Multi-Tenant Shopping
For Sale
$3,800,000
Pending
14493 S Padre Island Drive S, Corpus Christi, TX 78418
CommercialSale, Corpus Christi, TX
Property Size12,097 SF
Lot Size1.31 Acres
Days on Market342
Property Features for 14493 S Padre Island Drive S
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Security features
Security
Subdivision
Mariners Cay
Lot features
Corner Lot, Landscaped, Level
Standard status
Pending
APN
479305070010
Size
12,097 SF
Lot size
1.31 Acres
Taxes and HOA fees
Tax Description
MARINERS CAY LTS 1 & 2 BLK 507
Legal Description
MARINERS CAY LTS 1 & 2 BLK 507
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Central
Cooling system
Central Air, Gas (Cooling), Electric
Water source
Public
Building Details
Year built
1996
Floors in Building
1
Number of units
9
Building materials
Block, Concrete, Stucco
Roof type
Flat
Listing Agency:
ARMANDO AVALOS REALTY, INC.
(361) 857-2220
Listed By:
Armando Avalos · License #0128102
(361) 816-2220
Added: Oct 10, 2025
Changed: Sep 13
Last Checked: Sep 16 at 2:06PM
MLS# 466160
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 12,097-square-foot shopping center occupies 1.31 acres and was built in 1996. The property includes block, concrete, and stucco construction, a flat roof, off-street parking, and central heating and cooling. Public water and sewer serve the site.
The tenant mix includes Isle Mail & More, Deluxe Nails, Padre Pizzeria, A Plus Cleaners, Cabana Pantry, On Island Time, Coastal Financial Services, and The International Dance Studio. Services represented across the center include mailing and shipping, mailbox rentals, office supplies, personal care, food service, laundry and alterations, specialty pantry goods, property management, financial services, and dance and exercise instruction. The property is located on S Padre Island Drive S in Corpus Christi’s 78418 postal area.
The tenant mix includes Isle Mail & More, Deluxe Nails, Padre Pizzeria, A Plus Cleaners, Cabana Pantry, On Island Time, Coastal Financial Services, and The International Dance Studio. Services represented across the center include mailing and shipping, mailbox rentals, office supplies, personal care, food service, laundry and alterations, specialty pantry goods, property management, financial services, and dance and exercise instruction. The property is located on S Padre Island Drive S in Corpus Christi’s 78418 postal area.
Key Highlights
- 12,097‑square‑foot shopping center on 1.31 acres
- Built in 1996 with block, concrete, and stucco construction
- Eight named tenant businesses represent retail, food, services, and professional uses
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
$161,132
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
4.24%
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%
$3,222,640
$3.2M
Cap Rate 7%
$2,301,886
$2.3M
Cap Rate 9%
$1,790,356
$1.8M
Market Conditions
NOI Build-Up for 12,097 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
$232.3K $19.20/SF
− Vacancy
−$17.4K −$1.44/SF
EGI
$214.8K $17.76/SF
− OpEx
−$53.7K −$4.44/SF
NOI
$161.1K $13.32/SF
Area
ZIP 78418
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$3,222,640
Cap Rate 7%
$2,301,886
Cap Rate 9%
$1,790,356
Alternative Uses
Best Use
Specialty Retail
$2.30M
$2.01M – $2.69M
NOI $161,132 @ 7.0% cap · market cap 4.24%
Second Best
Retail
$1.99M
$1.74M – $2.32M
NOI $139,466 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$4.62M
$4.05M – $5.40M
NOI $323,707 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
384
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Compass Plaza — 14646 Compass St, Corpus Christi, TX 78418
- Day & Night Boardwalk Shopping Center — John F Kennedy Memorial Causeway, Corpus Christi, TX 78418
Frequently Asked Questions
What type of property is this?
Shopping center - Established island retail property with a diverse tenant lineup and public water and sewer service.
Where is this shopping center located?
The property is located at 14493 S Padre Island Drive S Corpus Christi, TX.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 12,097‑square‑foot shopping center on 1.31 acres; Built in 1996 with block, concrete, and stucco construction; Eight named tenant businesses represent retail, food, services, and professional uses
