Flex Space with Drive-In
For Sale
Contact for pricing
1531 Port Avenue S Stanley St, Corpus Christi, TX 78405
IL-zoned commercial space accommodates office, automotive, equipment, storage, and light industrial uses.
Property Size2,662 SF
Price / SF$107.06
Days on Market9
Property Features for 1531 Port Avenue S Stanley St
General Information
Standard status
Active
Size
2,662 SF
Property subtype
RETAIL
Listing Agency:
Cravey Real Estate Services, Inc.
(361) 877-2463
Listed By:
Matthew Cravey · License #0409080
(361) 877-2463
Source:
Moodyscre
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 28 at 9:12PM
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 Cravey Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This 2,662-square-foot flex property combines a flexible commercial layout with two drive-in roll-up doors oriented toward Stanley Street. The configuration is suited to office, automotive, equipment, storage, and light industrial operations, with on-site parking and direct street access for customers and employees. The property is zoned IL (Light Industrial).
Located at 1531 Port Avenue S Stanley St. in Corpus Christi, the site fronts S. Port Avenue, described as a north-south commercial corridor with traffic exposure. The surrounding area includes industrial users, service shops, and retail businesses, providing an established commercial setting for a range of operating needs.
Located at 1531 Port Avenue S Stanley St. in Corpus Christi, the site fronts S. Port Avenue, described as a north-south commercial corridor with traffic exposure. The surrounding area includes industrial users, service shops, and retail businesses, providing an established commercial setting for a range of operating needs.
Key Highlights
- 2,662 SF flex space with two drive‑in roll‑up garage doors
- Two garage doors face Stanley Street for direct functional access
- IL (Light Industrial) zoning
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
$13,933
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
4.89%
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%
$278,660
$278.7K
Cap Rate 7%
$199,043
$199.0K
Cap Rate 9%
$154,811
$154.8K
Market Conditions
NOI Build-Up for 2,662 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
$21.4K $8.04/SF
− Vacancy
−$1.5K −$0.56/SF
EGI
$19.9K $7.48/SF
− OpEx
−$6.0K −$2.24/SF
NOI
$13.9K $5.23/SF
Area
Corpus Christi, TX
Vacancy
7.00%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
30.00%
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%
$278,660
Cap Rate 7%
$199,043
Cap Rate 9%
$154,811
Alternative Uses
Best Use
Flex RnD
$400.4K
$350.4K – $467.2K
NOI $28,031 @ 7.0% cap · market cap 9.84%
Second Best
Industrial
$199.0K
$174.2K – $232.2K
NOI $13,933 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$633.4K
$554.2K – $739.0K
NOI $44,338 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78405, TX
14,151
Population
6,068
Households
2.3
Avg Household Size
37
Median Age
4%
College-Educated
62%
High-School Grad
5.1 sq mi
ZIP Area
2,775
Density / Sq Mi
$37,188
Median Household Income
$25,323
Median Earnings
$1,030
Median Rent
$75,300
Median Home Value
Market
Vacancy Rate% for Industrial 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 - IL-zoned commercial space accommodates office, automotive, equipment, storage, and light industrial uses.
Where is this flex space located?
The property is located at 1531 Port Avenue S Stanley St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,662 SF flex space with two drive‑in roll‑up garage doors; Two garage doors face Stanley Street for direct functional access; IL (Light Industrial) zoning
