Restaurant Building with Parking
For Sale
$395,000
1124 Ayers St, Corpus Christi, TX 78404
Restaurant property includes two adjacent lots that provide parking across the street.
Property Size2,583 SF
Price / SF$152.92
Days on Market106
Property Features for 1124 Ayers St
General Information
Standard status
Active
Size
2,583 SF
Building Details
Buildings
1
Listing Agency:
CORE Coastal Realty
(361) 947-5150
Listed By:
Al Perez · License #0411634
(361) 947-5150
Source:
Exprealty
Added: May 11
Changed: Aug 21
Last Checked: Aug 23 at 5:40AM
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 CORE Coastal Realty
Investment Insights
Based on property information with market context.
This 2,583-square-foot former café building is offered for sale as a restaurant-oriented commercial property. The space is presented for potential restaurant, café, bar, retail, or office use, allowing the next owner to establish a new operating concept.
Two adjacent lots are included with the property and provide parking across the street. The asset is located at 1124 Ayers St in Corpus Christi, near 6 Point St and downtown.
Two adjacent lots are included with the property and provide parking across the street. The asset is located at 1124 Ayers St in Corpus Christi, near 6 Point St and downtown.
Key Highlights
- 2,583‑square‑foot former café building
- Two adjacent lots included with the sale
- Parking available across the street
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
$33,476
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
8.47%
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%
$669,520
$669.5K
Cap Rate 7%
$478,229
$478.2K
Cap Rate 9%
$371,956
$372.0K
Market Conditions
NOI Build-Up for 2,583 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
$46.5K $18.00/SF
− Vacancy
−$1.9K −$0.72/SF
EGI
$44.6K $17.28/SF
− OpEx
−$11.2K −$4.32/SF
NOI
$33.5K $12.96/SF
Area
Corpus Christi, TX
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$669,520
Cap Rate 7%
$478,229
Cap Rate 9%
$371,956
Alternative Uses
Best Use
Specialty Retail
$478.2K
$418.5K – $557.9K
NOI $33,476 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$614.6K
$537.8K – $717.0K
NOI $43,022 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,386
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78404, TX
15,339
Population
6,884
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
4,793
Density / Sq Mi
$60,264
Median Household Income
$45,864
Median Earnings
$1,172
Median Rent
$180,500
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?
Conventional restaurant - Restaurant property includes two adjacent lots that provide parking across the street.
Where is this conventional restaurant located?
The property is located at 1124 Ayers St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,583‑square‑foot former café building; Two adjacent lots included with the sale; Parking available across the street
