2000 Expressway 83 Harlingen, TX 78552

Property Details for 2000 Expressway 83

Year built

1984

Lot size

23.20 lot acres

Property size

391,617 SF

Zone code

C

Property type

Commercial real estate

APN

18-4110-0010-0010-00

APU

1841100010001000

Description

This exceptional 101,308-square-foot shopping center presents a compelling value-add investment opportunity in Harlingen, Texas. Located at 2000 S Expressway 83, this property boasts prime visibility on a major thoroughfare with over 140,000 vehicles passing daily, providing unparalleled exposure for future tenants. Currently vacant, this 7.39-acre site offers significant potential for repositioning and substantial improvements. Built in 1984 and renovated in 2004, the existing infrastructure allows for below-market lease rates, creating a competitive advantage in the market. The asking price is $6,600,000, representing a well below replacement cost of $65 per square foot. High new construction costs in the area make the development of comparable large anchor spaces unfeasible, further enhancing the investment potential. This property benefits from its location in a core retail corridor and the significant economic activity driven by the Texas-Mexico trade, totaling $615 billion in 2023. A strong population base within a 15-minute drive radius and proximity to the Harlingen Airport, a Southwest Hub serving the entire Rio Grande Valley, add to its strategic appeal. The property's Net Operating Income (NOI) is $101,308. This is an ideal opportunity for retail and regional mall investors seeking strong value-add return potential.