Insulated Flex
For Sale
$675,000
6101 Fm 106, Harlingen, TX 78550
Air-conditioned office and warehouse space with gated outdoor storage and direct FM 106 frontage.
Property Size4,970 SF
Lot Size2.42 Acres
Price / SF$135.81
Days on Market37
Property Features for 6101 Fm 106
General Information
Standard status
Active
Size
4,970 SF
Lot size
2.42 Acres
Site & Location
Road Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Office Build-Out
520 SF
Drive-In Doors
2
Building Details
Year Built
2018
Buildings
1
Building Size
4,970 SF
Construction
metal
Listing Agency:
LOLLY BURNS REAL ESTATE, LLC
(956) 423-0400
Listed By:
CARLY B THOMAS · License #0508807
Source:
Accessrealtyrgv
Added: Jul 23
Changed: Aug 27
Last Checked: Aug 27 at 11:48PM
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 LOLLY BURNS REAL ESTATE, LLC
Investment Insights
Based on property information with market context.
Built in 2018, this insulated metal flex building combines a functional warehouse with an air-conditioned reception, office, and restroom area totaling about 520 square feet, plus storage above. The 70-by-71-foot warehouse has an epoxy-coated floor and 12-by-12-foot overhead doors on both the east and west sides.
The property encompasses 2.42 acres along FM 106 with 175 feet of frontage. Two caliche drives extend toward the rear, where approximately 1.3 acres are fenced and gated. Access to FM 106 is shared with the neighboring property. The building is occupied and available for showings on short notice. A car lift, furniture, and other on-site equipment may be negotiated separately.
The property encompasses 2.42 acres along FM 106 with 175 feet of frontage. Two caliche drives extend toward the rear, where approximately 1.3 acres are fenced and gated. Access to FM 106 is shared with the neighboring property. The building is occupied and available for showings on short notice. A car lift, furniture, and other on-site equipment may be negotiated separately.
Key Highlights
- 2018‑built, fully insulated metal flex building measuring 70' x 71'
- Air‑conditioned reception, office, and restroom area of about 520 sq ft with storage above
- East and West 12x12 overhead warehouse doors
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
$42,514
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
6.30%
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%
$850,280
$850.3K
Cap Rate 7%
$607,343
$607.3K
Cap Rate 9%
$472,378
$472.4K
Market Conditions
NOI Build-Up for 4,970 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
$66.2K $13.32/SF
− Vacancy
−$794 −$0.16/SF
EGI
$65.4K $13.16/SF
− OpEx
−$22.9K −$4.61/SF
NOI
$42.5K $8.55/SF
Area
Cameron County, TX
Vacancy
1.20%
Lease Rate
$13.32 /SF/Yr
Expense Ratio
35.00%
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%
$850,280
Cap Rate 7%
$607,343
Cap Rate 9%
$472,378
Alternative Uses
Best Use
Flex RnD
$607.3K
$531.4K – $708.6K
NOI $42,514 @ 7.0% cap · market cap 6.30%
Second Best
Warehouse
$403.4K
$352.9K – $470.6K
NOI $28,235 @ 7.0% cap · market cap 4.18%
Theoretical Best
Healthcare Medical
$855.7K
$748.8K – $998.4K
NOI $59,902 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Air-conditioned office and warehouse space with gated outdoor storage and direct FM 106 frontage.
Where is this flex space located?
The property is located at 6101 Fm 106 Harlingen, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2018‑built, fully insulated metal flex building measuring 70' x 71'; Air‑conditioned reception, office, and restroom area of about 520 sq ft with storage above; East and West 12x12 overhead warehouse doors
