Bar Property with Outdoor
For Sale
$1,295,000
118 Cut Off Road, Port Aransas, TX 78373
CommercialSale, Port Aransas, TX
Property Size3,100 SF
Lot Size0.35 Acres
Price / SF$417.74
Days on Market178
Property Features for 118 Cut Off Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Zoning description
C-2
Subdivision
Mustang Island
Lot features
Zero Lot Line
View
Water
Standard status
Active
APN
548801420053
Size
3,100 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Description
MUSTANG ISLAND BLK 142 LOT 5-B
Legal Description
MUSTANG ISLAND BLK 142 LOT 5-B
Utilities
Cooling system
Central Air
Building Details
Year built
2001
Floors in Building
2
Building materials
AluminumSiding
Listing Agency:
Tarpon Realty
Listed By:
Ryan Richter · License #0635792
(361) 815-6784
Added: Apr 3
Changed: Sep 15
Last Checked: Sep 27 at 12:06AM
MLS# 474211
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 118 Cut Off Road in Port Aransas, this 3,100-square-foot bar property occupies 0.3522 acres and was built in 2001. The two-level building includes multiple bar areas, customer restrooms on both floors, staff workspace, office space, and a private apartment with a full bath. Central air conditioning serves the building, and the property has aluminum siding.
The site is positioned on a main thoroughfare near city department buildings, the Civic Center, and the ferry landing. The second level provides ship channel views and includes an outdoor bar area. C-2 zoning, parking for over 22 vehicles, and additional outdoor area are also part of the property.
The site is positioned on a main thoroughfare near city department buildings, the Civic Center, and the ferry landing. The second level provides ship channel views and includes an outdoor bar area. C-2 zoning, parking for over 22 vehicles, and additional outdoor area are also part of the property.
Key Highlights
- 3,100‑square‑foot building on 0.3522 acres
- C‑2 zoning in Port Aransas
- Multiple bar areas, including an outdoor bar upstairs
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
$54,724
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
4.23%
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%
$1,094,480
$1.1M
Cap Rate 7%
$781,771
$781.8K
Cap Rate 9%
$608,044
$608.0K
Market Conditions
NOI Build-Up for 3,100 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
$77.4K $24.96/SF
− Vacancy
−$4.4K −$1.42/SF
EGI
$73.0K $23.54/SF
− OpEx
−$18.2K −$5.88/SF
NOI
$54.7K $17.65/SF
Area
Nueces County, TX
Vacancy
5.70%
Lease Rate
$24.96 /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%
$1,094,480
Cap Rate 7%
$781,771
Cap Rate 9%
$608,044
Alternative Uses
Best Use
Specialty Retail
$781.8K
$684.1K – $912.1K
NOI $54,724 @ 7.0% cap · market cap 4.23%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.21M
$2.81M – $3.74M
NOI $224,515 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
21k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 85%
Shops & Services 12%
Hotels & Casinos 3%
Family Center IGA Food Store
Groceries
18,059 visits/mo
0.5 miles
7-Eleven
Shops & Services
2,452 visits/mo
0.2 miles
Americas Best Value Inn
Hotels & Casinos
632 visits/mo
0.5 miles
Demographics for 78373, TX
3,134
Population
5,614
Households
0.6
Avg Household Size
56
Median Age
38%
College-Educated
95%
High-School Grad
18.8 sq mi
ZIP Area
167
Density / Sq Mi
$90,000
Median Household Income
$52,353
Median Earnings
$2,226
Median Rent
$518,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-level bar property with multiple service areas, restrooms, office space, and a private apartment.
Where is this bar & pub located?
The property is located at 118 Cut Off Road Port Aransas, TX.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 3,100‑square‑foot building on 0.3522 acres; C‑2 zoning in Port Aransas; Multiple bar areas, including an outdoor bar upstairs
