Flour Bluff Commercial
For Sale
$1,599,000
2248 Flour Bluff Dr, Corpus Christi, TX 78418
Commercial property with office buildings and a large warehouse for sale.
Property Size8,150 SF
Lot Size1.32 Acres
Price / SF$196.20
Days on Market209
Property Features for 2248 Flour Bluff Dr
General Information
Standard status
Active
Size
8,150 SF
Lot size
1.32 Acres
Listing Agency:
Green Acres Real Estate
(361) 944-0575
Listed By:
Tina Marie Green · License #0648186
(361) 944-0575
Source:
Exprealty
Added: Jan 26
Changed: Aug 15
Last Checked: Aug 20 at 4:08AM
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 Green Acres Real Estate
Investment Insights
Based on property information with market context.
This commercial property is located in the growing Flour Bluff Drive area, offering convenient access to SPID, Naval Air Station, North Padre Island, Laguna Madre, and Mustang Island. The property includes two separate office buildings and a large warehouse. According to NCAD, the property features a 1572 square foot office, a 2720 square foot office, and an 8150 square foot shop/warehouse. The concrete parking area measures 34474 square feet. Additionally, there is a covered canopy suitable for RV or boat storage. The property is zoned CG-2 for general commercial business use.
Key Highlights
- Large 8150sf Warehouse ideal for storage, manufacturing, or distribution.
- Excellent Location: Minutes from SPID, Naval Air Station, N. Padre Island, Laguna Madre, and Mustang Island.
- Two Separate Office Buildings provide ample office space (1572sf and 2720sf).
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
$132,032
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
8.26%
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%
$2,640,640
$2.6M
Cap Rate 7%
$1,886,171
$1.9M
Cap Rate 9%
$1,467,022
$1.5M
Market Conditions
NOI Build-Up for 8,150 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
$201.5K $24.72/SF
− Vacancy
−$25.4K −$3.12/SF
EGI
$176.0K $21.60/SF
− OpEx
−$44.0K −$5.40/SF
NOI
$132.0K $16.20/SF
Area
ZIP 78418
Vacancy
12.62%
Lease Rate
$24.72 /SF/Yr
Expense Ratio
25.00%
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%
$2,640,640
Cap Rate 7%
$1,886,171
Cap Rate 9%
$1,467,022
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $132,032 @ 7.0% cap · market cap 8.26%
Second Best
Warehouse
$946.9K
$828.5K – $1.10M
NOI $66,280 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$3.12M
$2.73M – $3.63M
NOI $218,088 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- OSO Mini Storage — 1533 Flour Bluff Dr, Corpus Christi, TX 78418
Frequently Asked Questions
What type of property is this?
Warehouse - Commercial property with office buildings and a large warehouse for sale.
Where is this warehouse located?
The property is located at 2248 Flour Bluff Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Large 8150sf Warehouse ideal for storage, manufacturing, or distribution.; Excellent Location: Minutes from SPID, Naval Air Station, N. Padre Island, Laguna Madre, and Mustang Island.; Two Separate Office Buildings provide ample office space (1572sf and 2720sf).
