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

    389 Marina Dr, Unit 12 Port Aransas, TX 78373

    Sponsored
    For Sale
    $650,000

    LAND - Port Aransas, TX

    Lot size:
    0.17 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 3 at 10:06 pm

    Property Features for 389 Marina Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    372800020120
    Lot size
    0.17 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public
    Water front features
    Canal Access
    Water front
    1

    We can help!

    Listing Contact
    Nelida Spurrell
    Nelida Spurrell

    Spears & Company Real Estate

    Listing agent Nelida Spurrell (214) 597-8751 License #0565588

    Listing date Mar 3, 2026

    MLS# 471638 Listing URL

    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

    Waterfront Homesite in Port Aransas

    This spacious homesite is located in the Island Moorings canal community of Port Aransas. The property offers approximately 62 feet of canal frontage and includes electric and water infrastructure, plus a private boat dock and lift. It provides water access to Island Moorings Marina, Piper Channel, the flats, the ship channel, and the Gulf of Mexico. The property is located adjacent to the marina and minutes from the local airport. By land, golf carts may cross Hwy. 361 at Access Road 1-A, providing access to the beach, local shops, restaurants, and Port Aransas entertainment. The lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Properties

    Suggested Use

    Restaurant Real Estate Agency Building Supply Auto Repair Shop Bar & Pub Cafe & Coffee Shop Grocery & Convenience Store Electrical Service (Bike/Boat/Book/etc) Store Wine and Liquor Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Aransas
    County
    Nueces
    State
    Texas
    Longitude
    -97.089371
    Latitude
    27.806374

    Nearby Similar for Sale

    • $4,500,000
      3,252 SF

      Established Bar in Port Aransas

      Profitable bar business and real estate for sale.
      203 N Alister St, Port Aransas, TX 78373
      View Details
    • $924,000
      2,688 SF

      Port Aransas Four-Plex Investment

      Four-unit complex in Port Aransas, suitable for long or short-term rentals.
      419 6Th St, Port Aransas, TX 78373
      View Details
    • $2,400,000
      6,169 SF

      Port Aransas Mixed-Use Commercial Property

      Mixed-use commercial property with office space, suites, and pool.
      121 Cut Off Rd, Port Aransas, TX 78373
      View Details
    • $957,000
      3,578 SF

      Port Aransas Fourplex Investment Opportunity

      Well-kept fourplex near the beach in desirable Port Aransas.
      701 La Juana Ct, Port Aransas, TX 78373
      View Details
    • $2,200,000
      4,623 SF

      Vacation Cottages Near Beach

      Thriving vacation cottages business with investment opportunity near the beach.
      1607 S 11Th St, Port Aransas, TX 78373
      View Details
    • $469,000

      Waterfront Homesite in Gulf Waters Resort

      Rare waterfront homesite in prestigious Gulf Waters Beachfront RV Resort.
      5601 State Highway 361, Port Aransas, TX 78373
      View Details
    • $469,000
      0.11 Acres

      Waterfront Homesite in Gulf Waters Resort

      Rare waterfront homesite in prestigious Gulf Waters Beachfront RV Resort.
      5601 State Highway 361, Port Aransas, TX 78373
      View Details
    • $957,000
      3,575 SF

      Port Aransas Fourplex Investment Opportunity

      Fourplex in desirable Port Aransas neighborhood, near beach and amenities.
      701 La Juana Ct, Port Aransas, TX 78373
      View Details
    • $199,000
      0.05 Acres

      Port Aransas RV Resort Land

      RV resort lot with palapa and outdoor kitchen.
      1100 Port St, Port Aransas, TX 78373
      View Details
    • $305,000
      6.13 Acres

      Port Aransas RV Resort Land

      Boutique coastal RV community with premium amenities near the beach.
      770 Sandcastle Dr, Port Aransas, TX 78373
      View Details
    • $239,000
      0.04 Acres

      Port Aransas RV Resort Land

      RV resort property with community amenities and outdoor kitchen.
      1100 Port St, Port Aransas, TX 78373
      View Details
    • $305,000
      Pending

      Port Aransas RV Resort Land

      Boutique coastal RV community steps from Mustang Island beach.
      770 Sandcastle Dr, Port Aransas, TX 78373
      View Details

    FAQs

    What type of property is this?
    Waterfront Property - Spacious waterfront homesite with private boat dock and lift.
    Where is this waterfront property located?
    The property is located at 389 Marina Dr, Unit 12 Port Aransas, TX.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Direct canal frontage (approx. 62 feet) with private boat dock and lift.; - Premier waterfront location in Island Moorings, Port Aransas.; - Easy water access to the Gulf of Mexico, Island Moorings Marina, and other key waterways.
    (214) 597-8751
    Request Owner's contact information
    389 Marina Dr, Unit 12 Port Aransas, TX 78373
    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.
    389 Marina Dr, Unit 12
    Port Aransas, TX 78373
    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
    389 Marina Dr, Unit 12 Port Aransas, TX 78373
    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
    Nelida Spurrell
    Nelida Spurrell
    Real Estate License ID: 0565588
    (214) 597-8751 (361) 727-5478 (361) 790-7653
    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!