Four-Unit Flex Industrial
New
For Sale
$2,950,000
134 Heinsohn Road, Corpus Christi, TX 78406
Multi-suite commercial building with conditioned offices, restrooms, and overhead-door access.
Property Size20,473 SF
Price / SF$144.09
Days on Market4
Property Features for 134 Heinsohn Road
General Information
Standard status
Active
Size
20,473 SF
Property subtype
Business Opportunities
Amenities
Central Air, Electric
Concrete Driveway.
Level
Security Lighting. Interior lot, Level.
Building Details
Year Built
1985
Stories
1
Listing Agency:
ARMANDO AVALOS REALTY, INC.
(361) 857-2220
Listed By:
Armando Avalos · License #0128102
(361) 816-2220
Source:
Xome
Added: Aug 30
Changed: Sep 2
Last Checked: Sep 2 at 1:04PM
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 ARMANDO AVALOS REALTY, INC.
Investment Insights
Based on property information with market context.
This 20,473-square-foot flex property contains four rental units, each configured with air-conditioned office space and toilets. Units feature 20-foot ceiling heights and one or more 12-by-16-foot overhead doors, supporting a mix of office, storage, and service-oriented operations. Central air and electric service are provided.
The property is positioned just west of North Padre Island Drive and Highway 44, also known as Agnes Street, in Corpus Christi. The site includes 26 parking spaces along the front of the building, with additional parking or equipment-storage capacity in a gated rear yard. Concrete driveway access, security lighting, and level interior-lot positioning are also present. Built in 1985, the building offers a practical multi-unit configuration with dedicated office and utility areas.
The property is positioned just west of North Padre Island Drive and Highway 44, also known as Agnes Street, in Corpus Christi. The site includes 26 parking spaces along the front of the building, with additional parking or equipment-storage capacity in a gated rear yard. Concrete driveway access, security lighting, and level interior-lot positioning are also present. Built in 1985, the building offers a practical multi-unit configuration with dedicated office and utility areas.
Key Highlights
- 20,473‑square‑foot flex building with four rental units
- Each unit includes air‑conditioned offices and toilets
- 20‑foot ceiling height in every unit
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
Flex RnD
$3.08M
$2.69M – $3.59M
NOI $215,581 @ 7.0% cap · market cap 7.31%
Second Best
Warehouse
$1.94M
$1.70M – $2.27M
NOI $135,945 @ 7.0% cap · market cap 4.61%
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
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-suite commercial building with conditioned offices, restrooms, and overhead-door access.
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: 20,473‑square‑foot flex building with four rental units; Each unit includes air‑conditioned offices and toilets; 20‑foot ceiling height in every unit
