Freestanding Retail/Warehouse Building For
For Sale
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13340 Leopard St, Corpus Christi, TX 78410
Freestanding retail/warehouse building suitable for retail or storage.
Property Size14,860 SF
Price / SF$87.48
Days on Market1369
Property Features for 13340 Leopard St
General Information
Standard status
Active
Size
14,860 SF
Property subtype
Retail
Zoning
CG-2 (General Commercial)
Building Details
Year Built
2000
Listing Agency:
Cravey Real Estate Services Inc
(361) 289-5168
Listed By:
Matthew Cravey · License #TX 0409080
Source:
Crexi
Added: Nov 9, 2022
Changed: Aug 8
Last Checked: Aug 8 at 11:43AM
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.
This freestanding building, formerly a closed appliance mart, features concrete tilt wall construction and concrete parking. It backs up to a Chili's parking lot. The property is suitable for use as a retail store or for storage purposes. The air-conditioned showroom area offers approximately 7,620 square feet with a 13-foot ceiling. The warehouse component provides approximately 6,400 square feet with a 21-foot ceiling. Loading is facilitated by a pit-type loading dock. The total property size is 14,860 square feet. Current property taxes are $17,474.31.
Key Highlights
- Freestanding building ideal for retail or storage purposes.
- Air conditioned showroom boasting 7,620 SF with a 13' ceiling.**
- Warehouse space of 6,400 SF featuring a 21' ceiling.
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
$98,673
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
7.59%
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%
$1,973,460
$2.0M
Cap Rate 7%
$1,409,614
$1.4M
Cap Rate 9%
$1,096,367
$1.1M
Market Conditions
NOI Build-Up for 14,860 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
$124.8K $8.40/SF
− Vacancy
−$8.7K −$0.59/SF
EGI
$116.1K $7.81/SF
− OpEx
−$17.4K −$1.17/SF
NOI
$98.7K $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%
$1,973,460
Cap Rate 7%
$1,409,614
Cap Rate 9%
$1,096,367
Alternative Uses
Best Use
Retail
$2.57M
$2.25M – $3.00M
NOI $179,747 @ 7.0% cap · market cap 13.83%
Second Best
Warehouse
$1.41M
$1.23M – $1.64M
NOI $98,673 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$3.54M
$3.09M – $4.13M
NOI $247,508 @ 7.0% cap · market cap 19.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
Explore this area
Business Placement
Demographics for 78410, TX
29,545
Population
10,798
Households
2.7
Avg Household Size
35
Median Age
21%
College-Educated
90%
High-School Grad
22.5 sq mi
ZIP Area
1,313
Density / Sq Mi
$77,642
Median Household Income
$45,386
Median Earnings
$1,158
Median Rent
$220,400
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?
Retail space - Freestanding retail/warehouse building suitable for retail or storage.
Where is this retail space located?
The property is located at 13340 Leopard St Corpus Christi, 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: Freestanding building ideal for retail or storage purposes.; Air conditioned showroom boasting 7,620 SF with a 13' ceiling.**; Warehouse space of 6,400 SF featuring a 21' ceiling.
