Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Port Aransas Land For Sale Title is generated by Realmo AI

    138 Mariners Drive lot 5, Port Aransas, TX 78373

    View on Map
    Claim this Listing
    For Sale
    $139,777

    LAND - Port Aransas, TX

    Lot size:
    0.23 Acres
    Added:
    Sep 10, 2025
    Days on Market:
    246
    Last Refresh:
    May 13 at 11:06 pm

    Property Features for 138 Mariners Drive lot 5

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Landscaping
    Standard status
    Active
    APN
    480500010050
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Description
    MARINERS WATCH LT 5 BLK 1

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Kendra Wray
    Kendra Wray

    Listing agent Kendra Wray License #0491455

    Listing office Keller Williams Heritage 1717 N. Loop 1604 E, San Antonio, TX

    Listing date Sep 10, 2025

    MLS# 464653 Listing URL

    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.

    HighLights

    • HOA private golf cart accessible boardwalk to the beach.
    • Short term rentals allowed.
    • Views for days.
    • Prime location in Port Aransas.
    • Ready to build.
    • Landscaping included.

    Overview

    This 0.23-acre lot is located in Mariners Watch in Port Aransas, Texas. It is suitable for building a coastal residence or vacation getaway. The property benefits from Homeowners Association (HOA) access to a private golf cart accessible boardwalk leading to the beach. The location offers views and short-term rentals are permitted.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Port Aransas
    County
    Nueces
    State
    Texas
    Longitude
    -97.122124
    Latitude
    27.750675

    Nearby Similar for Sale

    • $1,395,000
      3,100 SF

      Port Aransas Commercial Opportunity

      Centrally located property with potential for various business ventures.
      118 Cut Off Road, Port Aransas, TX 78373
      View Details
    • $1,900,000
      6,306 SF

      Iconic Beachcomber Boutique Hotel

      Boutique hotel steps from the beach in Port Aransas.
      529 & 539 S 12th Street, Port Aransas, TX 78373
      View Details
    • $835,000
      2,688 SF

      Port Aransas Four-Plex Investment

      Four-unit complex in Port Aransas, suitable for long/short-term rentals.
      419 6th Street, Port Aransas, TX 78373
      View Details
    • $899,500

      Waterfront Land in Port Aransas

      Canal front lot with bulkhead and bay views.
      506 Mustang Boulevard lot: 3, Port Aransas, TX 78373
      View Details
    • $339,000

      Commercial Lot in Old Town

      Commercial land in the heart of downtown Port Aransas.
      124 W Brundrett lot: 20, Port Aransas, TX 78373
      View Details
    • $3,000,000

      Port Aransas Land Opportunity

      1.73 acres in central Port Aransas, near beaches.
      000 State Hwy 361, Port Aransas, TX 78373
      View Details
    • $650,000

      Waterfront Lot in Island Moorings

      Spacious waterfront lot with private dock in premier canal community.
      389 Marina Dr, Port Aransas, TX 78373
      View Details
    • $839,000
      3,578 SF

      Port Aransas Fourplex Investment Opportunity

      Well-kept fourplex near the beach with income potential.
      701 La Juana Court, Port Aransas, TX 78373
      View Details
    • $799,000

      Waterfront Lot with Stunning Views

      Large canal-front lot perfect for building a coastal home.
      463 Bayside Drive lot: 37, Port Aransas, TX 78373
      View Details
    • $449,000

      Waterfront Homesite in Gulf Waters Resort

      Rare waterfront lot in Port Aransas with resort amenities.
      5601 State Highway 361, Unit# 106, Port Aransas, TX 78373
      View Details
    • $650,000

      Waterfront Land in Island Moorings

      Spacious waterfront homesite with private boat dock and lift.
      389 Marina Drive lot: 12, Port Aransas, TX 78373
      View Details
    • $2,200,000
      6,169 SF

      Port Aransas Commercial Property with Suites

      Commercial property with office space, spa, suites, and pool.
      121 Cut Off, Port Aransas, TX 78373
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Coastal lot in Mariners Watch, near beach, short-term rentals allowed.
    Where is this residential land & home lot located?
    The property is located at 138 Mariners Drive lot 5 Port Aransas, TX.
    What is the asking price?
    The asking price for this property is $139,777.
    What are key features of this property?
    This property features: HOA private golf cart accessible boardwalk to the beach.; Short term rentals allowed.; Views for days.
    (361) 345-1177
    We can help!
    Listing Contact
    Kendra Wray
    Kendra Wray
    Real Estate License ID: 0491455
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    138 Mariners Drive lot: 5, Port Aransas, TX 78373
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!