4405 Glasscock AveHarlingen, TX 78550

Property Details for 4405 Glasscock Ave

Year built

1970

Lot size

11.61 AC

Property size (Sq ft)

86,640 SF

Property type

Commercial real estate

APN

19-0592-0010-0010-00

APU

1905920010001000

Description

Exceptional investment opportunity: a newly renovated, 86,640 square foot Ashley Furniture warehouse and distribution center in Harlingen, Texas. This fee-simple property boasts a 7-year net lease with a strong franchisee tenant (Ashley Furniture), commencing November 28, 2023, and expiring November 29, 2030. The lease includes 3% annual rent bumps, providing a hedge against inflation. The property features 14 dock-high doors, 25-foot ceilings, and ample parking (170 spaces) on a 5.74-acre lot. Significant renovations were completed in 2023, totaling nearly $4.6 million in landlord-paid improvements. The property offers a 7.21% cap rate and a strong NOI of $643,415. The lease includes two 5-year renewal options. Located at 4405 Glasscock Ave, Harlingen, TX 78550, this prime logistics hub benefits from cross-border connectivity and strong demographics. The asking price is $8,925,000.

Location Insight

City

Harlingen

County

Cameron

State

Texas

Latitude

26.1715

Longitude

-97.6777

CBSA code

15180

CBSA name

BROWNSVILLE-HARLINGEN, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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