118 E Harrison Ave - Retail FOR SALE


Harlingen, TX 78550
$5,388,000 USD
949-547-2213
118 E Harrison Ave, Harlingen, TX for Sale
$5,388,000 USD
Retail - FOR SALE
1/9
null | 10.01% Cap Rate

118 E Harrison Ave
Harlingen, TX 78550


HIGHLIGHTS

  • 2.00 Acre Parcel | Along State Highway 206 (21,800 VPD) | Investment Grade Tenant | Currently Subleased to Dollar Tree
  • Near Award Winning Valley Baptist Medical Center (586 Beds)
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities | Income Tax Free State
  • Strong National/Credit Tenants | Dense Retail Corridor | Direct Residential Consumer Base | Multiple Apartment Complexes
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

The asset is strategically located at the signalized, hard corner intersection of South Commerce Street and Tyler Avenue which supports more than 30,500 VPD. Furthermore, the site benefits from nearby access to Interstate 69E (96,800 VPD) and Tyler Avenue (21,800 VPD), making this an ideal, centralized location with easy commutes. The property is located less than two miles from Valley Baptist Medical Center, a leading regional healthcare institution with approximately 586 beds, providing full-service acute and specialty care to the Rio Grande Valley. The award-winning hospital has been recognized by the American Heart Association for excellence in stroke care, holds Level II Trauma Center and Robotic Surgery Center of Excellence designations, and is accredited by the American College of Cardiology for its cardiac programs. The asset is in a dense retail corridor and is within close proximity to multiple national/credit tenants including Walmart Supercenter, Sams Club, Target, TJ Maxx, Kohls, H-E-B, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. The 5-mile subject trade area is supported by more than 96,000 residents and 37,000 daytime employees who earn affluent average household incomes of more than $75,000.

FOR SALE DETAILS

PRICE

$5,388,000 USD

PRICE/SF

$388 USD /SF

CAP RATE

10.01%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

CVS Pharmacy (Subleased to Dollar Tree)

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

102

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

GR

APN/PARCEL ID

150001-0010-001000

ASK ABOUT THIS PROPERTY

John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

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John RedfieldSRS Real Estate PartnersMore Info
949-547-2213

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.