Commercial Development Land with
For Sale
$399,900
2222 N Padre Island Drive, Corpus Christi, TX 78408
CommercialSale, Corpus Christi, TX
Property Size1,342 SF
Lot Size1.50 Acres
Price / SF$297.99
Days on Market105
Property Features for 2222 N Padre Island Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Off Street
Exterior features
Storage
Subdivision
Mcbride Partition
Lot features
Interior Lot, Level
Directions
Near the SW corner of N Padre Island Dr and Interstate 37 intersection, along the NPID access road. Can exit Leopard.
Standard status
Active
APN
493300000530
Size
1,342 SF
Lot size
1.50 Acres
Taxes and HOA fees
Tax Description
MCBRIDE PARTITION 1.476 ACS OUT OF SHARE G
Legal Description
MCBRIDE PARTITION 1.476 ACS OUT OF SHARE G
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating), Natural Gas
Cooling system
Gas (Cooling), Central Air, Electric
Water source
Public
Building Details
Year built
1935
Floors in Building
1
Additional Structures
Storage
Listing Agency:
Cass Real Estate
(361) 643-2662
Listed By:
Brenton Reagan · License #0669077
(512) 736-2695
Added: May 19
Changed: Aug 19
Last Checked: Aug 31 at 8:06PM
MLS# 476353
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 offering presents 1.5 acres of land with existing site improvements and utilities already brought to the property, including water supply lines, natural gas lines, septic, and electrical connections. The property was previously a homestead, and the main house would require significant repairs or removal. Additional structures include a detached garage with a large cement slab and storage, three sheds for supplemental storage, and a network of sidewalks connecting the improvements (buildings).
The property is located at the intersection of NPID and I-37 in Corpus Christi, TX. The City has indicated the site’s potential as a blank slate, and the property has been re-zoned Commercial (C-G). The outdoor layout includes an outdoor covered pavilion and open yard space that can accommodate parking, lay-down, or storage depending on the intended use.
The re-zoned C-G designation provides flexibility for multiple commercial concepts such as self-storage, a gas station/convenience store, an office building, vehicle sales, or other uses consistent with the commercial zoning framework. For operators who want to build with ready-to-go utility infrastructure and supplemental outbuildings on site, this parcel offers a practical starting point while allowing room to shape the final development plan.
The property is located at the intersection of NPID and I-37 in Corpus Christi, TX. The City has indicated the site’s potential as a blank slate, and the property has been re-zoned Commercial (C-G). The outdoor layout includes an outdoor covered pavilion and open yard space that can accommodate parking, lay-down, or storage depending on the intended use.
The re-zoned C-G designation provides flexibility for multiple commercial concepts such as self-storage, a gas station/convenience store, an office building, vehicle sales, or other uses consistent with the commercial zoning framework. For operators who want to build with ready-to-go utility infrastructure and supplemental outbuildings on site, this parcel offers a practical starting point while allowing room to shape the final development plan.
Key Highlights
- 1.5 acres +/- at the intersection of NPID and I‑37, currently zoned residential and stated re‑zoned Commercial (C‑G)
- C‑G zoning offers multiple possible uses including self‑storage, gas station/convenience store, office building, vehicle sales, townhomes, daycare home, park space, church
- Utilities and services already present: water supply lines, natural gas lines, septic, and electrical connections running into the property
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
$12,541
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
3.14%
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%
$250,820
$250.8K
Cap Rate 7%
$179,157
$179.2K
Cap Rate 9%
$139,344
$139.3K
Market Conditions
NOI Build-Up for 1,342 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
$26.1K $19.44/SF
− Vacancy
−$3.3K −$2.45/SF
EGI
$22.8K $16.99/SF
− OpEx
−$10.3K −$7.65/SF
NOI
$12.5K $9.34/SF
Area
Corpus Christi, TX
Vacancy
12.60%
Lease Rate
$19.44 /SF/Yr
Expense Ratio
45.00%
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%
$250,820
Cap Rate 7%
$179,157
Cap Rate 9%
$139,344
Alternative Uses
Best Use
Apartment 5plus
$179.2K
$156.8K – $209.0K
NOI $12,541 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.3K
$279.4K – $372.5K
NOI $22,352 @ 7.0% cap · market cap 5.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 78408, TX
11,023
Population
4,543
Households
2.4
Avg Household Size
37
Median Age
8%
College-Educated
69%
High-School Grad
5.9 sq mi
ZIP Area
1,868
Density / Sq Mi
$43,096
Median Household Income
$30,621
Median Earnings
$979
Median Rent
$82,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 1.5-acre commercial site with existing utilities and outbuildings, positioned at a major highway intersection.
Where is this commercial land located?
The property is located at 2222 N Padre Island Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1.5 acres +/- at the intersection of NPID and I‑37, currently zoned residential and stated re‑zoned Commercial (C‑G); C‑G zoning offers multiple possible uses including self‑storage, gas station/convenience store, office building, vehicle sales, townhomes, daycare home, park space, church; Utilities and services already present: water supply lines, natural gas lines, septic, and electrical connections running into the property
