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    Cocktail Lounge with Second-Floor Living Title is generated by Realmo AI

    118 Cut Off Rd, Port Aransas, TX 78373

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    For Sale
    $1,395,000

    Multi-level bar, office, and apartment setup with outdoor bar space and parking for 22+ vehicles.

    Property size:
    3,100 SF
    Price / SF:
    $450/SF
    Added:
    Apr 3, 2026
    Days on Market:
    65
    Last Refresh:
    Jun 6 at 3:47 am

    Property Features for 118 Cut Off Rd

    General Information

    Standard status
    Active
    Size
    3,100 SF

    We can help!

    Listing Contact
    Ryan Richter

    Listing agent Ryan Richter License #0635792

    Listing office Tarpon Realty

    Listing date Apr 3, 2026

    Source Exprealty

    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 Tarpon Realty

    HighLights

    • Over 15,000 SF lot at 118 Cut Off Rd in Port Aransas with a metal building
    • Multi‑level bar setup: first‑floor main bar seats 15+ patrons and includes 2 restrooms
    • Second bar area seats 8+ and includes workspace for staff plus utilities needed for a full kitchen
    • Upstairs features SHIP CHANNEL VIEWS, a third outdoor bar, second set of customer bathrooms, office space, and a private apartment with a full bath
    • Parking for 22+ vehicles plus outdoor area to expand

    Overview

    This property is currently configured as a cocktail lounge with multiple guest and staff areas. The first floor features a main bar with seating for more than 15 patrons, a second bar with seating for 8+, two well-appointed restrooms, and a back-of-house work area supported by utilities for a full kitchen. An additional outdoor bar provides a shaded space for guests.

    The building sits on a large lot and is positioned on a main thoroughfare in Port Aransas, near city department buildings, the Civic Center, and the ferry landing at the entry to town. Parking accommodates more than 22 vehicles, and the outdoor area offers room to expand. A metal building on-site provides an open-slate option for a future business concept.

    With both customer-facing space and functional support areas, this setup can fit a hospitality operator looking for an existing bar configuration, or a buyer planning to repurpose portions of the facility. The second floor includes office space and a private apartment with a full bath, which may appeal to owner-operators or tenants seeking on-site living. Nearby amenities and the ferry-area access can support businesses that benefit from regular town traffic.
    Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Blue Water Cowboy Saloon & Mercantile — 229 Beach St, Port Aransas, TX 78373
    • Tropical Sno of Port Aransas — 501 S Alister St, Port Aransas, TX 78373
    • Texas Red's Riviera — 315 S Alister St, Port Aransas, TX 78373
    • Shorty's Place — 101 Beach St, Port Aransas, TX 78373
    • Salty Dog Saloon — 203 N Alister St, Port Aransas, TX 78373

    Location Insight

    • Map
    • Local Demand
    City
    Port Aransas
    County
    Nueces
    State
    Texas
    Longitude
    -97.069743
    Latitude
    27.83633

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    FAQs

    What type of property is this?
    Bar & Pub - Multi-level bar, office, and apartment setup with outdoor bar space and parking for 22+ vehicles.
    Where is this bar & pub located?
    The property is located at 118 Cut Off Rd Port Aransas, TX.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: Over 15,000 SF lot at 118 Cut Off Rd in Port Aransas with a metal building; Multi‑level bar setup: first‑floor main bar seats 15+ patrons and includes 2 restrooms; Second bar area seats 8+ and includes workspace for staff plus utilities needed for a full kitchen
    (361) 815-6784
    We can help!
    Listing Contact
    Ryan Richter
    Real Estate License ID: 0635792
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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