Office and Specialty Retail
For Sale
$279,000
701 Everhart, Corpus Christi, TX 78411
Versatile unit with parking lot circulation and Neighborhood Office zoning near Everhart and Alameda.
Property Size1,153 SF
Price / SF$241.98
Days on Market687
Property Features for 701 Everhart
General Information
Standard status
Active
Size
1,153 SF
Property subtype
Office
Zoning
Neighborhood Office
Amenities
A/C - Other
3
Subdivided Lot.
Concrete Driveway.
Subdivided.
Building Details
Year Built
1941
Listing Agency:
(361) 225-7900
Listed By:
Keller Williams Coastal Bend
(361) 548-7844
Source:
Xome
Added: Oct 18, 2024
Changed: Sep 2
Last Checked: Sep 4 at 2:41AM
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 Keller Williams Coastal Bend
Investment Insights
Based on property information with market context.
Located at 701 Everhart Rd in Corpus Christi, this property offers a versatile setup for an office or specialty retail use. The space is supported by Neighborhood Office zoning, and prospective users should review the City zoning guide for details on permitted uses.
The building is served by a well-designed parking lot that supports smooth drivability around the property, helping provide convenient access for customers, staff, and visitors. With an overall property size of 1,153 square feet, the layout is suited for smaller footprint operations that need straightforward on-site parking and zoning flexibility.
For buyers and tenants seeking a flexible option in the Everhart and Alameda area, this property presents a straightforward combination of adaptable zoning and practical site access.
The building is served by a well-designed parking lot that supports smooth drivability around the property, helping provide convenient access for customers, staff, and visitors. With an overall property size of 1,153 square feet, the layout is suited for smaller footprint operations that need straightforward on-site parking and zoning flexibility.
For buyers and tenants seeking a flexible option in the Everhart and Alameda area, this property presents a straightforward combination of adaptable zoning and practical site access.
Key Highlights
- Prime opportunity for an office or specialty retail space in a high‑traffic area near Everhart and Alameda in Corpus Christi
- Zoned as Neighborhood Office
- Parking lot layout provides smooth drivability around the building for easy access and convenience
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
$16,519
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
5.92%
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%
$330,380
$330.4K
Cap Rate 7%
$235,986
$236.0K
Cap Rate 9%
$183,544
$183.5K
Market Conditions
NOI Build-Up for 1,153 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
$25.9K $22.44/SF
− Vacancy
−$3.8K −$3.34/SF
EGI
$22.0K $19.10/SF
− OpEx
−$5.5K −$4.78/SF
NOI
$16.5K $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%
$330,380
Cap Rate 7%
$235,986
Cap Rate 9%
$183,544
Alternative Uses
Best Use
Office B
$236.0K
$206.5K – $275.3K
NOI $16,519 @ 7.0% cap · market cap 5.92%
Second Best
Retail
$199.2K
$174.3K – $232.5K
NOI $13,947 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$274.3K
$240.1K – $320.1K
NOI $19,204 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 78411, TX
26,150
Population
10,497
Households
2.5
Avg Household Size
40
Median Age
25%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,287
Density / Sq Mi
$60,387
Median Household Income
$31,756
Median Earnings
$1,199
Median Rent
$178,800
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?
Office units - Versatile unit with parking lot circulation and Neighborhood Office zoning near Everhart and Alameda.
Where is this office units located?
The property is located at 701 Everhart Corpus Christi, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Prime opportunity for an office or specialty retail space in a high‑traffic area near Everhart and Alameda in Corpus Christi; Zoned as Neighborhood Office; Parking lot layout provides smooth drivability around the building for easy access and convenience
