High-Visibility Retail
For Sale
$440,900
10306 Padre Island Drive, Corpus Christi, TX 78418
Retail building with large display windows and mural-style exterior features, positioned for strong visibility off SPID.
Property Size1,610 SF
Price / SF$273.85
Days on Market45
Property Features for 10306 Padre Island Drive
General Information
Standard status
Active
Size
1,610 SF
Property subtype
Industrial
Amenities
Central Air, Electric
Asphalt.
Other
Other.
Building Details
Year Built
1972
Stories
1
Listing Agency:
ValTex Realty
(361) 537-9577
Listed By:
David Oliveira · License #0448849
(361) 537-9577
Source:
Xome
Added: Jun 29
Changed: Aug 12
Last Checked: Aug 12 at 4:06AM
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 ValTex Realty
Investment Insights
Based on property information with market context.
This high-visibility retail storefront building is located at 10306 S Padre Island Drive in Corpus Christi, TX 78418. The property is designed with a coastal character and features mural-style exterior elements, large display windows, and signage potential along the frontage to support retail presentation.
The building’s placement “just off” South Padre Island Drive (SPID) is intended to capture visibility from a high-traffic area, with convenient access for customers traveling toward North Padre Island, Mustang Island, and Corpus Christi. The listing also notes proximity to beaches, marinas, and NAS Corpus Christi.
Offered for sale, the building is described as flexible for a range of storefront and service concepts, including retail, office, restaurant, surf shop, or other service uses, based on the property’s storefront configuration and prominent curb presence.
The building’s placement “just off” South Padre Island Drive (SPID) is intended to capture visibility from a high-traffic area, with convenient access for customers traveling toward North Padre Island, Mustang Island, and Corpus Christi. The listing also notes proximity to beaches, marinas, and NAS Corpus Christi.
Offered for sale, the building is described as flexible for a range of storefront and service concepts, including retail, office, restaurant, surf shop, or other service uses, based on the property’s storefront configuration and prominent curb presence.
Key Highlights
- Retail/commercial building off SPID in Flour Bluff with large display windows
- Coastal‑style exterior with mural‑style features for curb appeal
- Central air with electric cooling
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
$18,562
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
4.21%
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%
$371,240
$371.2K
Cap Rate 7%
$265,171
$265.2K
Cap Rate 9%
$206,244
$206.2K
Market Conditions
NOI Build-Up for 1,610 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
$29.0K $18.00/SF
− Vacancy
−$2.5K −$1.53/SF
EGI
$26.5K $16.47/SF
− OpEx
−$8.0K −$4.94/SF
NOI
$18.6K $11.53/SF
Area
ZIP 78418
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%
$371,240
Cap Rate 7%
$265,171
Cap Rate 9%
$206,244
Alternative Uses
Best Use
Retail
$265.2K
$232.0K – $309.4K
NOI $18,562 @ 7.0% cap · market cap 4.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$615.5K
$538.5K – $718.0K
NOI $43,082 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Retail 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?
Storefront property - Retail building with large display windows and mural-style exterior features, positioned for strong visibility off SPID.
Where is this storefront property located?
The property is located at 10306 Padre Island Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $440,900.
What are key features of this property?
This property features: Retail/commercial building off SPID in Flour Bluff with large display windows; Coastal‑style exterior with mural‑style features for curb appeal; Central air with electric cooling
