Updated Triplex
For Sale
$330,000
2701 Nemec Street, Corpus Christi, TX 78415
Residential, Corpus Christi, TX
Property Size3,080 SF
Lot Size0.30 Acres
Price / SF$107.14
Days on Market14
Property Features for 2701 Nemec Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-1B
Zoning description
R-1B
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 6, Bedroom 8, Bathroom 1, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 4, Bedroom 7
Parking features
Covered, Carport
Interior features
OpenFloorplan, SplitBedrooms, BreakfastBar
Appliances
ElectricOven, ElectricRange
Subdivision
Nemec
Lot features
Interior Lot
Elementary school
G Hicks
Middle school
Cunningham
High school
Moody
Elementary school district
Corpus Christi ISD
Middle school district
Corpus Christi ISD
High school district
Corpus Christi ISD
Standard status
Active
APN
571600030280
Size
3,080 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Description
NEMEC BLK 3 LOT 28
Tax Annual Amount
6285
Legal Description
NEMEC BLK 3 LOT 28
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Central Air, Window Unit(s), Ductless
Water source
Public
Building Details
Year built
1957
Floors in Building
1
Number of units
3
Flooring type
Tile, Laminate
Roof type
Shingle
Listing Agency:
Prime Real Estate
(361) 334-7653
Listed By:
Justin Colmenero · License #0581190
(361) 728-3313
Added: Aug 16
Changed: Aug 27
Last Checked: Aug 29 at 7:06AM
MLS# 480997
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 three-unit residential income property contains 3,080 square feet of living space on a 0.3-acre lot. The unit mix includes a 1,590-square-foot residence with four bedrooms and two baths, plus two 790-square-foot residences, each with two bedrooms and one bath. Built in 1957 and updated over time, the property includes laminate and tile flooring, electric ranges and ovens, and a combination of central air, ductless systems, and a window unit. Unit 1 has an open, split-bedroom layout and breakfast bar.
The property is fully occupied with fixed leases and sits at 2701 Nemec Street in Corpus Christi. The 13,125-square-foot lot provides 37.5 feet of street frontage, along with an extended driveway and covered carport parking. Public water and sewer serve the property, and the zoning is R-1B.
The property is fully occupied with fixed leases and sits at 2701 Nemec Street in Corpus Christi. The 13,125-square-foot lot provides 37.5 feet of street frontage, along with an extended driveway and covered carport parking. Public water and sewer serve the property, and the zoning is R-1B.
Key Highlights
- Three‑unit property totaling 3,080 square feet of living space
- Unit mix includes 1,590 SF with 4 bedrooms and 2 baths, plus two 790 SF units
- Fully occupied with fixed leases
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
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Paved road access
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
Market
Vacancy Rate% for Multifamily 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?
Triplex - Fully occupied three-unit rental with varied floor plans, covered parking, and public utilities in Corpus Christi.
Where is this triplex located?
The property is located at 2701 Nemec Street 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 totaling 3,080 square feet of living space; Unit mix includes 1,590 SF with 4 bedrooms and 2 baths, plus two 790 SF units; Fully occupied with fixed leases
