Remodeled Motel and Management
For Sale
$1,600,000
9401 SPID, Corpus Christi, TX 78418
Turnkey motel with 44 rooms and recently remodeled management living quarters, offering flexible ownership options.
Property Size23,420 SF
Days on Market93
Property Features for 9401 SPID
General Information
Standard status
Active
Size
23,420 SF
Property subtype
Hospitality
Additional Details
Business Included
Yes
Building Details
Building Size
23,420 SF
Listing Agency:
Cravey Real Estate Services Inc
Listed By:
Adam Stern · License #TX #695443
(361) 739-0808
Source:
Craveyrealestate
Added: Jun 2
Changed: Aug 31
Last Checked: Sep 1 at 5:56PM
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 Cravey Real Estate Services Inc
Investment Insights
Based on property information with market context.
The Padre Motel and related business are offered for sale in whole or in part, with the seller open to multiple deal structures. The property includes 44 rooms, with 20 rooms recently remodeled within the past two years. In addition, the management living quarters have been recently remodeled and include a kitchen along with four bedrooms and two bathrooms.
The seller is willing to sell the entire business and property together, while also considering alternatives for how the available land may be handled, including subdivision or leasing. This flexibility can be useful for buyers evaluating an operation-first purchase or a longer-term plan that may include phased redevelopment.
For hospitality buyers and operators, the room mix and recent updates support an opportunity to manage both existing business activity and ongoing guest experience improvements. The remodeled management unit provides on-site functionality for day-to-day oversight. Depending on a buyer’s strategy, the property may also fit investors interested in acquiring a motel asset with the option to retain land flexibility through subdivision or land leasing.
The seller is willing to sell the entire business and property together, while also considering alternatives for how the available land may be handled, including subdivision or leasing. This flexibility can be useful for buyers evaluating an operation-first purchase or a longer-term plan that may include phased redevelopment.
For hospitality buyers and operators, the room mix and recent updates support an opportunity to manage both existing business activity and ongoing guest experience improvements. The remodeled management unit provides on-site functionality for day-to-day oversight. Depending on a buyer’s strategy, the property may also fit investors interested in acquiring a motel asset with the option to retain land flexibility through subdivision or land leasing.
Key Highlights
- 44‑room motel offered for sale, including the Padre Motel business.
- 20 rooms were recently remodeled within the past 2 years.
- Management living quarters were recently remodeled and include a kitchen, 4 bedrooms, and 2 bathrooms.
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
$72,087
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
4.51%
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%
$1,441,740
$1.4M
Cap Rate 7%
$1,029,814
$1.0M
Cap Rate 9%
$800,967
$801.0K
Market Conditions
NOI Build-Up for 23,420 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
$337.2K $14.40/SF
− Vacancy
−$185.5K −$7.92/SF
EGI
$151.8K $6.48/SF
− OpEx
−$79.7K −$3.40/SF
NOI
$72.1K $3.08/SF
Area
ZIP 78418
Vacancy
55.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
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%
$1,441,740
Cap Rate 7%
$1,029,814
Cap Rate 9%
$800,967
Alternative Uses
Best Use
Hotel Hospitality
$1.03M
$901.1K – $1.20M
NOI $72,087 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.95M
$7.83M – $10.45M
NOI $626,702 @ 7.0% cap · market cap 39.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Under-served
Demand for This Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Motel - Turnkey motel with 44 rooms and recently remodeled management living quarters, offering flexible ownership options.
Where is this motel located?
The property is located at 9401 SPID Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 44‑room motel offered for sale, including the Padre Motel business.; 20 rooms were recently remodeled within the past 2 years.; Management living quarters were recently remodeled and include a kitchen, 4 bedrooms, and 2 bathrooms.
