Office Buildings with Warehouse
For Sale
$1,599,000
2248 Flour Bluff Drive, Corpus Christi, TX 78418
CommercialSale, Corpus Christi, TX
Property Size12,442 SF
Lot Size1.32 Acres
Price / SF$128.52
Days on Market138
Property Features for 2248 Flour Bluff Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Garage, Off Street
Security features
Security
Subdivision
Shoreline Oaks
Lot features
Interior Lot
Standard status
Active
APN
801000010010
Size
12,442 SF
Lot size
1.32 Acres
Taxes and HOA fees
Tax Description
SHORELINE OAKS UNIT 1 BLK 1 LOT 1B
Legal Description
SHORELINE OAKS UNIT 1 BLK 1 LOT 1B
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
reception/lobby area
conference room
break area with kitchenette
ADA compliant
storage area
covered canopy
Building Details
Year built
2006
Floors in Building
1
Roof type
Shingle, Metal
Listing Agency:
Green Acres Real Estate
(361) 944-0575
Listed By:
Tina Marie Green · License #0648186
(361) 991-5263
Added: May 1
Changed: Sep 12
Last Checked: Sep 15 at 7:06AM
MLS# 473954
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.
The property includes two office buildings and a separate warehouse/shop on a 1.32-acre commercial site. The larger office measures over 2,700 square feet and contains a reception area, conference room, eight furnished offices, kitchenette, break area, two restrooms, and ADA-compliant halls and doors. The second office offers over 1,570 square feet with a lobby, three furnished offices, two restrooms, storage or break space, and a copy room.
A fully fenced rear area contains an over 8,100-square-foot warehouse/shop with two air-conditioned offices, two bathrooms, upstairs storage, seven 12-foot overhead garage doors, and three 10-foot overhead garage doors. A covered canopy provides additional parking or storage space, while concrete parking across the property exceeds 34,000 square feet. The site is zoned CG-2 general commercial and includes public water and sewer, central air, electric heat, metal and shingle roofing, and a 2006 construction date.
A fully fenced rear area contains an over 8,100-square-foot warehouse/shop with two air-conditioned offices, two bathrooms, upstairs storage, seven 12-foot overhead garage doors, and three 10-foot overhead garage doors. A covered canopy provides additional parking or storage space, while concrete parking across the property exceeds 34,000 square feet. The site is zoned CG-2 general commercial and includes public water and sewer, central air, electric heat, metal and shingle roofing, and a 2006 construction date.
Key Highlights
- Two office buildings plus an over 8,100‑square‑foot warehouse/shop
- Larger office measures over 2,700 square feet; second office offers over 1,570 square feet
- Warehouse/shop includes 7‑12' and 3‑10' overhead garage doors
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
$117,331
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
7.34%
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%
$2,346,620
$2.3M
Cap Rate 7%
$1,676,157
$1.7M
Cap Rate 9%
$1,303,678
$1.3M
Market Conditions
NOI Build-Up for 12,442 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
$194.1K $15.60/SF
− Vacancy
−$13.6K −$1.09/SF
EGI
$180.5K $14.51/SF
− OpEx
−$63.2K −$5.08/SF
NOI
$117.3K $9.43/SF
Area
ZIP 78418
Vacancy
7.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$2,346,620
Cap Rate 7%
$1,676,157
Cap Rate 9%
$1,303,678
Alternative Uses
Best Use
Office B
$2.88M
$2.52M – $3.36M
NOI $201,564 @ 7.0% cap · market cap 12.61%
Second Best
Flex RnD
$1.68M
$1.47M – $1.96M
NOI $117,331 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$4.76M
$4.16M – $5.55M
NOI $332,939 @ 7.0% cap · market cap 20.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
92
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Two office buildings and a fenced shop provide furnished work areas, conference space, storage, and multiple overhead doors.
Where is this office building located?
The property is located at 2248 Flour Bluff Drive 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: Two office buildings plus an over 8,100‑square‑foot warehouse/shop; Larger office measures over 2,700 square feet; second office offers over 1,570 square feet; Warehouse/shop includes 7‑12' and 3‑10' overhead garage doors
