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    Insulated Shop with Office Space Title is generated by Realmo AI

    2324 Monkey Road, Rockport, TX 78382

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    For Sale
    $360,000

    COMMERCIAL - ROCKPORT, TX

    Property size:
    3,340 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $107/SF
    Added:
    Feb 26, 2025
    Days on Market:
    451
    Last Refresh:
    May 23 at 5:06 pm

    Property Features for 2324 Monkey Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    County
    Standard status
    Active
    Size
    3,340 SF
    Lot size
    0.50 Acres

    Building Details

    Year built
    2007
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    Courtney Wells

    Listing agent Courtney Wells

    Listing office LUCE PROPERTIES 1809 Bay Shore Drive, ROCKPORT, TX

    Listing date Feb 26, 2025

    MLS# 147448

    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.

    HighLights

    • Large 40x80 ft insulated metal shop featuring 9 roll‑up doors, air compressor, electric water heater, washer/dryer hookups, and full bathroom.
    • Unrestricted 1/2 acre lot with dual access from two streets.
    • Attached 10x60 ft side building with central HVAC, suitable for office space or conversion.
    • Two water wells and a private conventional septic system are already in place.
    • Convenient location near Cove Harbor boat ramp.
    • Potential to build a home and have a shop, or convert the metal building into a barndominium.

    Overview

    This property features two unrestricted lots totaling approximately 0.5 acres in the county. It includes a 40x80 ft insulated metal shop equipped with 9 large roll-up doors, an air compressor, an electric water heater, washer and dryer hookups, and a full bathroom. An attached 10x60 ft side building with central HVAC offers potential office space. The property is serviced by a private conventional septic system and two water wells. Dual access is available from Monkey Rd and San Antonio St. The location is a short drive from the Cove Harbor boat ramp. The spacious lot, shaded by trees, provides room to build a home with the shop in the back. There is also the option to convert part of the metal building into a barndominium for combined living and workspace. This property is suited for business needs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jerrys Auto Service Auto Repair Shop

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Auto Parts Store Kitchen & Bath Showroom HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rockport
    County
    Aransas
    State
    Texas
    Longitude
    -97.0842972
    Latitude
    27.9968755

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    FAQs

    What type of property is this?
    Flex space - Versatile property with shop, office, and potential living space.
    Where is this flex space located?
    The property is located at 2324 Monkey Road Rockport, TX.
    What is the asking price?
    The asking price for this property is $360,000.
    What are key features of this property?
    This property features: Large 40x80 ft insulated metal shop featuring 9 roll‑up doors, air compressor, electric water heater, washer/dryer hookups, and full bathroom.; Unrestricted 1/2 acre lot with dual access from two streets.; Attached 10x60 ft side building with central HVAC, suitable for office space or conversion.
    (361) 230-9007
    We can help!
    Listing Contact
    Courtney Wells
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    2324 Monkey Road, ROCKPORT, TX 78382
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