Turnkey Multifamily Condo
1806 Highway 35 N Rockport, TX 78382
For Sale
$7,000,000
Fully reimagined 24-unit condo complex with individually metered units and resort-style heated pool.
Property Size30,824 SF
Price / SF$227.10
Days on Market358
Property Features for 1806 Highway 35 N
General Information
- Standard status
- Active
- Size
- 30,824 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1971
Listing Agency:
Coldwell Banker Pacesetter Steel
Listed By:
Doug Nichols
(210) 824-7878
Source:
Phyllisbrowning
Added: Aug 1, 2025
Changed: Jul 22
Last Checked: Jul 23 at 7:05AM
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 Coldwell Banker Pacesetter Steel
Investment Insights
Based on property information with market context.
Little Bay Landing is a fully reimagined 24-unit condo complex built for turnkey ownership. Renovations from the studs reportedly included HVAC, electrical, plumbing, windows, doors, and siding, resulting in a like-new property. The community offers four 3-bedroom units and twenty 2-bedroom units, with each unit individually metered. Interiors include full kitchens, living rooms, dining areas, laundry rooms, storage, and private outdoor patios, supporting both short- and long-term rental use. The centerpiece is a resort-style heated pool with a pool house, complemented by a complete security system and ample parking.
The property is located along Highway 35 N in Rockport and provides 284 feet of highway frontage. It is positioned near retail and dining amenities, including HEB, Walmart, and a new Starbucks.
For operation and exposure, the offering includes a dedicated website, active social media platforms, and an online marketing presence managed by a digital marketing team. The community is described as having a professional online setup intended to support occupancy.
The property is located along Highway 35 N in Rockport and provides 284 feet of highway frontage. It is positioned near retail and dining amenities, including HEB, Walmart, and a new Starbucks.
For operation and exposure, the offering includes a dedicated website, active social media platforms, and an online marketing presence managed by a digital marketing team. The community is described as having a professional online setup intended to support occupancy.
Key Highlights
- Fully reimagined 24‑unit condo complex built in 1971, with a renovation from the studs
- Units are individually metered and include full kitchens, living/dining areas, laundry rooms, and private outdoor patios
- Unit mix: four 3‑bedroom/2.5‑bath and twenty 2‑bedroom/1.5‑bath; total of 56 bedrooms and approx. 30,824 SF of livable space
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
FAQs
What type of property is this?
Apartment building - Fully reimagined 24-unit condo complex with individually metered units and resort-style heated pool.
Where is this apartment building located?
The property is located at 1806 Highway 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 reimagined 24‑unit condo complex built in 1971, with a renovation from the studs; Units are individually metered and include full kitchens, living/dining areas, laundry rooms, and private outdoor patios; Unit mix: four 3‑bedroom/2.5‑bath and twenty 2‑bedroom/1.5‑bath; total of 56 bedrooms and approx. 30,824 SF of livable space
