Medical Office
For Sale
Contact for pricing
1215 Santa Fe Street, Corpus Christi, TX 78404
Configured for healthcare and professional office operations with access to major thoroughfares.
Property Size9,244 SF
Price / SF$270.45
Days on Market62
Property Features for 1215 Santa Fe Street
General Information
Standard status
Active
Size
9,244 SF
Class
B
Property subtype
Office
Zoning
ON
Occupancy
100%
Building Details
Year Built
2010
Year Renovated
2013
Buildings
1
Units
1
Listing Agency:
KW Commercial - New Braunfels
Listed By:
Tom Verducci · License #537279
Source:
Crexi
Added: Jul 2
Changed: Aug 30
Last Checked: Aug 31 at 9:01PM
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 KW Commercial - New Braunfels
Investment Insights
Based on property information with market context.
Located at 1215 Santa Fe Street in Corpus Christi, Texas, this 9,244-square-foot medical office property was built in 2010. Its current medical-office configuration accommodates patient movement, administrative functions, and staff operations, while also supporting professional office use.
The property is positioned near major thoroughfares within an established commercial setting that includes medical, professional, and retail users. Zoning is ON. The existing layout and improvements provide a foundation for continued healthcare occupancy or adaptation to other professional office requirements.
The property is positioned near major thoroughfares within an established commercial setting that includes medical, professional, and retail users. Zoning is ON. The existing layout and improvements provide a foundation for continued healthcare occupancy or adaptation to other professional office requirements.
Key Highlights
- 9,244‑square‑foot medical office property
- Built in 2010
- Current medical‑office configuration supports patient, administrative, and staff functions
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
$132,442
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
5.30%
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%
$2,648,840
$2.6M
Cap Rate 7%
$1,892,029
$1.9M
Cap Rate 9%
$1,471,578
$1.5M
Market Conditions
NOI Build-Up for 9,244 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
$207.4K $22.44/SF
− Vacancy
−$30.8K −$3.34/SF
EGI
$176.6K $19.10/SF
− OpEx
−$44.1K −$4.78/SF
NOI
$132.4K $14.33/SF
Area
Corpus Christi, TX
Vacancy
14.87%
Lease Rate
$22.44 /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%
$2,648,840
Cap Rate 7%
$1,892,029
Cap Rate 9%
$1,471,578
Alternative Uses
Best Use
Office B
$1.89M
$1.66M – $2.21M
NOI $132,442 @ 7.0% cap · market cap 5.30%
Second Best
Healthcare Medical
$1.54M
$1.35M – $1.80M
NOI $107,822 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$2.20M
$1.92M – $2.57M
NOI $153,968 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,499
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Configured for healthcare and professional office operations with access to major thoroughfares.
Where is this medical office space located?
The property is located at 1215 Santa Fe Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 9,244‑square‑foot medical office property; Built in 2010; Current medical‑office configuration supports patient, administrative, and staff functions
