Refreshed Quadplex with
For Sale
$995,000
Pending
110 E Retama St., South Padre Island, TX 78597
Residential Income, South Padre Island, TX
Property Size5,240 SF
Days on Market210
Property Features for 110 E Retama St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
12
Bathrooms
14
Full bathrooms
14
Rooms
Bathroom 13, Bedroom 8, Bathroom 2, Bedroom 1, Bedroom 11, Bathroom 6, Bedroom 4, Bathroom 7, Bedroom 9, Bathroom 9, Bedroom 12, Bedroom 3, Bathroom 4, Bathroom 5, Bedroom 5, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 14, Bedroom 7, Bedroom 10, Bathroom 12, Bathroom 8, Bathroom 1, Bathroom 11, Bathroom 10
Parking features
Assigned
Patio and Porch features
Patio
Interior features
Cabinets-Custom, Ceiling Fan(s), Unfurnished, Washer/Dryer Hook-up, Window Treatment
Exterior features
Balcony, Patio, Storm Shutters
Appliances
Microwave, Refrigerator, Stove, Washer/Dryer
Lot features
Gulf Interior
Elementary school district
Point Isabel ISD
Middle school district
Point Isabel ISD
High school district
Point Isabel ISD
Subdivision
South Padre Island
Standard status
Pending
Size
5,240 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
23073
Building Details
Year built
2014
Floors in Building
2
Number of units
4
Flooring type
Tile
Building materials
Stucco
Roof type
Composition
Listing Agency:
Blue Heron Realty & Management, LLC
(956) 466-8412
Listed By:
Maggie Bolado · License #555293
(956) 466-8412
Added: Jan 27
Changed: Aug 20
Last Checked: Aug 25 at 11:06AM
MLS# 104806
Copyright © 2026 South Padre Island Board of Realtors. 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 5,240-square-foot quadplex contains four condo residences and was built in 2014. The refreshed property includes 12 bedrooms and 14 bathrooms, with tile flooring, custom cabinetry, ceiling fans, window treatments, and washer and dryer equipment. Kitchens are equipped with refrigerators, stoves, and microwaves, while exterior features include balconies, patios, and storm shutters.
The property is located at 110 E Retama St. in South Padre Island, Texas, and carries R zoning. Assigned parking serves the residences. Stucco construction, composition roofing, and the existing residential configuration provide a defined physical foundation for continued rental use.
The property is located at 110 E Retama St. in South Padre Island, Texas, and carries R zoning. Assigned parking serves the residences. Stucco construction, composition roofing, and the existing residential configuration provide a defined physical foundation for continued rental use.
Key Highlights
- 5,240‑square‑foot quadplex with four condo residences
- 12 bedrooms and 14 bathrooms across the property
- Built in 2014 with refreshed interiors and tile flooring
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
$43,231
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
4.34%
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%
$864,620
$864.6K
Cap Rate 7%
$617,586
$617.6K
Cap Rate 9%
$480,344
$480.3K
Market Conditions
NOI Build-Up for 5,240 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
$66.0K $12.60/SF
− Vacancy
−$4.3K −$0.81/SF
EGI
$61.8K $11.79/SF
− OpEx
−$18.5K −$3.54/SF
NOI
$43.2K $8.25/SF
Area
Cameron County, TX
Vacancy
6.46%
Lease Rate
$12.60 /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%
$864,620
Cap Rate 7%
$617,586
Cap Rate 9%
$480,344
Alternative Uses
Best Use
Multifamily LT 5
$617.6K
$540.4K – $720.5K
NOI $43,231 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$566.4K
$495.6K – $660.8K
NOI $39,646 @ 7.0% cap · market cap 3.98%
Theoretical Best
Healthcare Medical
$902.2K
$789.5K – $1.05M
NOI $63,157 @ 7.0% cap · market cap 6.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Explore this area
Business Placement
Demographics for 78597, TX
2,479
Population
5,895
Households
0.4
Avg Household Size
56
Median Age
53%
College-Educated
92%
High-School Grad
8.8 sq mi
ZIP Area
282
Density / Sq Mi
$61,357
Median Household Income
$36,843
Median Earnings
$1,421
Median Rent
$508,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four condo residences feature tile floors, patios, assigned parking, and in-unit washer and dryer equipment.
Where is this quadplex located?
The property is located at 110 E Retama St. South Padre Island, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 5,240‑square‑foot quadplex with four condo residences; 12 bedrooms and 14 bathrooms across the property; Built in 2014 with refreshed interiors and tile flooring
