NNN-Leased Shopping
For Sale
$5,950,000
2494 County Road 33, Corpus Christi, TX 78415
CommercialSale, Corpus Christi, TX
Property Size24,560 SF
Lot Size2.00 Acres
Price / SF$242.26
Days on Market631
Property Features for 2494 County Road 33
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking features
Off Street
Subdivision
Laureles Farm Tracts
Lot features
Subdivided
Standard status
Active
APN
425000004720
Size
24,560 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Description
LAURELES FARM TRACTS 2 ACS OUT OF TR 7 SEC D
Legal Description
LAURELES FARM TRACTS 2 ACS OUT OF TR 7 SEC D
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public, Well
Amenities
turf courtyard with stage
Building Details
Year built
2022
Floors in Building
1
Number of units
10
Listing Agency:
Teifke Real Estate
(512) 870-8184
Listed By:
Giavanna Maddalone · License #0771750
(361) 694-3917
Added: Dec 12, 2024
Changed: Aug 19
Last Checked: Sep 4 at 11:06AM
MLS# 451842
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.
Investment Insights
Based on property information with market context.
This 24,560-square-foot shopping center was built in 2022 with split-face block construction and is fully leased under NNN agreements. The tenant mix includes urgent care, State Farm, a restaurant, coffee shop, pizza restaurant, children’s play zone, med spa, hair salon, church, pet grooming, ice business, and boutique retail. Off-street parking is provided, with electric heating and cooling serving the property.
The 2-acre plaza is positioned at the corner of County Road 33 across from the London School District and along the primary highway serving the area. A turf courtyard with a stage adds an outdoor gathering component for community events. Water service includes both public and well sources.
The 2-acre plaza is positioned at the corner of County Road 33 across from the London School District and along the primary highway serving the area. A turf courtyard with a stage adds an outdoor gathering component for community events. Water service includes both public and well sources.
Key Highlights
- 24,560‑square‑foot shopping center on 2 acres
- Built in 2022 with split‑face block construction
- 100% leased with tenants on NNN leases
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
$283,152
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
4.76%
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%
$5,663,040
$5.7M
Cap Rate 7%
$4,045,029
$4.0M
Cap Rate 9%
$3,146,133
$3.1M
Market Conditions
NOI Build-Up for 24,560 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
$442.1K $18.00/SF
− Vacancy
−$37.6K −$1.53/SF
EGI
$404.5K $16.47/SF
− OpEx
−$121.4K −$4.94/SF
NOI
$283.2K $11.53/SF
Area
ZIP 78415
Vacancy
8.50%
Lease Rate
$18.00 /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%
$5,663,040
Cap Rate 7%
$4,045,029
Cap Rate 9%
$3,146,133
Alternative Uses
Best Use
Retail
$4.05M
$3.54M – $4.72M
NOI $283,152 @ 7.0% cap · market cap 4.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.84M
$5.11M – $6.82M
NOI $409,071 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78415, TX
38,722
Population
15,465
Households
2.5
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
109.2 sq mi
ZIP Area
355
Density / Sq Mi
$53,803
Median Household Income
$31,748
Median Earnings
$1,166
Median Rent
$135,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- London Square Plaza — 1290 FM 43, Corpus Christi, TX 78415
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased retail plaza with a courtyard stage and a diverse mix of service, food, medical, and specialty tenants.
Where is this shopping center located?
The property is located at 2494 County Road 33 Corpus Christi, TX.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 24,560‑square‑foot shopping center on 2 acres; Built in 2022 with split‑face block construction; 100% leased with tenants on NNN leases
