Industrial Warehouse and
For Sale
$1,800,000
6550 Leopard St, Corpus Christi, TX 78409
Gated light-industrial site with a concrete yard and multiple drive-through bays for heavy truck service and fabrication use.
Property Size20,048 SF
Lot Size3.07 Acres
Price / SF$89.78
Days on Market73
Property Features for 6550 Leopard St
General Information
Standard status
Active
Size
20,048 SF
Lot size
3.07 Acres
Property subtype
Industrial Warehouse Fabrication Facility
Zoning
IL (Light Industrial)
Additional Details
Fenced Yard
Yes
Drive-In Doors
3
Building Details
Building Size
20,048 SF
Listing Agency:
Cravey Real Estate Services Inc
Listed By:
Matthew Cravey, SIOR, CCIM · License #TX #203443
(361) 877-2463
Source:
Craveyrealestate
Added: Jun 22
Changed: Aug 31
Last Checked: Sep 1 at 6:10PM
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.
Industrial warehouse and fabrication facility built for heavy service workflows, totaling 20,048 SF across three functional structures. The main shop building features dual rows of drive-through bays, supported by a covered canopy work area at the north end. A secondary building includes three roll-up doors, and the rear wash bay facility offers covered and open-air configuration. A storefront/office frontage provides a customer-facing component.
Set on a fully gated 3.07-acre concrete yard along Leopard Street, the site is designed for heavy vehicle circulation and outdoor storage. Multiple drive-through and drive-in configurations support large-truck movement, equipment access, and industrial operational flow.
Zoned IL (Light Industrial), the property is positioned for industrial, fabrication, and service-oriented users seeking a purpose-built yard-and-bay arrangement for repair or fabrication operations.
Set on a fully gated 3.07-acre concrete yard along Leopard Street, the site is designed for heavy vehicle circulation and outdoor storage. Multiple drive-through and drive-in configurations support large-truck movement, equipment access, and industrial operational flow.
Zoned IL (Light Industrial), the property is positioned for industrial, fabrication, and service-oriented users seeking a purpose-built yard-and-bay arrangement for repair or fabrication operations.
Key Highlights
- 20,048 SF industrial warehouse and fabrication facility built in 1962
- Fully gated 3.07‑acre concrete yard for heavy‑vehicle circulation and outdoor storage
- Multiple drive‑through and drive‑in configurations for large trucks, equipment, and industrial workflows
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
$133,123
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
7.40%
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%
$2,662,460
$2.7M
Cap Rate 7%
$1,901,757
$1.9M
Cap Rate 9%
$1,479,144
$1.5M
Market Conditions
NOI Build-Up for 20,048 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
$168.4K $8.40/SF
− Vacancy
−$11.8K −$0.59/SF
EGI
$156.6K $7.81/SF
− OpEx
−$23.5K −$1.17/SF
NOI
$133.1K $6.64/SF
Area
Corpus Christi, TX
Vacancy
7.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$2,662,460
Cap Rate 7%
$1,901,757
Cap Rate 9%
$1,479,144
Alternative Uses
Best Use
Warehouse
$1.90M
$1.66M – $2.22M
NOI $133,123 @ 7.0% cap · market cap 7.40%
Second Best
Industrial
$1.50M
$1.31M – $1.75M
NOI $104,932 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$4.77M
$4.17M – $5.57M
NOI $333,919 @ 7.0% cap · market cap 18.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 78409, TX
2,570
Population
1,013
Households
2.5
Avg Household Size
39
Median Age
14%
College-Educated
75%
High-School Grad
18.4 sq mi
ZIP Area
140
Density / Sq Mi
$62,813
Median Household Income
$33,078
Median Earnings
$986
Median Rent
$133,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Gated light-industrial site with a concrete yard and multiple drive-through bays for heavy truck service and fabrication use.
Where is this manufacturing property located?
The property is located at 6550 Leopard St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 20,048 SF industrial warehouse and fabrication facility built in 1962; Fully gated 3.07‑acre concrete yard for heavy‑vehicle circulation and outdoor storage; Multiple drive‑through and drive‑in configurations for large trucks, equipment, and industrial workflows
