Flex Space with Rear
New
For Sale
$595,000
10717 Leopard St, Corpus Christi, TX 78410
The site combines an existing commercial building with additional land and dual street access.
Property Size2,160 SF
Lot Size0.91 Acres
Price / SF$275.46
Days on Market3
Property Features for 10717 Leopard St
General Information
Standard status
Active
Size
2,160 SF
Lot size
0.91 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1975
Buildings
1
Building Size
2,160 SF
Listing Agency:
The Chosen Real Estate Agency
Listed By:
Cathy Cruz · License #0538227
(361) 229-0778
Source:
Thebranchinc
Added: Sep 6
Last Checked: Sep 7 at 11:22AM
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 The Chosen Real Estate Agency
Investment Insights
Based on property information with market context.
This flex-space property includes approximately 2,160 square feet of building area on a combined approximately 0.91-acre site. The improvements occupy a roughly 0.41-acre parcel, with an additional approximately 0.50-acre lot positioned behind it. The property is offered in its current condition, providing an existing structure and land for reconfiguration, expansion, or other commercial planning subject to applicable approvals.
Located at 10717 Leopard St. in Corpus Christi’s Annaville area, the property fronts Leopard Street and also has access from a rear street. The two access points can accommodate different circulation needs, including customer, delivery, equipment, and service-vehicle access. The site is situated along an established commercial corridor with surrounding commercial activity. The building was constructed in 1975.
Located at 10717 Leopard St. in Corpus Christi’s Annaville area, the property fronts Leopard Street and also has access from a rear street. The two access points can accommodate different circulation needs, including customer, delivery, equipment, and service-vehicle access. The site is situated along an established commercial corridor with surrounding commercial activity. The building was constructed in 1975.
Key Highlights
- Approximately 2,160 square feet of existing building area
- Approximately 0.91 acre combined across two parcels
- Approximately 0.41‑acre parcel includes the existing building
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
$22,745
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
3.82%
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%
$454,900
$454.9K
Cap Rate 7%
$324,929
$324.9K
Cap Rate 9%
$252,722
$252.7K
Market Conditions
NOI Build-Up for 2,160 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
$38.9K $18.00/SF
− Vacancy
−$3.9K −$1.80/SF
EGI
$35.0K $16.20/SF
− OpEx
−$12.2K −$5.67/SF
NOI
$22.7K $10.53/SF
Area
Corpus Christi, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$454,900
Cap Rate 7%
$324,929
Cap Rate 9%
$252,722
Alternative Uses
Best Use
Flex RnD
$324.9K
$284.3K – $379.1K
NOI $22,745 @ 7.0% cap · market cap 3.82%
Second Best
Industrial
$161.5K
$141.3K – $188.4K
NOI $11,306 @ 7.0% cap · market cap 1.90%
Theoretical Best
Office A
$514.0K
$449.7K – $599.6K
NOI $35,977 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78410, TX
29,545
Population
10,798
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
90%
High-School Grad
22.5 sq mi
ZIP Area
1,313
Density / Sq Mi
$77,642
Median Household Income
$45,386
Median Earnings
$1,158
Median Rent
$220,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - The site combines an existing commercial building with additional land and dual street access.
Where is this flex space located?
The property is located at 10717 Leopard St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Approximately 2,160 square feet of existing building area; Approximately 0.91 acre combined across two parcels; Approximately 0.41‑acre parcel includes the existing building
