Corner Commercial Lot with
For Sale
Contact for pricing
1561 77 SUNSHINE STRIP, Harlingen, TX 78550
Over 1/2 acre corner lot with existing building.
Property Size1,232 SF
Lot Size0.50 Acres
Price / SF$324.68
Days on Market648
Property Features for 1561 77 SUNSHINE STRIP
General Information
Standard status
Active
Size
1,232 SF
Lot size
0.50 Acres
Property subtype
Special Purpose
Building Details
Year Built
1950
Listing Agency:
RODRIGUEZ PROPERTIES
(956) 456-6653
Listed By:
TONY RODRIGUEZ · License #TX
Source:
Crexi
Added: Nov 13, 2024
Changed: Aug 8
Last Checked: Aug 22 at 3:41PM
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 RODRIGUEZ PROPERTIES
Investment Insights
Based on property information with market context.
This property features a commercial lot with a 1,232 square foot building. The property is located on a corner lot with approximately 194 feet of frontage on Sunshine Strip and 193 feet on 1st Street. Currently used as a Vehicle Inspection Station and Auto Detail Shop, the property offers possibilities for expansion. The property is currently being rented month to month.
Key Highlights
- Prime corner lot location at 77 Sunshine Strip and 1st Street.
- Large 0.5+ acre commercial lot with expansion potential.
- High‑visibility location across from the Texas Department of Motor Vehicles.
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
$11,723
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
2.93%
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%
$234,460
$234.5K
Cap Rate 7%
$167,471
$167.5K
Cap Rate 9%
$130,256
$130.3K
Market Conditions
NOI Build-Up for 1,232 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
$17.7K $14.40/SF
− Vacancy
−$993 −$0.81/SF
EGI
$16.7K $13.59/SF
− OpEx
−$5.0K −$4.08/SF
NOI
$11.7K $9.52/SF
Area
Cameron County, TX
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$234,460
Cap Rate 7%
$167,471
Cap Rate 9%
$130,256
Alternative Uses
Best Use
Retail
$167.5K
$146.5K – $195.4K
NOI $11,723 @ 7.0% cap · market cap 2.93%
Second Best
Industrial
$82.3K
$72.1K – $96.1K
NOI $5,764 @ 7.0% cap · market cap 1.44%
Theoretical Best
Healthcare Medical
$212.1K
$185.6K – $247.5K
NOI $14,849 @ 7.0% cap · market cap 3.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
32k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 56%
Shops & Services 40%
Electronics 3%
La Michoacana Meat Market
Groceries
17,787 visits/mo
0.4 miles
Valero Energy
Shops & Services
7,527 visits/mo
0.5 miles
Dollar General
Shops & Services
4,948 visits/mo
0.4 miles
Cricket Wireless Authorized Retailer
Electronics
1,036 visits/mo
0.0 miles
Jackson Hewitt Tax Service
Shops & Services
321 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Automotive property - Over 1/2 acre corner lot with existing building.
Where is this automotive property located?
The property is located at 1561 77 SUNSHINE STRIP Harlingen, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Prime corner lot location at 77 Sunshine Strip and 1st Street.; Large 0.5+ acre commercial lot with expansion potential.; High‑visibility location across from the Texas Department of Motor Vehicles.
