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Shopping Strip

The Plaza of Harlingen

302 S Ed Carey Dr, Harlingen, TX 78550

Listing Price: $7,856,000

Cap Rate
6.48%
Rentable SF
45,296
Lot Size
4.26 acres
Year Built
1976

Investment Overview

The subject property is a 45,296 SF multi-tenant retail center situated on 4.26 acres in Harlingen, Texas. The retail center is located just off the signalized intersection of South Ed Carey Drive and US 83. This major interstate runs approximately 40 miles from Harlingen through the cities of Mercedes, Weslaco, Pharr, McAllen and Mission. It is an outparcel to Lowe’s and across the street from Home Depot. The property is 86 percent occupied and is anchored by Dollar Tree which totals 10,880 SF and accounts for 24 percent of the rent roll. Dollar Tree has a credit rating of “BBB” by S&P. Nova Medical Centers (USOH) occupies approximately 15 percent of the rent roll or 6,700 SF and provides occupational medicine for work injury and physical therapy in 60 locations in 5 states. Kindred at Home occupies almost 12 percent of the rent roll or 5,250 SF and is one of the largest providers of home care services with 775 locations in 40 states. All leases are NNN with the exception of Dollar Tree which has a cap of 4 percent on CAM. All tenants are obligated to pay management fees except Dollar Tree.

Investment Highlights

  • Value Add Shopping Center | 86% Occupied
  • Outparcel to Lowes | Across From Home Depot
  • Anchored by Dollar Tree & Nova Medical Center (Over 60 Locations)
  • Good Mix of Service and Medical tenants (35.6% Medical)

Exclusively Listed By

Shopping Strip

The Plaza of Harlingen

Listing Price: $7,856,000

Cap Rate
6.48%
Rentable SF
45,296
Lot Size
4.26 acres
Year Built
1976

Investment Highlights

  • Value Add Shopping Center | 86% Occupied
  • Outparcel to Lowes | Across From Home Depot
  • Anchored by Dollar Tree & Nova Medical Center (Over 60 Locations)
  • Good Mix of Service and Medical tenants (35.6% Medical)

Investment Overview

The subject property is a 45,296 SF multi-tenant retail center situated on 4.26 acres in Harlingen, Texas. The retail center is located just off the signalized intersection of South Ed Carey Drive and US 83. This major interstate runs approximately 40 miles from Harlingen through the cities of Mercedes, Weslaco, Pharr, McAllen and Mission. It is an outparcel to Lowe’s and across the street from Home Depot. The property is 86 percent occupied and is anchored by Dollar Tree which totals 10,880 SF and accounts for 24 percent of the rent roll. Dollar Tree has a credit rating of “BBB” by S&P. Nova Medical Centers (USOH) occupies approximately 15 percent of the rent roll or 6,700 SF and provides occupational medicine for work injury and physical therapy in 60 locations in 5 states. Kindred at Home occupies almost 12 percent of the rent roll or 5,250 SF and is one of the largest providers of home care services with 775 locations in 40 states. All leases are NNN with the exception of Dollar Tree which has a cap of 4 percent on CAM. All tenants are obligated to pay management fees except Dollar Tree.

Exclusively Listed By

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