Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1517 Ocean Dr Corpus Christi, TX 78404

    Sponsored
    For Sale
    $750,000

    MULTI_FAMILY - Corpus Christi, TX

    Property size:
    5,110 SF
    Lot size:
    0.20 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 4 at 4:06 pm

    Property Features for 1517 Ocean Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 5, Bathroom 3, Bedroom 5, Bathroom 7, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 8, Bedroom 9, Bathroom 1, Bathroom 6, Bedroom 4, Bedroom 7, Bathroom 4, Bedroom 10, Bathroom 2, Bedroom 6
    Bedrooms
    10
    Bathrooms
    7
    APN
    047500040030
    Parking features
    Off Street, Carport
    Appliances
    FreeStandingRange, Refrigerator
    Size
    5,110 SF
    Lot size
    0.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Ductless (Heating)
    Cooling system
    Window Unit(s), Ductless
    Water source
    Public

    Building Details

    Year built
    1941
    Floors in Building
    1
    Flooring type
    Vinyl, Hardwood
    Building materials
    Asbestos, Frame
    Roof type
    Flat

    We can help!

    Listing Contact
    Joseph Kessling

    Kessling Services (361) 857-6789

    Listing agent Joseph Kessling (361) 548-9190 License #0216749

    Listing date Mar 4, 2026

    MLS# 472627

    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.

    Learn more

    Property Insight Report

    Overview

    Ocean Drive Multi-Family Investment

    This seven-unit multi-family property is located across from Cole Park, offering views of Corpus Christi Bay and the downtown skyline. The property is within walking distance of Spohn Hospital and various medical and legal offices. The unit mix comprises three 2-bedroom, 1-bathroom units and four 1-bedroom, 1-bathroom units. Situated in downtown Corpus Christi, the property is near Del Mar College and a short drive down Ocean Drive to TAMU-CC and NAS Corpus Christi. Each unit is equipped with appliances, and convenient parking is available. The total current rent from all units is $6500 per month. The property is located on Ocean Drive and occupies a lot of 0.2 acres. The building has a size of 5110 square feet. The property is located in Corpus Christi, Texas, with the postal code 78404. The property is easy to rent and attracts long-term tenants, presenting an opportunity for investors to begin or expand their real estate portfolio. With upgrades, there is potential to increase rents by $100-$200 per unit, potentially raising the total income to $7500-$8500 per month. The Ocean Drive address may become a prime location for future development, such as an expanding hospital or other uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ocean Drive Apartments Apartment Complex Apartments Apartment Building

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.393297
    Latitude
    27.77507

    Nearby Similar for Sale

    • $759,900
      5,184 SF

      Versatile Income-Producing Commercial Property

      Industrial and office property on a prominent corner lot.
      3801 Saturn Rd, Corpus Christi, TX 78413
      View Details
    • New
      $650,000
      856 SF

      Updated Commercial Space For Sale

      Updated commercial property in Corpus Christi, Texas available for purchase.
      3730 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • New
      $839,000
      17,409 SF

      Warehouse and Office Income Property

      Warehouse with two office buildings, generating three income streams.
      2346 Horne Rd, Corpus Christi, TX 78415
      View Details
    • New
      $1,000,000
      7,170 SF

      Prime Commercial Building on Everhart

      7,170 SF commercial building in a high-traffic Corpus Christi location.
      4929 Everhart Rd, Corpus Christi, TX 78411
      View Details
    • $900,000
      6,146 SF

      Renovated Commercial Building, Corpus Christi

      Turnkey, renovated commercial building suitable for daycare, medical, or office use.
      10102 S Padre Island Dr, Corpus Christi, TX 78418
      View Details
    • New
      $185,000
      Pending

      Corpus Christi Mixed-Use Opportunity

      Commercial or residential use property in prime location.
      2856 S Alameda St, Corpus Christi, TX 78404
      View Details
    • $589,000
      2,800 SF

      Waterfront Commercial Property For Sale

      Coastal commercial asset with redevelopment potential in Corpus Christi, TX.
      1101 Laguna Shores Rd, Corpus Christi, TX 78418
      View Details
    • $400,000
      1,734 SF

      Versatile Office Space For Sale

      Well-maintained office building with ample parking and accessibility features.
      4942 Everhart Rd, Corpus Christi, TX 78411
      View Details
    • $210,000
      4,500 SF

      Commercial Building with Office, Warehouse

      4,500 sq ft building on 10,000 sq ft lot.
      2828 Cleo St, Corpus Christi, TX 78405
      View Details
    • $475,000
      1,540 SF

      Corpus Christi Commercial Corner Lot

      Corner lot with office, garage, and storage in Corpus Christi.
      5134 Williams Dr, Corpus Christi, TX 78411
      View Details
    • $499,999
      3,720 SF

      Restaurant/Retail Building on Leopard Street

      3,720 sqft commercial building on a 30,557 sqft lot.
      10136 Leopard St, Corpus Christi, TX 78410
      View Details
    • $450,000
      3,294 SF

      Renovated Office Suite in Corpus

      Completely renovated office suite with flexible layout and ADA compliance.
      700 Everhart Rd, Corpus Christi, TX 78411
      View Details

    FAQs

    What type of property is this?
    Apartment building - Seven-unit property near Cole Park with bay views.
    Where is this apartment building located?
    The property is located at 1517 Ocean Dr Corpus Christi, TX.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - Prime Ocean Drive location directly across from Cole Park with views of Corpus Christi Bay and the downtown skyline.; - Income-generating 7-unit property with current total rent of $6500/month.; - Potential for increased rental income ($7500-$8500/month) with minimal upgrades.
    (361) 548-9190
    Request Owner's contact information
    1517 Ocean Dr Corpus Christi, TX 78404
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1517 Ocean Dr
    Corpus Christi, TX 78404
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    1517 Ocean Dr Corpus Christi, TX 78404
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joseph Kessling
    Real Estate License ID: 0216749
    (361) 548-9190 (361) 857-6789
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!