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    South Padre Island Four-Plex Title is generated by Realmo AI

    110 Retama St., South Padre Island, TX 78597

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    For Sale
    $995,000

    Four-Plex - South Padre Island, TX

    Property size:
    5,240 SF
    Price / SF:
    $189/SF
    Added:
    Apr 7, 2026
    Days on Market:
    34
    Last Refresh:
    May 10 at 12:06 am

    Property Features for 110 Retama St.

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R
    Bedrooms
    12
    Bathrooms
    14
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking features
    Assigned
    Interior features
    Cabinets-Custom, Ceiling Fan(s), Unfurnished, Washer/Dryer Hook-up, Window Treatment
    Exterior features
    Pool-Outdoor
    Appliances
    Dryer, Microwave, Refrigerator, Washer/Dryer Combo
    Standard status
    Active
    Size
    5,240 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    23073

    Utilities

    Cooling system
    Central Air, Electric

    Building Details

    Year built
    2014
    Floors in Building
    2
    Number of units
    4
    Flooring type
    Tile
    Building materials
    Other, Stucco
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Maggie Bolado

    Listing agent Maggie Bolado

    Listing office Blue Heron Realty & Management, LLC 222 N Expressway Suite 185, Brownsville, TX

    Listing date Apr 7, 2026

    MLS# 104806 Listing URL

    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.

    HighLights

    • Turnkey four‑condo complex ready for immediate rental income.
    • Priced well below market value, offering a rare investment opportunity.
    • Spacious units offer modern comfort and a beach‑vacation vibe.
    • Each unit includes appliances: Dryer, Microwave, Refrigerator, Washer/Dryer Combo.
    • Built in 2014 with stucco construction and composition roof.
    • Exterior features include an outdoor pool.

    Overview

    This four-unit complex on South Padre Island offers a rare investment opportunity. The property is ready for immediate rental income. Each condo provides generous living areas and modern comfort. This property is turnkey and positioned for immediate returns. The property contains 5,240 square feet and is zoned R. The lot size is 0 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Law Firm Building Supply Dental Office Real Estate Agency Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Padre Island
    County
    Cameron
    State
    Texas
    Longitude
    -97.168574
    Latitude
    26.110767

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    FAQs

    What type of property is this?
    Quadplex - Four-unit complex ready for immediate rental income in South Padre.
    Where is this quadplex located?
    The property is located at 110 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: Turnkey four‑condo complex ready for immediate rental income.; Priced well below market value, offering a rare investment opportunity.; Spacious units offer modern comfort and a beach‑vacation vibe.
    (956) 466-8412
    We can help!
    Listing Contact
    Maggie Bolado
    Real Estate License ID: 555293
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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