8-Unit Apartment Property with
For Sale
$1,200,000
10901 Annaville, Corpus Christi, TX 78410
Fully leased community with separately metered utilities, detached residences, fenced yards, and individual garages.
Property Size8,575 SF
Lot Size1.48 Acres
Price / SF$139.94
Days on Market10
Property Features for 10901 Annaville
General Information
Standard status
Active
Size
8,575 SF
Lot size
1.48 Acres
Property subtype
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
8
Building Details
Year Built
1967
Listing Agency:
BEK Real Estate Advisors, LLC
Listed By:
Brandon Kneupper · License #0551685
(210) 913-3044
Source:
Sarahildebrandaguilera
Added: Aug 24
Changed: Aug 28
Last Checked: Sep 1 at 10:52PM
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 BEK Real Estate Advisors, LLC
Investment Insights
Based on property information with market context.
This 8-unit apartment property comprises approximately 8,575 square feet on approximately 1.48 acres. The detached, single-family-style residences each include a fenced yard and garage, while utilities are individually metered. The property was built in 1967 and is fully leased.
Six units have been renovated within the last four years, with updates to HVAC systems, electrical work, plumbing, and interior finishes. The property is located approximately 13 miles from Downtown Corpus Christi and offers access to I-37.
Six units have been renovated within the last four years, with updates to HVAC systems, electrical work, plumbing, and interior finishes. The property is located approximately 13 miles from Downtown Corpus Christi and offers access to I-37.
Key Highlights
- 8‑unit multifamily property totaling approximately 8,575 SF on approximately 1.48 acres
- Fully leased with individually metered utilities
- Eight detached single‑family‑style units, each with a fenced yard and garage
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
$80,132
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
6.68%
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%
$1,602,640
$1.6M
Cap Rate 7%
$1,144,743
$1.1M
Cap Rate 9%
$890,356
$890.4K
Market Conditions
NOI Build-Up for 8,575 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
$166.7K $19.44/SF
− Vacancy
−$21.0K −$2.45/SF
EGI
$145.7K $16.99/SF
− OpEx
−$65.6K −$7.65/SF
NOI
$80.1K $9.34/SF
Area
Corpus Christi, TX
Vacancy
12.60%
Lease Rate
$19.44 /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%
$1,602,640
Cap Rate 7%
$1,144,743
Cap Rate 9%
$890,356
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$1.00M – $1.34M
NOI $80,132 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,825 @ 7.0% cap · market cap 11.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased community with separately metered utilities, detached residences, fenced yards, and individual garages.
Where is this apartment building located?
The property is located at 10901 Annaville Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8‑unit multifamily property totaling approximately 8,575 SF on approximately 1.48 acres; Fully leased with individually metered utilities; Eight detached single‑family‑style units, each with a fenced yard and garage
