9-Unit Apartment
For Sale
Contact for pricing
1300 N Live Oak St, Rockport, TX 78382
Cottage-style rental community with completed property upgrades and full current occupancy.
Property Size9,504 SF
Price / SF$136.78
Days on Market65
Property Features for 1300 N Live Oak St
General Information
Standard status
Active
Size
9,504 SF
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$95,500
Additional Details
Multifamily Units
9
Building Details
Year Built
1972
Year Renovated
2025
Buildings
7
Units
9
Tenancy
Multi
Listing Agency:
LS Realty Advisors, Inc.
Listed By:
Steve Guzek · License #TX 533667
Source:
Crexi
Added: Jul 1
Changed: Aug 31
Last Checked: Aug 31 at 4:36PM
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 LS Realty Advisors, Inc.
Investment Insights
Based on property information with market context.
This 9-unit apartment community consists of single-family cottage residences totaling 9,504 square feet. The property was built in 1972 and includes an additional undeveloped lot that may support future expansion. Recent work addressed flooring, subflooring, moisture barriers, and insulation throughout the rental units.
The community is located at 1300 N Live Oak St in Rockport, Texas, a coastal market with tourism, marine trades, healthcare, and retail/service employment. Its position between Corpus Christi and Victoria places the property within the Texas Coastal Bend region. All 9 units are currently leased, providing an occupied rental asset with recently completed physical improvements.
The community is located at 1300 N Live Oak St in Rockport, Texas, a coastal market with tourism, marine trades, healthcare, and retail/service employment. Its position between Corpus Christi and Victoria places the property within the Texas Coastal Bend region. All 9 units are currently leased, providing an occupied rental asset with recently completed physical improvements.
Key Highlights
- 9‑unit single‑family cottage rental community
- 9,504 square feet built in 1972
- Additional undeveloped lot included
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
$77,848
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
5.99%
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%
$1,556,960
$1.6M
Cap Rate 7%
$1,112,114
$1.1M
Cap Rate 9%
$864,978
$865.0K
Market Conditions
NOI Build-Up for 9,504 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
$161.9K $17.04/SF
− Vacancy
−$20.4K −$2.15/SF
EGI
$141.5K $14.89/SF
− OpEx
−$63.7K −$6.70/SF
NOI
$77.8K $8.19/SF
Area
Aransas County, TX
Vacancy
12.60%
Lease Rate
$17.04 /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%
$1,556,960
Cap Rate 7%
$1,112,114
Cap Rate 9%
$864,978
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$973.1K – $1.30M
NOI $77,848 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.63M
$3.18M – $4.24M
NOI $254,320 @ 7.0% cap · market cap 19.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
358
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Cottage-style rental community with completed property upgrades and full current occupancy.
Where is this apartment building located?
The property is located at 1300 N Live Oak St Rockport, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 9‑unit single‑family cottage rental community; 9,504 square feet built in 1972; Additional undeveloped lot included
