Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    New Multifamily Property on Loop Title is generated by Realmo AI

    625 Loop 499, Harlingen, TX 78550

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    New 8-unit multifamily property on a large corner lot.

    Type:Multifamily
    Added:
    Nov 11, 2023
    Days on Market:
    934
    Last Refresh:
    May 12 at 9:32 pm

    Property Features for 625 Loop 499

    General Information

    Standard status
    Active
    Property subtype
    Multifamily

    Building Details

    Year Built
    2022

    We can help!

    Listing Contact
    Monica Benavides

    Listing agent Monica Benavides

    Listing office THE MBTEAM

    Listing date Nov 11, 2023

    Source Crexi

    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 THE MBTEAM

    HighLights

    • Potential for additional multi‑family buildings and a commercial plaza.
    • New construction (2022) 8‑unit multi‑family property.
    • 7 of 8 units currently leased.
    • Located on Loop 499, close to Valley International Airport and TSTC.
    • Each unit has tankless water heater and washer/dryer hookups.
    • Large corner lot.

    Overview

    This new construction multifamily property features eight units and is situated on a large corner lot. Each unit includes one bedroom and one bathroom. The property is located on Loop 499, offering proximity to Valley International Airport and TSTC. Seven of the eight units are currently leased. Each unit is equipped with a tankless water heater and washer and dryer hookups. The property has one water meter and individual electric meters. The property has potential for additional multi-family buildings and a commercial plaza.
    Property Profile Location Intelligence

    Current Use by Public Records

    Krystal's Korner Apartment Complex

    Suggested Use

    Real Estate Agency Law Firm Dental Office Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store Daycare Center Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harlingen
    County
    Cameron
    State
    Texas
    Longitude
    -97.690692
    Latitude
    26.224357

    Nearby Similar for Sale

    • $340,000
      7,860 SF

      Versatile Corner Commercial Property

      7,608 SF commercial building suitable for various business uses.
      2102 N 77 Sunshine Strip, Harlingen, TX 78550
      View Details
    • $325,000
      3,473 SF

      Harlingen Commercial Building For Sale

      3,473 SF commercial building suitable for various business uses.
      17745 W EXPRESSWAY 83, HARLINGEN, TX 78555
      View Details
    • $789,000
      5,161 SF

      Harlingen Commercial Property For Sale

      Spacious building suitable for medical or rehabilitation center.
      1100 W TYLER AVE., HARLINGEN, TX 78550
      View Details
    • $339,000
      4,473 SF

      Downtown Harlingen Commercial Building

      Centrally located building with courtyard, suitable for various businesses.
      1014 E Harrison Avenue, Harlingen, TX 78550
      View Details
    • $375,000
      2,808 SF

      Turnkey Multifamily Investment Opportunity

      Fully leased quadplex on oversized lot near Sunshine Strip.
      1921 Dennis Street, Harlingen, TX 78550
      View Details
    • $390,000
      2,368 SF

      Harlingen Commercial Space For Sale

      Prime commercial space in Harlingen, move-in ready for various businesses.
      3202 E GRIMES RD, HARLINGEN, TX 78550
      View Details
    • $1,095,000
      1,200 SF

      Harlingen Grain Storage Facility

      Commercial grain storage and processing facility in north Harlingen.
      22056 N Bass Boulevard, Harlingen, TX 78552
      View Details
    • $399,000
      4,962 SF

      Harlingen Multifamily Investment Opportunity

      Treasure Hills multifamily property near Valley Baptist, Harlingen, TX.
      2302 Treasure Hills Boulevard, Harlingen, TX 78550
      View Details
    • $335,000
      2,570 SF

      Harlingen Duplex in Medical Center

      Turnkey duplex in high-demand rental market near Medical Center.
      2631/2635 HUNTERS CROSSING ST., HARLINGEN, TX 78550
      View Details
    • $334,999

      Established Business Opportunity in Harlingen

      Turnkey business with equipment and growth potential in Harlingen, TX.
      717 E HARRISON AVE., HARLINGEN, TX 78550
      View Details
    • $999,500
      9,180 SF

      Harlingen Freestanding Commercial Building

      Freestanding 9,180 SF building in Harlingen, Texas for sale.
      3809 W BUSINESS 83 lot: 1, Blk 1, HARLINGEN, TX 78552
      View Details
    • $29,900

      El Ranchito Mobile Home Lot

      Move-in ready lot in a 55+ mobile home community.
      2002 TAMM LN lot: 20, HARLINGEN, TX 78552
      View Details

    FAQs

    What type of property is this?
    Apartment building - New 8-unit multifamily property on a large corner lot.
    Where is this apartment building located?
    The property is located at 625 Loop 499 Harlingen, TX.
    What is the asking price?
    The asking price for this property is $765,000.
    What are key features of this property?
    This property features: Potential for additional multi‑family buildings and a commercial plaza.; New construction (2022) 8‑unit multi‑family property.; 7 of 8 units currently leased.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Monica Benavides
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    625 Loop 499, Harlingen, TX 78550
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!