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    Luxury Condos Near South Padre Title is generated by Realmo AI

    134 E Atol St., South Padre Island, TX 78597

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    For Sale
    $9,950,000

    MULTI_FAMILY - South Padre Island, TX

    Property size:
    21,600 SF
    Lot size:
    0.43 Acres
    Price / SF:
    $460/SF
    Added:
    Jul 31, 2024
    Days on Market:
    669
    Last Refresh:
    May 30 at 1:06 am

    Property Features for 134 E Atol St.

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi
    Bedrooms
    35
    Bathrooms
    44
    Rooms
    Bathroom 7, Bathroom 4, Bedroom 25, Bedroom 5, Bathroom 35, Bathroom 28, Bedroom 8, Bathroom 23, Bathroom 18, Bedroom 17, Bathroom 27, Bathroom 13, Bedroom 16, Bathroom 9, Bathroom 36, Bedroom 22, Bathroom 22, Bathroom 32, Bedroom 14, Bathroom 31, Bathroom 40, Bedroom 30, Bathroom 41, Bedroom 21, Bedroom 10, Bathroom 14, Bedroom 2, Bathroom 30, Bathroom 3, Bedroom 18, Bathroom 10, Bedroom 32, Bedroom 20, Bathroom 21, Bedroom 12, Bathroom 8, Bedroom 7, Bathroom 44, Bedroom 11, Bathroom 26, Bedroom 4, Bedroom 9, Bedroom 1, Bedroom 29, Bedroom 34, Bathroom 43, Bedroom 33, Bathroom 11, Bathroom 29, Bathroom 25, Bathroom 12, Bathroom 34, Bedroom 13, Bedroom 26, Bedroom 31, Bedroom 35, Bathroom 16, Bathroom 24, Bathroom 38, Bathroom 20, Bedroom 19, Bedroom 3, Bathroom 42, Bathroom 33, Bathroom 6, Bathroom 37, Bedroom 15, Bedroom 23, Bathroom 2, Bedroom 24, Bathroom 19, Bathroom 15, Bathroom 17, Bedroom 6, Bathroom 39, Bathroom 1, Bedroom 28, Bedroom 27, Bathroom 5
    Parking features
    Assigned
    Interior features
    Cabinets-Custom, Ceiling Fan(s), Kitchen Island, Smoke Detector, Unfurnished, Walk-in Closet, Washer/Dryer Hook-up
    Exterior features
    BBQ Area, Balcony, Pool
    Appliances
    Cook-Top, Dishwasher, Microwave, Oven-Convection, Refrigerator, Washer/Dryer
    Standard status
    Active
    Size
    21,600 SF
    Lot size
    0.43 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    12712

    Building Details

    Year built
    2024
    Floors in Building
    3
    Number of units
    9
    Flooring type
    Tile
    Building materials
    Block
    Roof type
    Flat

    We can help!

    Listing Contact
    Priyanka Patel

    Listing agent Priyanka Patel

    Listing office Key Realty 135 Paseo Del Prado Suite 35, Edinburg, TX

    Listing date Jul 31, 2024

    MLS# 101482 Listing URL

    Copyright © 2026 South Padre Island Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Beachfront location: Steps away from the beach on South Padre Island.
    • Luxurious units: Options for spacious 5 bed/5.5 bath or 3 bed/3.5 bath configurations.
    • En suite bathrooms: Each bedroom features a private en suite bathroom.
    • Deluxe balconies: Every unit includes a spacious balcony with ocean views.
    • Gourmet kitchens: Large, well‑appointed kitchens designed for entertaining.
    • New construction: Built in 2024.

    Overview

    This stunning 3-story luxury condominium building is located just steps away from the beaches of South Padre Island. This exclusive nine-unit property offers a blend of elegance, comfort, and seaside fun. The property features four spacious 5 bed/5.5 bath units and five charming 3 bed/3.5 bath units. Each bedroom includes a private en suite bathroom. Every unit boasts a deluxe, spacious balcony, perfect for soaking in the ocean views. The large, well-appointed kitchens are designed for entertaining. The property is located in South Padre Island, TX.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Restaurant Law Firm Real Estate Agency Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Padre Island
    County
    Cameron
    State
    Texas
    Longitude
    -97.1700859
    Latitude
    26.1099792

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    FAQs

    What type of property is this?
    Apartment building - Exclusive nine-unit property steps from the beach.
    Where is this apartment building located?
    The property is located at 134 E Atol St. South Padre Island, TX.
    What is the asking price?
    The asking price for this property is $9,950,000.
    What are key features of this property?
    This property features: Beachfront location: Steps away from the beach on South Padre Island.; Luxurious units: Options for spacious 5 bed/5.5 bath or 3 bed/3.5 bath configurations.; En suite bathrooms: Each bedroom features a private en suite bathroom.
    (713) 540-9730
    We can help!
    Listing Contact
    Priyanka Patel
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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