Updated Triplex With Covered
New
For Sale
$330,000
2701 Nemec St, Corpus Christi, TX 78415
Fully occupied three-unit property with varied floor plans, central and ductless cooling, and covered tenant parking.
Property Size3,080 SF
Price / SF$107.14
Days on Market3
Property Features for 2701 Nemec St
General Information
Standard status
Active
Size
3,080 SF
Property subtype
Multi-Family
Building Details
Year Built
1957
Listing Agency:
Prime Real Estate
Listed By:
Justin Colmenero · License #0581190
(361) 728-3313
Source:
Thebranchinc
Added: Sep 18
Last Checked: Sep 19 at 2:05PM
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 Prime Real Estate
Investment Insights
Based on property information with market context.
This updated triplex contains 3,080 square feet of living space across three separate homes on a 13,125-square-foot lot. The largest residence measures 1,590 square feet and includes four bedrooms and two baths. The other two homes each provide 790 square feet, with two bedrooms and one bath per unit. Unit 1 has central air and heat with an open, split-bedroom arrangement; Unit 2 uses a mini-split system, while Unit 3 has a window unit. Each residence includes an electric range and oven, with laminate and tile flooring throughout the property. Built in 1957 and updated over time, the property is fully occupied under fixed leases. An extended driveway and covered carport provide on-site parking, while the parcel includes 37.5 feet of street frontage.
Key Highlights
- Three‑unit property with 3,080 square feet of combined living space
- Unit 1: 1,590 square feet, 4 bedrooms, and 2 baths
- Units 2 and 3: 790 square feet each, with 2 bedrooms and 1 bath
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
$28,469
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
8.63%
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%
$569,380
$569.4K
Cap Rate 7%
$406,700
$406.7K
Cap Rate 9%
$316,322
$316.3K
Market Conditions
NOI Build-Up for 3,080 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
$46.2K $15.00/SF
− Vacancy
−$5.5K −$1.80/SF
EGI
$40.7K $13.20/SF
− OpEx
−$12.2K −$3.96/SF
NOI
$28.5K $9.24/SF
Area
ZIP 78415
Vacancy
11.97%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$569,380
Cap Rate 7%
$406,700
Cap Rate 9%
$316,322
Alternative Uses
Best Use
Multifamily LT 5
$406.7K
$355.9K – $474.5K
NOI $28,469 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$360.4K
$315.4K – $420.5K
NOI $25,229 @ 7.0% cap · market cap 7.65%
Theoretical Best
Office A
$732.9K
$641.3K – $855.0K
NOI $51,300 @ 7.0% cap · market cap 15.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
704
Businesses Nearby
Explore this area
Business Placement
Demographics for 78415, TX
38,722
Population
15,465
Households
2.5
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
109.2 sq mi
ZIP Area
355
Density / Sq Mi
$53,803
Median Household Income
$31,748
Median Earnings
$1,166
Median Rent
$135,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with varied floor plans, central and ductless cooling, and covered tenant parking.
Where is this triplex located?
The property is located at 2701 Nemec St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Three‑unit property with 3,080 square feet of combined living space; Unit 1: 1,590 square feet, 4 bedrooms, and 2 baths; Units 2 and 3: 790 square feet each, with 2 bedrooms and 1 bath
