Building Details

Year Built 2023

Listing Agency: CHRE Cindy Hopkins Real Estate

Listed By: Cynthia Hopkins · License #0508052 Show Phone

Source: Accessrealtyrgv

Added: Jul 10 Changed: Oct 4 Last Checked: Oct 7 at 5:21PM

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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 CHRE Cindy Hopkins Real Estate

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Investment Insights

Based on property information with market context.

This 2023 industrial property comprises four approximately 5,000-square-foot warehouses within a newly subdivided 1.36-acre lot. Each building includes approximately 570 square feet of office area and 4,430 square feet of warehouse space, along with graduated ceiling heights and two 12-foot by 12-foot grade-level doors. The seller, a general contractor, can provide build-to-suit construction based on business requirements.

The property is part of Harlingen Industrial Park – Phase III, with ingress and egress from FM 509 (Paseo Real) and FM 106 (E Harrison). Water, sewer, and mowing are shared and billed through NNN charges, while electricity is separately metered. Approximate lot dimensions are 195 feet by 295 feet.

Key Highlights

• Four 5,000 sf warehouses on a +/- 1.36 Acre newly subdivided industrial lot
• Each warehouse includes +/- 570 sf office and 4,430 sf Warehouse space
• Two (2) 12' x 12' Grade Level Doors per warehouse

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,405

Cap Rate

6.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$568,100 $568.1K

Cap Rate 7%

$405,786 $405.8K

Cap Rate 9%

$315,611 $315.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,000 SF

Gross rent

$35.4K $7.08/SF

− Vacancy

−$2.0K −$0.40/SF

EGI

$33.4K $6.68/SF

− OpEx

−$5.0K −$1.00/SF

NOI

$28.4K $5.68/SF

Area

Cameron County, TX

Vacancy

5.60%

Lease Rate

$7.08 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$568,100

Cap Rate 7%

$405,786

Cap Rate 9%

$315,611

Alternative Uses

Best Use

Flex RnD

$611.0K

$534.6K – $712.9K (±1% cap)

NOI $42,771 @ 7.0% cap · market cap 10.31%

Second Best

Warehouse

$405.8K

$355.1K – $473.4K (±1% cap)

NOI $28,405 @ 7.0% cap · market cap 6.84%

Theoretical Best

Healthcare Medical

$860.9K

$753.3K – $1.00M (±1% cap)

NOI $60,264 @ 7.0% cap · market cap 14.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Iron Paradise Gym Gym & Fitness Center Dental Assistant Training ... Dental Office

Suggested Use

Top Pick Storage Facility Pharmacy Real Estate Agency Cosmetic Store Travel Agency Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

58

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Contact for pricing

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Warehouse - Four warehouse buildings offer office components, grade-level loading, shared access, and separately metered electricity.

Where is this warehouse located?

The property is located at 6201 Fm 106 Unit 4 Harlingen, TX.

What is the asking price?

The asking price for this property is $415,000.

What are key features of this property?

This property features: Four 5,000 sf warehouses on a +/- 1.36 Acre newly subdivided industrial lot; Each warehouse includes +/- 570 sf office and 4,430 sf Warehouse space; Two (2) 12' x 12' Grade Level Doors per warehouse