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227 S Hwy 35 Bypass, Rockport, TX 78382
LI-zoned industrial property with showroom space and heavy-load storage capability.
Property Size17,000 SF
Price / SF$111.76
Days on Market203
Property Features for 227 S Hwy 35 Bypass
General Information
Standard status
Active
Size
17,000 SF
Class
B
Property subtype
Industrial
Zoning
LI
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
New Southern Commercial Real Estate
Listed By:
Wade Spenst · License #TX 0677021
(361) 834-6333
Source:
Crexi
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 31 at 11:43PM
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 New Southern Commercial Real Estate
Investment Insights
Based on property information with market context.
This 17,000-square-foot warehouse combines showroom space with storage capacity suited to heavy-load operations. The property is zoned LI, supporting its industrial character and operational flexibility.
Located at 227 S Hwy 35 Bypass in Rockport, the building fronts the Highway 35 Bypass frontage road, providing direct exposure along the corridor. Its configuration accommodates a range of industrial, distribution, logistics, and service-oriented operations, as well as owner-user occupancy.
Located at 227 S Hwy 35 Bypass in Rockport, the building fronts the Highway 35 Bypass frontage road, providing direct exposure along the corridor. Its configuration accommodates a range of industrial, distribution, logistics, and service-oriented operations, as well as owner-user occupancy.
Key Highlights
- 17,000‑square‑foot warehouse
- Directly fronts the Highway 35 Bypass frontage road
- Showroom space paired with heavy‑load storage capability
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
$158,590
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
8.35%
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%
$3,171,800
$3.2M
Cap Rate 7%
$2,265,571
$2.3M
Cap Rate 9%
$1,762,111
$1.8M
Market Conditions
NOI Build-Up for 17,000 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
$265.2K $15.60/SF
− Vacancy
−$21.2K −$1.25/SF
EGI
$244.0K $14.35/SF
− OpEx
−$85.4K −$5.02/SF
NOI
$158.6K $9.33/SF
Area
Aransas County, TX
Vacancy
8.00%
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%
$3,171,800
Cap Rate 7%
$2,265,571
Cap Rate 9%
$1,762,111
Alternative Uses
Best Use
Flex RnD
$2.27M
$1.98M – $2.64M
NOI $158,590 @ 7.0% cap · market cap 8.35%
Second Best
Warehouse
$1.61M
$1.41M – $1.88M
NOI $112,883 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$6.50M
$5.69M – $7.58M
NOI $454,907 @ 7.0% cap · market cap 23.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Safeguard Mini Storage - Rockport — 2429 TX-35 BUS, Rockport, TX 78382
Frequently Asked Questions
What type of property is this?
Warehouse - LI-zoned industrial property with showroom space and heavy-load storage capability.
Where is this warehouse located?
The property is located at 227 S Hwy 35 Bypass Rockport, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 17,000‑square‑foot warehouse; Directly fronts the Highway 35 Bypass frontage road; Showroom space paired with heavy‑load storage capability
