Four-Unit Flex
New
For Sale
$2,950,000
134 Heinsohn Road, Corpus Christi, TX 78406
CommercialSale, Corpus Christi, TX
Property Size20,473 SF
Lot Size1.73 Acres
Price / SF$144.09
Days on Market1
Property Features for 134 Heinsohn Road
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Security features
Security
Subdivision
Airport Indust
Lot features
Interior Lot, Level
Standard status
Active
APN
006800020020
Size
20,473 SF
Lot size
1.73 Acres
Taxes and HOA fees
Tax Description
AIRPORT INDUSTRIAL 1.73 ACS OUT OF N POR LT 2 BK 2
Legal Description
AIRPORT INDUSTRIAL 1.73 ACS OUT OF N POR LT 2 BK 2
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Number of units
4
Building materials
Frame, MetalSiding, Concrete
Roof type
Metal
Listing Agency:
ARMANDO AVALOS REALTY, INC.
(361) 857-2220
Listed By:
Armando Avalos · License #0128102
(361) 816-2220
Added: Sep 1
Last Checked: Sep 1 at 7:06PM
MLS# 481684
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 20,473-square-foot flex property contains four rental units, each incorporating air-conditioned office areas and restrooms. Units offer 20-foot ceiling heights and one or more 12-foot by 16-foot overhead doors, supporting a range of commercial and light industrial operations. The building was constructed in 1985 with frame, metal siding, and concrete components, along with a metal roof.
The 1.73-acre site provides 26 front parking spaces, plus additional vehicle parking or equipment storage within a gated rear yard. Public water and public sewer serve the property, while electric heating and central air conditioning provide building systems for the occupied areas. The property is located west of North Padre Island Drive and Hwy. 44, also identified as Agnes St., in Corpus Christi.
The 1.73-acre site provides 26 front parking spaces, plus additional vehicle parking or equipment storage within a gated rear yard. Public water and public sewer serve the property, while electric heating and central air conditioning provide building systems for the occupied areas. The property is located west of North Padre Island Drive and Hwy. 44, also identified as Agnes St., in Corpus Christi.
Key Highlights
- Four rental units within a 20,473‑square‑foot flex building
- Each unit includes air‑conditioned offices and restrooms
- 20‑foot ceiling heights throughout the units
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
$215,581
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
7.31%
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%
$4,311,620
$4.3M
Cap Rate 7%
$3,079,729
$3.1M
Cap Rate 9%
$2,395,344
$2.4M
Market Conditions
NOI Build-Up for 20,473 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
$368.5K $18.00/SF
− Vacancy
−$36.9K −$1.80/SF
EGI
$331.7K $16.20/SF
− OpEx
−$116.1K −$5.67/SF
NOI
$215.6K $10.53/SF
Area
Corpus Christi, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
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%
$4,311,620
Cap Rate 7%
$3,079,729
Cap Rate 9%
$2,395,344
Alternative Uses
Best Use
Office B
$4.19M
$3.67M – $4.89M
NOI $293,324 @ 7.0% cap · market cap 9.94%
Second Best
Flex RnD
$3.08M
$2.69M – $3.59M
NOI $215,581 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$4.87M
$4.26M – $5.68M
NOI $340,998 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Multi-tenant
Tenancy
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78406, TX
1,185
Population
353
Households
3.4
Avg Household Size
32
Median Age
2%
College-Educated
68%
High-School Grad
11.3 sq mi
ZIP Area
105
Density / Sq Mi
$51,646
Median Household Income
$18,214
Median Earnings
$1,715
Median Rent
Market
Vacancy Rate% for Office 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?
Flex space - Multi-unit commercial building with conditioned offices, restrooms, overhead doors, and gated rear yard space.
Where is this flex space located?
The property is located at 134 Heinsohn Road Corpus Christi, TX.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Four rental units within a 20,473‑square‑foot flex building; Each unit includes air‑conditioned offices and restrooms; 20‑foot ceiling heights throughout the units
