Waterfront RV Site with Full
New
For Sale
$239,000
101 Caribbean Drive, Corpus Christi, TX 78418
Land, Corpus Christi, TX
Property Size1,950 SF
Lot Size0.05 Acres
Price / SF$122.56
Days on Market4
Property Features for 101 Caribbean Drive
General Information
Property type
Land
Property subtype
Other
Pool private
1
Subdivision
Firefly Corpus Christi RV And
Lot features
Landscaped
View
Water
Elementary school
Flour Bluff
Middle school
Flour Bluff
High school
Flour Bluff
Elementary school district
Flour Bluff ISD
Middle school district
Flour Bluff ISD
High school district
Flour Bluff ISD
Standard status
Active
APN
617838
Size
1,950 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Description
FIREFLY CORPUS CHRISTI RV AND TINY HOMES CONDO UNIT 50 & 1/74 ICE
HOA Fee
$505 Annually
Legal Description
FIREFLY CORPUS CHRISTI RV AND TINY HOMES CONDO UNIT 50 & 1/74 ICE
Utilities
Water source
Public
Water front features
Canal Access, Ocean Access
Water front
1
Listing Agency:
RE/MAX ELITE
(361) 777-7653
Listed By:
Michelle Sanchez · License #0740246
(361) 442-4176
Added: Sep 8
Changed: Sep 11
Last Checked: Sep 11 at 6:06PM
MLS# 482365
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.
Unit #50 at Firefly Resort Coastal Bend is a waterfront RV site with canal and ocean access. The site includes full hookups with 20, 30, and 50 amp service, WiFi, a concrete patio, outdoor seating, picnic table, built-in barbecue grill, and additional parking. Public water service is available.
Resort amenities include a private 200-foot fishing pier, boat ramp, boat slips, fish cleaning station, pool, bayside tiki pavilion, clubhouse, game room, dog park, playground, restroom and shower suites, laundry facilities, and an onsite store offering food and beverages. The property is located in Corpus Christi near Mustang Island and Padre Island, with boating, fishing, beaches, dining, shopping, and coastal attractions nearby.
Resort amenities include a private 200-foot fishing pier, boat ramp, boat slips, fish cleaning station, pool, bayside tiki pavilion, clubhouse, game room, dog park, playground, restroom and shower suites, laundry facilities, and an onsite store offering food and beverages. The property is located in Corpus Christi near Mustang Island and Padre Island, with boating, fishing, beaches, dining, shopping, and coastal attractions nearby.
Key Highlights
- Waterfront Unit #50 at Firefly Resort Coastal Bend
- Full hookups with 20, 30, and 50 amp service
- Private 200‑foot fishing pier with canal and ocean access
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
$15,298
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
6.40%
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%
$305,960
$306.0K
Cap Rate 7%
$218,543
$218.5K
Cap Rate 9%
$169,978
$170.0K
Market Conditions
NOI Build-Up for 1,950 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
$31.8K $16.32/SF
− Vacancy
−$4.0K −$2.06/SF
EGI
$27.8K $14.26/SF
− OpEx
−$12.5K −$6.42/SF
NOI
$15.3K $7.85/SF
Area
ZIP 78418
Vacancy
12.60%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
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%
$305,960
Cap Rate 7%
$218,543
Cap Rate 9%
$169,978
Alternative Uses
Best Use
Apartment 5plus
$218.5K
$191.2K – $255.0K
NOI $15,298 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$745.4K
$652.3K – $869.7K
NOI $52,181 @ 7.0% cap · market cap 21.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Waterfront Land - Waterfront recreational site with private outdoor amenities, utility connections, and access to resort boating and leisure facilities.
Where is this waterfront land located?
The property is located at 101 Caribbean Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Waterfront Unit #50 at Firefly Resort Coastal Bend; Full hookups with 20, 30, and 50 amp service; Private 200‑foot fishing pier with canal and ocean access
