Multi-Suite Rehabilitation
For Sale
$1,089,530
8002 W Expressway 83, Harlingen, TX 78552
Commercial Sale, Harlingen, TX
Property Size7,514 SF
Lot Size0.67 Acres
Price / SF$145
Days on Market95
Property Features for 8002 W Expressway 83
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
15
Accessibility
Accessible Approach with Ramp
Appliances
Electric Water Heater
Subdivision
Stuart Place
Directions
From the intersection of Stuart Place Road and West Expressway 83, head West on the US-83 Frontage Road until you reach Beckham Road, property is on the corner of US-83 Frontage Road and Beckham Road.
Standard status
Active
APN
9842460000007000
Size
7,514 SF
Lot size
0.67 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9884
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
2002
Floors in Building
1
Building materials
Brick
Roof type
Metal
Listing Agency:
Alliance Real Estate Group
(956) 340-4633
Listed By:
Fernando Jaime Pacheco · License #9003075
(956) 212-1095
Added: Jun 12
Changed: Sep 12
Last Checked: Sep 14 at 12:06AM
MLS# 507200
Copyright © 2026 Greater McAllen Association of Realtors. 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 7,514-square-foot commercial building is configured as four suites, including a contiguous area exceeding 5,000 square feet that is currently used for medical rehabilitation. The layout supports a combination of treatment, administrative, and office functions within one property. Built in 2002, the structure features brick construction, a metal roof, central air conditioning, central and electric heating, and an electric water heater. An accessible approach with ramp provides entry accommodations.
The property sits along the frontage road for Expressway 83 in Harlingen, offering direct access to the highway corridor. The 0.6667-acre site combines the building with its surrounding commercial land area and is suited to continued rehabilitation use or other office-oriented healthcare operations supported by the existing suite configuration.
The property sits along the frontage road for Expressway 83 in Harlingen, offering direct access to the highway corridor. The 0.6667-acre site combines the building with its surrounding commercial land area and is suited to continued rehabilitation use or other office-oriented healthcare operations supported by the existing suite configuration.
Key Highlights
- 7,514‑square‑foot commercial building on a 0.6667‑acre site
- Four suites, including a contiguous space exceeding 5,000 square feet
- Current medical rehabilitation configuration
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
$90,565
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
8.31%
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%
$1,811,300
$1.8M
Cap Rate 7%
$1,293,786
$1.3M
Cap Rate 9%
$1,006,278
$1.0M
Market Conditions
NOI Build-Up for 7,514 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
$162.3K $21.60/SF
− Vacancy
−$11.4K −$1.51/SF
EGI
$150.9K $20.09/SF
− OpEx
−$60.4K −$8.04/SF
NOI
$90.6K $12.05/SF
Area
Cameron County, TX
Vacancy
7.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,811,300
Cap Rate 7%
$1,293,786
Cap Rate 9%
$1,006,278
Alternative Uses
Best Use
Healthcare Medical
$1.29M
$1.13M – $1.51M
NOI $90,565 @ 7.0% cap · market cap 8.31%
Second Best
Office B
$985.4K
$862.2K – $1.15M
NOI $68,979 @ 7.0% cap · market cap 6.33%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 78552, TX
38,474
Population
16,009
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
81%
High-School Grad
48.0 sq mi
ZIP Area
802
Density / Sq Mi
$67,183
Median Household Income
$34,571
Median Earnings
$1,054
Median Rent
$154,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Commercial rehabilitation facility with flexible office areas, ramp access, and direct frontage-road connectivity.
Where is this rehabilitation center located?
The property is located at 8002 W Expressway 83 Harlingen, TX.
What is the asking price?
The asking price for this property is $1,089,530.
What are key features of this property?
This property features: 7,514‑square‑foot commercial building on a 0.6667‑acre site; Four suites, including a contiguous space exceeding 5,000 square feet; Current medical rehabilitation configuration
