Five-Unit Apartment
New
For Sale
$284,900
1218 Barton St, Corpus Christi, TX 78418
Fully occupied property with a mix of one-bedroom and efficiency apartments on a sizable residential lot.
Property Size3,037 SF
Price / SF$93.81
Days on Market7
Property Features for 1218 Barton St
General Information
Standard status
Active
Size
3,037 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Corpus Christi Realty Group
Listed By:
Jacqueline O'Neill · License #0618758
(361) 947-8003
Source:
Thebranchinc
Added: Sep 8
Last Checked: Sep 13 at 1:46PM
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 Corpus Christi Realty Group
Investment Insights
Based on property information with market context.
This apartment property contains five units within a 3,037-square-foot building. The configuration includes three one-bedroom, one-bath apartments and two efficiency units, providing a varied unit mix within a single asset. The property is fully occupied and was built in 1900.
The 21,000-square-foot lot offers substantial outdoor area associated with the building. The property is located at 1218 Barton St in Corpus Christi, Texas, within ZIP code 78418.
The 21,000-square-foot lot offers substantial outdoor area associated with the building. The property is located at 1218 Barton St in Corpus Christi, Texas, within ZIP code 78418.
Key Highlights
- Five‑unit apartment property with three 1‑bedroom, 1‑bath units and two efficiency units
- 3,037 SF building on a 21,000 SF lot
- Fully occupied
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
$23,825
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
8.36%
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%
$476,500
$476.5K
Cap Rate 7%
$340,357
$340.4K
Cap Rate 9%
$264,722
$264.7K
Market Conditions
NOI Build-Up for 3,037 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
$49.6K $16.32/SF
− Vacancy
−$6.2K −$2.06/SF
EGI
$43.3K $14.26/SF
− OpEx
−$19.5K −$6.42/SF
NOI
$23.8K $7.85/SF
Area
ZIP 78418
Vacancy
12.60%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
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%
$476,500
Cap Rate 7%
$340,357
Cap Rate 9%
$264,722
Alternative Uses
Best Use
Apartment 5plus
$340.4K
$297.8K – $397.1K
NOI $23,825 @ 7.0% cap · market cap 8.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,268 @ 7.0% cap · market cap 28.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied property with a mix of one-bedroom and efficiency apartments on a sizable residential lot.
Where is this apartment building located?
The property is located at 1218 Barton St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: Five‑unit apartment property with three 1‑bedroom, 1‑bath units and two efficiency units; 3,037 SF building on a 21,000 SF lot; Fully occupied
