Port Aransas Commercial
For Sale
Contact for pricing
121 Cut-Off Rd, Port Aransas, TX 78373
Commercial property with office space, spa, suites, and pool.
Property Size6,169 SF
Lot Size0.67 Acres
Price / SF$356.62
Days on Market776
Property Features for 121 Cut-Off Rd
General Information
Standard status
Active
Size
6,169 SF
Total Parking Spaces
21
Lot size
0.67 Acres
Property subtype
Office
Zoning
Commercial
Investment Type
Owner/User
Building Details
Year Built
1960
Year Renovated
2011
Buildings
3
Stories
2
Units
6
Listing Agency:
RE/Max Coastal Living
Listed By:
Marcus Starkey · License #436531
(361) 815-2300
Source:
Crexi
Added: Jul 21, 2024
Changed: Sep 3
Last Checked: Sep 2 at 8:09PM
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 RE/Max Coastal Living
Investment Insights
Based on property information with market context.
Located on Cutoff Road in Port Aransas, this commercial property, known as "The Balinese," features a main building of approximately 4489 square feet, along with four modern rental suites and a saltwater swimming pool. The main building currently includes 2232 square feet of office space, fully leased by Stewart Title, and a 1637-square-foot wellness spa and boutique area. An on-site laundry facility is also available. Additionally, there is a 620-square-foot one-bedroom apartment with a fenced yard at the north end of the building. The property includes impact windows throughout, and the roof was replaced in December 2017. The property is in an X flood zone with an elevation over 13 feet. The main building also features a 750-square-foot rooftop covered deck with views of the ship channel. Built in 2019, the four modern studio suites are located in the back, along with an 11 x 30 pool and two additional storage rooms. The suites are currently used as vacation rentals. Constructed with Hardi board, the property sits on a 0.665-acre lot, equivalent to 28,974 square feet. The property is ideally suited for offices, retail, or a medical facility. A recently rebuilt and refurbished lighted sign is present. The property is located in a high-traffic area on Cutoff Road.
Key Highlights
- Desirable location on high‑traffic Cutoff Road in Port Aransas.
- Main building with leased office space (2232 sq. ft.) providing immediate income from Anchor Tenant Stewart Title.
- Four modern studio suites (built in 2019) currently operating as vacation rentals with an 11 x 30 salt water pool.**
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
$103,189
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
4.69%
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%
$2,063,780
$2.1M
Cap Rate 7%
$1,474,129
$1.5M
Cap Rate 9%
$1,146,544
$1.1M
Market Conditions
NOI Build-Up for 6,169 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
$189.5K $30.72/SF
− Vacancy
−$51.9K −$8.42/SF
EGI
$137.6K $22.30/SF
− OpEx
−$34.4K −$5.58/SF
NOI
$103.2K $16.73/SF
Area
Nueces County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$2,063,780
Cap Rate 7%
$1,474,129
Cap Rate 9%
$1,146,544
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.72M
NOI $103,189 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.38M
$5.58M – $7.45M
NOI $446,784 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial property with office space, spa, suites, and pool.
Where is this office units located?
The property is located at 121 Cut-Off Rd Port Aransas, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Desirable location on high‑traffic Cutoff Road in Port Aransas.; Main building with leased office space (2232 sq. ft.) providing immediate income from Anchor Tenant Stewart Title.; Four modern studio suites (built in 2019) currently operating as vacation rentals with an 11 x 30 salt water pool.**
