Insulated Metal Shop with Roll-Up
For Sale
$360,000
2324 Monkey Road, Rockport, TX 78382
COMMERCIAL - ROCKPORT, TX
Property Size3,340 SF
Lot Size0.50 Acres
Price / SF$107.78
Days on Market532
Property Features for 2324 Monkey Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
County
Subdivision
Swickheimer
Elementary school district
RFISD
Middle school district
RFISD
High school district
RFISD
Standard status
Active
Size
3,340 SF
Lot size
0.50 Acres
Building Details
Year built
2007
Floors in Building
1
Number of units
1
Listing Agency:
LUCE PROPERTIES
(361) 729-9161
Listed By:
Courtney Wells
(361) 230-9007
Added: Feb 26, 2025
Changed: Aug 4
Last Checked: Aug 12 at 8:06AM
MLS# 147448
Copyright © 2026 Rockport Area 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.
Investment Insights
Based on property information with market context.
This property consists of two unrestricted lots in the county, including a 40x80 ft insulated metal shop with nine large roll-up doors. The shop is equipped with an air compressor, an electric water heater, and washer and dryer hookups, along with a full bathroom.
An attached side building measuring 10x60 ft includes central HVAC and offers potential office space. The property also includes a private conventional septic system and two water wells.
Access is provided from Monkey Rd and San Antonio St, and the lots include shaded outdoor space that can support additional uses on-site.
An attached side building measuring 10x60 ft includes central HVAC and offers potential office space. The property also includes a private conventional septic system and two water wells.
Access is provided from Monkey Rd and San Antonio St, and the lots include shaded outdoor space that can support additional uses on-site.
Key Highlights
- Large 40x80 ft insulated metal shop featuring 9 roll‑up doors, air compressor, electric water heater, washer/dryer hookups, and full bathroom.
- Unrestricted 1/2 acre lot with dual access from two streets.
- Attached 10x60 ft side building with central HVAC, suitable for office space or conversion.
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
$31,158
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
8.66%
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%
$623,160
$623.2K
Cap Rate 7%
$445,114
$445.1K
Cap Rate 9%
$346,200
$346.2K
Market Conditions
NOI Build-Up for 3,340 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
$52.1K $15.60/SF
− Vacancy
−$4.2K −$1.25/SF
EGI
$47.9K $14.35/SF
− OpEx
−$16.8K −$5.02/SF
NOI
$31.2K $9.33/SF
Area
Aransas County, TX
Vacancy
8.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$623,160
Cap Rate 7%
$445,114
Cap Rate 9%
$346,200
Alternative Uses
Best Use
Flex RnD
$445.1K
$389.5K – $519.3K
NOI $31,158 @ 7.0% cap · market cap 8.66%
Second Best
Industrial
$316.8K
$277.2K – $369.6K
NOI $22,178 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,376 @ 7.0% cap · market cap 24.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - 40x80 insulated metal shop features nine large roll-up doors and utilities, plus an attached side building with central HVAC.
Where is this flex space located?
The property is located at 2324 Monkey Road Rockport, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Large 40x80 ft insulated metal shop featuring 9 roll‑up doors, air compressor, electric water heater, washer/dryer hookups, and full bathroom.; Unrestricted 1/2 acre lot with dual access from two streets.; Attached 10x60 ft side building with central HVAC, suitable for office space or conversion.
