London Area Retail
2494 County Road 33 Corpus Christi, TX 78415
New retail plaza in growing Corpus Christi area.
Type:Retail
Property size:
24,560 SFPrice / SF:
$242/SF- Added:
- Dec 6, 2024
- Days on Market:
- 581
- Last Refresh:
- Jun 30 at 3:24 pm
Property Features for 2494 County Road 33
General Information
- Standard status
- Active
- Size
- 24,560 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2022
Listing office (361) 694-3917
Listing date Dec 6, 2024
Source Xome
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 Teifke Real Estate
Investment Insights
Based on property information with market context.
This retail plaza, completed in November 2022, is located in the London area of Corpus Christi, situated on a corner lot across from the London School District and along the area's main highway. Constructed of splitface block, the property is 100% leased with tenants on NNN leases. The plaza includes a turf courtyard with a stage intended for community engagement and events. Current tenants include an urgent care facility, State Farm, a restaurant, coffee shop, pizza place, kids play zone, med spa, hair salon, church, cooking club, Pelicans Ice, and a boutique. The area is experiencing growth at a rate seven times faster than the rest of Corpus Christi.
Key Highlights
- 100% leased with NNN leases, providing immediate income.
- Newly constructed in November 2022, minimizing maintenance costs.
- Located in a rapidly growing area.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $456.8k | $18.60 |
| − Vacancy | −$34.3k | −$1.40 |
| EGI | $422.6k | $17.21 |
| − OpEx | −$105.6k | −$4.30 |
| NOI | $316.9k | $12.90 |
24,560 SF · lease $18.60/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$4.53M
$3.96M – $5.28M
NOI $316,916 @ 7.0% cap · market cap 5.33%
Second Best
Retail
$4.05M
$3.54M – $4.72M
NOI $283,152 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$5.84M
$5.11M – $6.82M
NOI $409,071 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
Similar Off Market Nearby
- London Square Plaza — 1290 FM 43, Corpus Christi, TX 78415
FAQs
What type of property is this?
Shopping center - New retail plaza in growing Corpus Christi area.
Where is this shopping center located?
The property is located at 2494 County Road 33 Corpus Christi, TX.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 100% leased with NNN leases, providing immediate income.; Newly constructed in November 2022, minimizing maintenance costs.; Located in a rapidly growing area.
