Retail Space Near
For Sale
$185,000
605 E TYLER AVE., Harlingen, TX 78550
Commercial Sale, HARLINGEN, TX
Property Size1,272 SF
Lot Size0.16 Acres
Price / SF$145.44
Days on Market96
Property Features for 605 E TYLER AVE.
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
ORIGINAL TOWNSITE
Standard status
Active
Size
1,272 SF
Lot size
0.16 Acres
Building Details
Year built
2002
Floors in Building
1
Listing Agency:
Realty One Group, Modern Edge
(956) 908-0325
Listed By:
KARIM ZAPATERO · License #TREC#0826241
(956) 536-3336
Added: Jun 15
Changed: Sep 7
Last Checked: Sep 18 at 4:06PM
MLS# 29777174
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail space at 605 E Tyler Ave. in Harlingen contains 1,272 square feet on a 0.1607-acre site. The property was built in 2002 and is classified as retail space, providing an established commercial setting for a retail-oriented operation.
Located near downtown Harlingen, the property offers access from E Tyler Ave. and is positioned within the city’s central area. Its location and existing commercial format support continued retail use, subject to applicable requirements.
Located near downtown Harlingen, the property offers access from E Tyler Ave. and is positioned within the city’s central area. Its location and existing commercial format support continued retail use, subject to applicable requirements.
Key Highlights
- 1,272 square feet of retail space
- 0.1607‑acre site
- Built in 2002
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
$12,104
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
6.54%
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%
$242,080
$242.1K
Cap Rate 7%
$172,914
$172.9K
Cap Rate 9%
$134,489
$134.5K
Market Conditions
NOI Build-Up for 1,272 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
$18.3K $14.40/SF
− Vacancy
−$1.0K −$0.81/SF
EGI
$17.3K $13.59/SF
− OpEx
−$5.2K −$4.08/SF
NOI
$12.1K $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 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%
$242,080
Cap Rate 7%
$172,914
Cap Rate 9%
$134,489
Alternative Uses
Best Use
Retail
$172.9K
$151.3K – $201.7K
NOI $12,104 @ 7.0% cap · market cap 6.54%
Second Best
Office B
$166.8K
$146.0K – $194.6K
NOI $11,677 @ 7.0% cap · market cap 6.31%
Theoretical Best
Healthcare Medical
$219.0K
$191.6K – $255.5K
NOI $15,331 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,632
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space along E Tyler Ave. near downtown Harlingen with direct access from a central commercial corridor.
Where is this retail space located?
The property is located at 605 E TYLER AVE. Harlingen, TX.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: 1,272 square feet of retail space; 0.1607‑acre site; Built in 2002
