Multi-Tenant Flex
For Sale
$449,000
2590 SH 35 BYPASS, Aransas Pass, TX 78336
CommercialSale, Aransas Pass, TX
Property Size4,000 SF
Lot Size1.00 Acre
Price / SF$112.25
Days on Market203
Property Features for 2590 SH 35 BYPASS
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage
Interior features
Storage
Subdivision
Ken Mar III
Lot features
Corner Lot
Standard status
Active
APN
244522
Size
4,000 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Description
KEN MAR III UNIT 3, LOT 1-CR
Legal Description
KEN MAR III UNIT 3, LOT 1-CR
Utilities
Heating system
Ductless (Heating)
Cooling system
Ductless
Water source
Well
Amenities
covered drive-up carport
integrated crane system
office with AC and restroom
Building Details
Year built
2015
Floors in Building
1
Building materials
MetalSiding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
National One Realty
(361) 806-9004
Listed By:
Jacob Brown · License #0665175
(512) 720-9698
Added: Feb 16
Changed: Aug 19
Last Checked: Sep 7 at 12:06PM
MLS# 471704
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 flex-space property comprises a 4,000-square-foot metal building configured as a two-tenant industrial duplex. Built in 2015, the facility includes separate rental areas, storage, an updated office with air conditioning, and a restroom. The building is currently rented and sits on a 1-acre parcel with a 5,000-square-foot commercial-grade concrete slab.
Operational improvements include a 25-by-40-foot covered concrete drive-up carport, three oversized overhead bay doors, and an integrated crane system serving the work area. The property is located at 2590 SH 35 Bypass in Aransas Pass, Texas, with well water, metal roofing, ductless heating and cooling, and garage parking.
Operational improvements include a 25-by-40-foot covered concrete drive-up carport, three oversized overhead bay doors, and an integrated crane system serving the work area. The property is located at 2590 SH 35 Bypass in Aransas Pass, Texas, with well water, metal roofing, ductless heating and cooling, and garage parking.
Key Highlights
- 4,000 square feet configured as a two‑tenant industrial duplex
- 1‑acre parcel with a 5,000‑square‑foot commercial‑grade slab
- 25' x 40' covered concrete drive‑up carport
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
$26,561
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
5.92%
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%
$531,220
$531.2K
Cap Rate 7%
$379,443
$379.4K
Cap Rate 9%
$295,122
$295.1K
Market Conditions
NOI Build-Up for 4,000 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
$33.6K $8.40/SF
− Vacancy
−$2.4K −$0.59/SF
EGI
$31.2K $7.81/SF
− OpEx
−$4.7K −$1.17/SF
NOI
$26.6K $6.64/SF
Area
San Patricio County, TX
Vacancy
7.00%
Lease Rate
$8.40 /SF/Yr
Expense Ratio
15.00%
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%
$531,220
Cap Rate 7%
$379,443
Cap Rate 9%
$295,122
Alternative Uses
Best Use
Warehouse
$379.4K
$332.0K – $442.7K
NOI $26,561 @ 7.0% cap · market cap 5.92%
Second Best
Industrial
$284.6K
$249.0K – $332.1K
NOI $19,923 @ 7.0% cap · market cap 4.44%
Theoretical Best
Hotel Hospitality
$2.05M
$1.80M – $2.39M
NOI $143,640 @ 7.0% cap · market cap 31.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78336, TX
12,009
Population
6,577
Households
1.8
Avg Household Size
45
Median Age
16%
College-Educated
87%
High-School Grad
60.0 sq mi
ZIP Area
200
Density / Sq Mi
$58,536
Median Household Income
$37,297
Median Earnings
$1,182
Median Rent
$204,200
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.
Frequently Asked Questions
What type of property is this?
Flex space - Two-tenant industrial facility with covered service space, overhead doors, crane equipment, office area, and restroom.
Where is this flex space located?
The property is located at 2590 SH 35 BYPASS Aransas Pass, TX.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 4,000 square feet configured as a two‑tenant industrial duplex; 1‑acre parcel with a 5,000‑square‑foot commercial‑grade slab; 25' x 40' covered concrete drive‑up carport
