Multi-Building Entertainment Retail
For Sale
Contact for pricing
Pending
102 Bishop Rd., Rockport, TX 78382
Three separate buildings offer flexible uses for entertainment, retail, or a water vending kiosk.
Property Size6,302 SF
Days on Market71
Property Features for 102 Bishop Rd.
General Information
Standard status
Pending
Size
6,302 SF
Property subtype
Special Purpose
Additional Details
Business Included
Yes
Building Details
Year Built
2005
Year Renovated
2023
Buildings
3
Tenancy
Multi
Listing Agency:
Real Broker, LLC
(254) 833-3379
Listed By:
Oraya Fernandez · License #TX 718576
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Aug 8 at 7:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker, LLC
Investment Insights
Based on property information with market context.
This offering includes three separate commercial buildings designed for flexible use. The large building is a brand new metal structure outfitted for a golf simulation lounge and a multi-age entertainment center. The medium building is currently an active mixed-use space with entertainment and retail operations in place. The small building is a water vending kiosk with a commercial water dispenser system, ready to operate for additional income.
The property is located in a coastal setting with water views across the street. The site can be operated as a unified entertainment destination or configured as individual leased spaces.
For buyers or operators, the layout supports two practical approaches: use the entire site as a single entertainment complex to bring multiple concepts under one roof, or lease the buildings individually to create a collaborative merchant environment with shared traffic. With entertainment-focused space already set up in the large building and operating components in the medium and small buildings, this property is suited for an owner-operator or a tenant group looking to coordinate compatible uses across multiple structures at the same site. Owner operating.
The property is located in a coastal setting with water views across the street. The site can be operated as a unified entertainment destination or configured as individual leased spaces.
For buyers or operators, the layout supports two practical approaches: use the entire site as a single entertainment complex to bring multiple concepts under one roof, or lease the buildings individually to create a collaborative merchant environment with shared traffic. With entertainment-focused space already set up in the large building and operating components in the medium and small buildings, this property is suited for an owner-operator or a tenant group looking to coordinate compatible uses across multiple structures at the same site. Owner operating.
Key Highlights
- Three separate commercial buildings with flexible use options for entertainment, retail, or a water vending kiosk (3 structures on one site).
- Large building (built 2005) is a brand new metal structure outfitted for a golf simulation lounge and multi‑age entertainment center.
- Medium building has active mixed‑use space with entertainment and retail operations already in place.
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
$72,656
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
7.27%
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%
$1,453,120
$1.5M
Cap Rate 7%
$1,037,943
$1.0M
Cap Rate 9%
$807,289
$807.3K
Market Conditions
NOI Build-Up for 6,302 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
$113.4K $18.00/SF
− Vacancy
−$9.6K −$1.53/SF
EGI
$103.8K $16.47/SF
− OpEx
−$31.1K −$4.94/SF
NOI
$72.7K $11.53/SF
Area
Aransas County, TX
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%
$1,453,120
Cap Rate 7%
$1,037,943
Cap Rate 9%
$807,289
Alternative Uses
Best Use
Retail
$1.04M
$908.2K – $1.21M
NOI $72,656 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,637 @ 7.0% cap · market cap 16.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Golf course & driving range - Three separate buildings offer flexible uses for entertainment, retail, or a water vending kiosk.
Where is this golf course & driving range located?
The property is located at 102 Bishop Rd. Rockport, TX.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three separate commercial buildings with flexible use options for entertainment, retail, or a water vending kiosk (3 structures on one site).; Large building (built 2005) is a brand new metal structure outfitted for a golf simulation lounge and multi‑age entertainment center.; Medium building has active mixed‑use space with entertainment and retail operations already in place.
