Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    625 Loop 499 Harlingen, TX 78550

    Sponsored
    For Sale
    $765,000

    8-Unit Apartment Building, High ROI Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 8-unit apartment building, constructed in 2022, presents a compelling investment opportunity in Harlingen, Texas. Located at 625 Loop 499, this property boasts a prime location near Valley International Airport and Texas State Technical College (TSTC), ensuring high occupancy rates. The building sits on a spacious one-acre corner lot, offering significant potential for future expansion. Imagine the possibilities – additional multi-family units or even a commercial plaza could be developed on this expansive land. Currently, seven of the eight units are leased, generating immediate cash flow. Each unit is a one-bedroom, one-bathroom apartment, equipped with a tankless water heater and convenient washer/dryer hookups. Individual electric meters and a single water meter simplify utility management. The asking price is $765,000, representing a strong return on investment in a thriving Texas market. This property is a turnkey operation, ideal for both seasoned investors and those seeking a stable, income-producing asset. The strategic location and modern construction combine to create a truly exceptional investment opportunity. Don't miss out on this chance to acquire a high-demand multifamily property in a rapidly growing area.

    Property Features for 625 Loop 499

    General Information

    Property type
    Multifamily properties
    Lot Size
    43,560 SF

    Building Details

    Year Built
    2022
    Buildings
    1
    Units
    8

    We can help!

    Listing Contact
    Monica Benavides

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Krystal's Korner Apartment Complex

    Suggested Use

    Realty agency Law Firm Dental Office Nail Salon Building Supply Auto Repair Shop Pharmacy Wholesale Shop 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
    -97.6632023
    Latitude
    26.2097876

    Nearby Similar for Sale

    • $219,000
      Pending

      Harlingen Duplex Overlooking Golf Course

      Duplex with golf course views, excellent accessibility, investment potential.
      6124 Masters Blvd, Harlingen, TX 78552
      View Details
    • $425,000
      3,320 SF

      Harlingen Fourplex: Investment Opportunity

      Fully occupied fourplex near Expressway 83 and Harlingen Airport.
      2021 Southridge Dr, Harlingen, TX 78552
      View Details
    • $399,500
      2,600 SF

      Harlingen Commercial Office Opportunity

      Prime commercial office with great visibility and easy access.
      17745 Expressway 83 W, Harlingen, TX 78553
      View Details
    • $1,200,000
      9,180 SF

      Harlingen Freestanding Commercial Building For Sale

      9,180 SF commercial building in Harlingen, TX, available for sale.
      3809 W Business 83, Harlingen, TX 78552
      View Details
    • $250,000
      Pending

      Updated Duplex in Harlingen, Texas

      Updated duplex with income potential in a desirable Harlingen neighborhood.
      2518 Chuparosa Ct, Harlingen, TX 78550
      View Details
    • $400,000
      7,000 SF

      Highway Frontage Retail Opportunity

      3.5 acres with retail frontage and expansion potential.
      8469 W Business 83, Harlingen, TX 78555
      View Details
    • $340,000
      7,860 SF

      Harlingen Commercial Property For Sale

      Corner commercial property with high visibility and operational flexibility.
      2102 N 77 Sunshine Strip, Harlingen, TX 78550
      View Details
    • $340,000
      7,860 SF

      Harlingen Commercial Corner Property

      Versatile 7,608 SF commercial property with high visibility.
      2102 N 77 Sunshine Strip, Harlingen, TX 78550
      View Details
    • $219,000
      Pending

      Harlingen Duplex with Investment Potential

      Duplex with 2 units, garages, and private yards.
      6020 Masters Blvd, Harlingen, TX 78552
      View Details
    • $419,000
      560 SF

      Harlingen Mixed-Use Property For Sale

      Updated home with commercial potential in a prime location.
      406 Expressway 77 N, Harlingen, TX 78550
      View Details
    • $499,000
      2,368 SF

      Renovated Harlingen Office with Storage

      Move-in ready office space with storage in Harlingen, Texas.
      3202 E Grimes Rd, Harlingen, TX 78550
      View Details
    • $200,000
      4,900 SF

      Established Restaurant Business Opportunity

      Well-established Japanese Teppanyaki restaurant business for sale in Harlingen, TX.
      901 N Ed Carey Dr, Harlingen, TX 78550
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 8-Unit Apartment Building, High ROI Potential
    Where is this multifamily property 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.
    Request Owner's contact information
    625 Loop 499 Harlingen, TX 78550
    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.
    625 Loop 499
    Harlingen, TX 78550
    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
    625 Loop 499 Harlingen, TX 78550
    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

    We can help!
    Listing Contact
    Monica Benavides
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.