active
Size
2,708 SF
Total Parking Spaces
27
Property subtype
Commercial
Additional Details
Equipment Included
Yes
Taxes and HOA fees
Annual Taxes
$6,269
Amenities
Storage
Mature Trees
Building Details
Building Size
2,708 SF
Year Built
2006
Stories
1
Listing Agency:
Encore Fine Properties
(956) 821-6170
Listed By:
Breann Fay Nelson
(956) 800-0331
Source:
Justrealty
Added: Oct 22
Changed: Oct 24
Last Checked: Oct 24 at 3:18PM
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 Encore Fine Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,708-square-foot restaurant building was constructed in 2006. The sale includes televisions and a range of kitchen equipment, including a griddle, fryer, grill, commercial refrigerator, freezer, three-compartment sink, and cold prep table. Shelving and racks are also included, along with a POS system stored in the building.
Key Highlights
- 2,708‑square‑foot restaurant building, built in 2006
- Kitchen equipment includes a griddle, fryer, grill, commercial refrigerator, and freezer
- Includes a three‑compartment sink, cold prep table, shelving, and racks
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,609
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,180
$552.2K
Cap Rate 7%
$394,414
$394.4K
Cap Rate 9%
$306,767
$306.8K
Market Conditions
NOI Build-Up for 2,708 SF
Gross rent
$39.0K $14.40/SF
− Vacancy
−$2.2K −$0.81/SF
EGI
$36.8K $13.59/SF
− OpEx
−$9.2K −$3.40/SF
NOI
$27.6K $10.20/SF
Area
Cameron County, TX
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,180
Cap Rate 7%
$394,414
Cap Rate 9%
$306,767
Alternative Uses
Best Use
Specialty Retail
$394.4K
$345.1K – $460.2K
NOI $27,609 @ 7.0% cap · market cap 6.99%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$466.3K
$408.0K – $544.0K
NOI $32,639 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
836
Businesses Nearby
77k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 68%
Groceries 20%
Shops & Services 12%
La Michoacana Meat Market
Groceries
15,469 visits/mo
0.5 miles
Jack in the Box
Dining
15,299 visits/mo
0.5 miles
Buffalo Wild Wings
Dining
13,093 visits/mo
0.4 miles
Applebee's
Dining
12,391 visits/mo
0.5 miles
Little Caesars Pizza
Dining
11,509 visits/mo
0.5 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
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - The sale includes cooking, refrigeration, food-preparation, and point-of-sale equipment.
Where is this conventional restaurant located?
The property is located at 422 N L Street Harlingen, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,708‑square‑foot restaurant building, built in 2006; Kitchen equipment includes a griddle, fryer, grill, commercial refrigerator, and freezer; Includes a three‑compartment sink, cold prep table, shelving, and racks
