Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Residential Lot on South Padre Title is generated by Realmo AI

    216 W Oleander Street, South Padre Island, TX 78597

    View on Map
    Claim this Listing
    For Sale
    $259,000

    LAND - South Padre Island, TX

    Lot size:
    0.14 Acres
    Added:
    Feb 16, 2026
    Days on Market:
    103
    Last Refresh:
    May 30 at 6:06 am

    Property Features for 216 W Oleander Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R
    Standard status
    Active
    APN
    6764001100026000
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    3225

    Utilities

    Water front
    1

    We can help!

    Listing Contact
    Norma Turkington

    Listing agent Norma Turkington

    Listing office RE/MAX elite 2575 E Griffin Parkway, Suite 14 Suite 14, Mission, TX

    Listing date Feb 16, 2026

    MLS# 465360 Listing URL

    Copyright © 2026 Greater McAllen Association 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

    • Centrally located residential lot on South Padre Island's bay side.
    • Includes a concrete block retaining wall valued at $25K.
    • Easy access to both the bay and the beach.
    • Quiet street in the heart of the island.
    • Close to dining, shopping, and entertainment.
    • Opportunity to build a private retreat or vacation getaway.

    Overview

    This residential lot is located on South Padre Island. Situated on a quiet street in the heart of the island, this interior lot offers access to both the bay and the beach. It includes a concrete block retaining wall. The lot is located near dining, shopping, and entertainment. The lot size is 0.1435 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Spa & Massage Center Dental Office Restaurant Hair Salon Nail Salon Building Supply Auto Repair Shop Real Estate Agency 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
    -97.172014
    Latitude
    26.113974

    Nearby Similar for Sale

    • $1,200,000
      1,867 SF

      Coastal Commercial Property on Padre Blvd

      Iconic commercial property ideal for retail, rentals, or recreation.
      5717 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $1,200,000
      1,867 SF

      South Padre Island Commercial Property

      Iconic coastal commercial property in a high-traffic beachside area.
      5719 Padre Boulevard, South Padre Island, TX 78597
      View Details
    • $1,100,000
      2,776 SF

      Modern Duplex Near South Padre Beach

      Stunning duplex near the beach, ideal for living or rental.
      110 E Ling Street, South Padre Island, TX 78597
      View Details
    • $795,000
      3,503 SF

      South Padre Island Triplex

      Two-story triplex near beach, bay, and entertainment district.
      201 W Hibiscus St., South Padre Island, TX 78597
      View Details
    • $1,100,000
      3,350 SF

      Income Property Near South Padre Beach

      Income-producing multifamily property near the beach on South Padre Island.
      110 E Pike St., South Padre Island, TX 78597
      View Details
    • $1,880,000
      3,886 SF

      South Padre Island Multifamily Investment

      Rare investment opportunity on South Padre Island with commercial zoning.
      5712 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $1,899,900
      3,534 SF

      Ocean Side Duplex Investment Property

      South Padre Island duplex with income potential and beach access.
      102 E Whiting St., South Padre Island, TX 78597
      View Details
    • $1,540,000
      3,797 SF

      Modern Duplex Near South Beach

      South Padre Island duplex near beach, shops, and restaurants.
      116A & 116B E Dolphin Street, South Padre Island, TX 78597
      View Details
    • $2,690,000
      6,820 SF

      South Padre Island Multi-Family Building

      Two townhomes, each with 6 bedrooms, ideal for rentals.
      128 E Saturn Lane, South Padre Island, TX 78597
      View Details
    • $777,000
      3,225 SF

      South Padre Island Commercial Property

      Versatile commercial building on Padre Blvd in South Padre Island.
      3812 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $985,000
      3,883 SF

      South Padre Island Tri-Plex

      Tri-plex near the beach with pool and ocean views.
      125 E Huisache St., South Padre Island, TX 78597
      View Details
    • $645,000
      2,625 SF

      South Padre Island Duplex

      Duplex near the beach with potential for rental income.
      129 E Gardenia Street, South Padre Island, TX 78597
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot on South Padre Island near bay and beach.
    Where is this residential land & home lot located?
    The property is located at 216 W Oleander Street South Padre Island, TX.
    What is the asking price?
    The asking price for this property is $259,000.
    What are key features of this property?
    This property features: Centrally located residential lot on South Padre Island's bay side.; Includes a concrete block retaining wall valued at $25K.; Easy access to both the bay and the beach.
    (956) 459-3898
    We can help!
    Listing Contact
    Norma Turkington
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    216 W Oleander Street, South Padre Island, TX 78597
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!