Two-Tenant Retail
New
For Sale
$429,000
200 Highway 35 N, Rockport, TX 78382
Business Opportunity, ROCKPORT, TX
Property Size2,112 SF
Price / SF$203.13
Days on Market7
Property Features for 200 Highway 35 N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
City
Subdivision
Smith and Wood
Elementary school district
RFISD
Middle school district
RFISD
High school district
RFISD
Standard status
Active
Size
2,112 SF
Building Details
Year built
1975
Floors in Building
1
Number of units
2
Listing Agency:
LUCE PROPERTIES
(361) 729-9161
Listed By:
DAYNE LUCE · License #0431648
(361) 779-5829
Added: Aug 19
Changed: Aug 25
Last Checked: Aug 25 at 7:06PM
MLS# 155869
Copyright © 2026 Rockport Area Association of Realtors. 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 2,112-square-foot retail storefront was built in 1975 and is leased on both sides. Interior renovations were completed in 2018 and 2019, before the current tenants took occupancy. The configuration provides two occupied commercial sides within a single storefront property.
Located at 200 Highway 35 N, the property has road frontage along Business Highway 35 and convenient access to downtown Rockport, the courthouse, Rockport Beach, and nearby businesses. Its position a few blocks from the water places the building within an established commercial area near the waterfront.
Located at 200 Highway 35 N, the property has road frontage along Business Highway 35 and convenient access to downtown Rockport, the courthouse, Rockport Beach, and nearby businesses. Its position a few blocks from the water places the building within an established commercial area near the waterfront.
Key Highlights
- 2,112 square feet of retail storefront space
- Leased on both sides
- Road frontage along Business Highway 35
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
$24,349
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
5.68%
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%
$486,980
$487.0K
Cap Rate 7%
$347,843
$347.8K
Cap Rate 9%
$270,544
$270.5K
Market Conditions
NOI Build-Up for 2,112 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
$38.0K $18.00/SF
− Vacancy
−$3.2K −$1.53/SF
EGI
$34.8K $16.47/SF
− OpEx
−$10.4K −$4.94/SF
NOI
$24.3K $11.53/SF
Area
Aransas County, TX
Vacancy
8.50%
Lease Rate
$18.00 /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%
$486,980
Cap Rate 7%
$347,843
Cap Rate 9%
$270,544
Alternative Uses
Best Use
Retail
$347.8K
$304.4K – $405.8K
NOI $24,349 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$807.4K
$706.5K – $941.9K
NOI $56,516 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
15k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
6,557 visits/mo
0.1 miles
Wells Fargo
Shops & Services
3,284 visits/mo
0.3 miles
Watermill Express
Shops & Services
3,191 visits/mo
0.1 miles
Stripes
Shops & Services
1,973 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Leased storefront with highway frontage near downtown, the waterfront, courthouse, and Rockport Beach.
Where is this storefront property located?
The property is located at 200 Highway 35 N Rockport, TX.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,112 square feet of retail storefront space; Leased on both sides; Road frontage along Business Highway 35
