Reimagined Condo Complex Investment
For Sale
$7,000,000
1806 Hwy 35 N, Rockport, TX 78382
COMMERCIAL - Rockport, TX
Property Size30,824 SF
Lot Size1.69 Acres
Price / SF$227.10
Days on Market296
Property Features for 1806 Hwy 35 N
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Assigned
Security features
Security
Exterior features
Landscaping, Storage
Subdivision
Little Bay Landing
Lot features
Landscaped
Standard status
Active
APN
34900
Size
30,824 SF
Lot size
1.69 Acres
Taxes and HOA fees
Tax Description
Formerly Villa Del Palmas Unit A1 through D6 - all units and common areas included
Legal Description
Formerly Villa Del Palmas Unit A1 through D6 - all units and common areas included
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1971
Floors in Building
2
Number of units
24
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Coldwell Banker Pacesetter Steel · Coldwell Banker Real Estate
(361) 992-9231
Listed By:
Doug Nichols · License #0747730
(361) 739-2251
Added: Oct 9, 2025
Changed: Jul 28
Last Checked: Jul 31 at 3:06AM
MLS# 466124
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.
Little Bay Landing is a 24-unit condo complex located along Highway 35 N in Rockport. The property has been renovated from the studs, including HVAC, electrical, plumbing, windows, doors, and siding. The complex offers 284 feet of highway frontage in a location near HEB, Walmart, the new Starbucks, and local restaurants and attractions. The property consists of four 3-bedroom / 2.5-bath units and twenty 2-bedroom / 1.5-bath units, totaling 56 bedrooms and approximately 30,824 square feet of livable space. Each unit is individually metered and includes a full kitchen, living room, dining area, laundry room, storage space, and a private outdoor patio. The property's centerpiece is a resort-style heated pool and pool house. Additional features include a complete security system and ample parking. The property has a professional online presence with a dedicated website, active social media platforms, and a digital marketing team. The property sits on a 1.69-acre lot.
Key Highlights
- Fully renovated condo complex with new HVAC, electrical, plumbing, windows, doors, and siding.
- Enjoy the resort‑style heated pool and pool house year‑round.
- Prime location on Highway 35 N with 284 feet of frontage.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $525.2k | $17.04 |
| − Vacancy | −$66.2k | −$2.15 |
| EGI | $459.1k | $14.89 |
| − OpEx | −$206.6k | −$6.70 |
| NOI | $252.5k | $8.19 |
30,824 SF · lease $17.04/SF/yr · vacancy 12.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.61M
$3.16M – $4.21M
NOI $252,483 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.78M
$10.31M – $13.75M
NOI $824,827 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Apartment building - Turnkey 24-unit condo complex near Highway 35 N in Rockport.
Where is this apartment building located?
The property is located at 1806 Hwy 35 N Rockport, TX.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: Fully renovated condo complex with new HVAC, electrical, plumbing, windows, doors, and siding.; Enjoy the resort‑style heated pool and pool house year‑round.; Prime location on Highway 35 N with 284 feet of frontage.
