Coastal Storefront
For Sale
$440,900
10306 S Padre Island Drive, Corpus Christi, TX 78418
CommercialSale, Corpus Christi, TX
Property Size1,610 SF
Lot Size0.16 Acres
Price / SF$273.85
Days on Market51
Property Features for 10306 S Padre Island Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Flour Bluff Estates
Standard status
Active
APN
248600010020
Size
1,610 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
FLOUR BLUFF ESTATES 8OX85 FT LT 2 BK A
Legal Description
FLOUR BLUFF ESTATES 8OX85 FT LT 2 BK A
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1972
Floors in Building
1
Listing Agency:
ValTex Realty
(361) 765-9711
Listed By:
David Oliveira · License #0448849
(361) 537-9577
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 8 at 8:06AM
MLS# 479708
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,610-square-foot storefront property sits on a 0.16-acre parcel and was built in 1972. The building has a coastal-themed exterior with murals, large display windows, and space for business signage. Central air conditioning and electric central heating serve the property, while public water and public sewer are available.
The property is located at 10306 S Padre Island Drive in Corpus Christi, near the Flour Bluff area and just off South Padre Island Drive. Its position provides access toward North Padre Island, Mustang Island, Corpus Christi, area beaches, marinas, and NAS Corpus Christi. The commercial layout can support retail, office, restaurant, or service-oriented use, subject to applicable requirements.
The property is located at 10306 S Padre Island Drive in Corpus Christi, near the Flour Bluff area and just off South Padre Island Drive. Its position provides access toward North Padre Island, Mustang Island, Corpus Christi, area beaches, marinas, and NAS Corpus Christi. The commercial layout can support retail, office, restaurant, or service-oriented use, subject to applicable requirements.
Key Highlights
- 1,610‑square‑foot storefront building on a 0.16‑acre parcel
- Built in 1972 with central air conditioning and electric central heating
- Large display windows and exterior murals provide distinctive storefront character
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
$18,562
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
4.21%
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%
$371,240
$371.2K
Cap Rate 7%
$265,171
$265.2K
Cap Rate 9%
$206,244
$206.2K
Market Conditions
NOI Build-Up for 1,610 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
$29.0K $18.00/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$26.5K $16.47/SF
− OpEx
−$8.0K −$4.94/SF
NOI
$18.6K $11.53/SF
Area
ZIP 78418
Vacancy
8.50%
Lease Rate
$18.00 /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%
$371,240
Cap Rate 7%
$265,171
Cap Rate 9%
$206,244
Alternative Uses
Best Use
Retail
$265.2K
$232.0K – $309.4K
NOI $18,562 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$615.5K
$538.5K – $718.0K
NOI $43,082 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
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.
Frequently Asked Questions
What type of property is this?
Storefront property - Standalone commercial building with display windows, coastal-themed murals, and convenient access near South Padre Island Drive.
Where is this storefront property located?
The property is located at 10306 S Padre Island Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $440,900.
What are key features of this property?
This property features: 1,610‑square‑foot storefront building on a 0.16‑acre parcel; Built in 1972 with central air conditioning and electric central heating; Large display windows and exterior murals provide distinctive storefront character
