Built-Out Office Unit with Conference
For Sale
$325,000
4600 Ocean Drive #101, Corpus Christi, TX 78412
Built-out office unit with reception, conference rooms, private offices, pantry, and two bathrooms.
Property Size1,696 SF
Price / SF$191.63
Days on Market44
Property Features for 4600 Ocean Drive #101
General Information
Standard status
Active
Size
1,696 SF
Property subtype
Commercial
Amenities
pool
gym
event space room
Building Details
Year Built
1963
Listing Agency:
Keller Williams Coastal Bend
(361) 249-4770
Listed By:
Will Storbeck · License #0722582
Source:
Kmrealestate
Added: Jul 18
Changed: Aug 29
Last Checked: Aug 29 at 5:24PM
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.
Office Unit 101 at the 4600 Building is configured for immediate professional use, with a reception and waiting area near the entrance, two conference-sized rooms, three additional hallway offices, and a kitchenette-style pantry. The suite also includes two full bathrooms with showers and measures 1696 in property size. Built in 1963, the property combines an established office setting with shared amenities for owners. Exterior maintenance is covered by the HOA, while owners can access a pool, gym, and reservable event space within the building. The office is located at 4600 Ocean Drive in Corpus Christi, Texas.
Key Highlights
- Built‑out office unit with reception and waiting area
- Two large conference‑sized rooms plus three hallway offices
- Two full bathrooms with showers and a kitchenette‑style pantry
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
$21,278
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
6.55%
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%
$425,560
$425.6K
Cap Rate 7%
$303,971
$304.0K
Cap Rate 9%
$236,422
$236.4K
Market Conditions
NOI Build-Up for 1,696 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
$34.6K $20.40/SF
− Vacancy
−$6.2K −$3.67/SF
EGI
$28.4K $16.73/SF
− OpEx
−$7.1K −$4.18/SF
NOI
$21.3K $12.55/SF
Area
ZIP 78412
Vacancy
18.00%
Lease Rate
$20.40 /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%
$425,560
Cap Rate 7%
$303,971
Cap Rate 9%
$236,422
Alternative Uses
Best Use
Office B
$304.0K
$266.0K – $354.6K
NOI $21,278 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$415.2K
$363.3K – $484.4K
NOI $29,063 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 78412, TX
38,783
Population
16,874
Households
2.3
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
8.6 sq mi
ZIP Area
4,510
Density / Sq Mi
$60,509
Median Household Income
$32,154
Median Earnings
$1,242
Median Rent
$188,500
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 - Built-out office unit with reception, conference rooms, private offices, pantry, and two bathrooms.
Where is this office units located?
The property is located at 4600 Ocean Drive #101 Corpus Christi, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Built‑out office unit with reception and waiting area; Two large conference‑sized rooms plus three hallway offices; Two full bathrooms with showers and a kitchenette‑style pantry
