Corpus Christi Retail/Warehouse
For Sale
Contact for pricing
2722 S Padre Island Dr, Corpus Christi, TX 78415
10,200 SF building suited for retail and warehouse use.
Property Size10,200 SF
Lot Size0.60 Acres
Price / SF$175.98
Days on Market181
Property Features for 2722 S Padre Island Dr
General Information
Standard status
Active
Size
10,200 SF
Class
B
Lot size
0.60 Acres
Property subtype
Retail
Investment Type
Owner/User
Listing Agency:
Rundog Real Estate Group
(512) 762-5426
Listed By:
Lee Hrncir · License #698085
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 11 at 12:10PM
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 Rundog Real Estate Group
Investment Insights
Based on property information with market context.
Located along South Padre Island Drive in Corpus Christi, this commercial property offers approximately 10,200 square feet of space on a 0.60-acre lot. Currently configured for retail and warehouse use, the building is suited for showroom, furniture, home goods, or distribution operations. The front portion features a retail showroom with visibility and customer access. The rear warehouse area provides space for inventory storage, receiving, and operational support. The layout offers flexibility for retail, wholesale, or service-oriented businesses. Positioned within a major commercial corridor, the property benefits from traffic, accessibility, and proximity to surrounding retail and business activity.
Key Highlights
- High‑traffic location on South Padre Island Drive.
- Large ±10,200 square‑foot building on 0.60 acres.
- Configured for retail and warehouse use.
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
$117,596
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
6.55%
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%
$2,351,920
$2.4M
Cap Rate 7%
$1,679,943
$1.7M
Cap Rate 9%
$1,306,622
$1.3M
Market Conditions
NOI Build-Up for 10,200 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
$183.6K $18.00/SF
− Vacancy
−$15.6K −$1.53/SF
EGI
$168.0K $16.47/SF
− OpEx
−$50.4K −$4.94/SF
NOI
$117.6K $11.53/SF
Area
ZIP 78415
Vacancy
8.50%
Lease Rate
$18.00 /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%
$2,351,920
Cap Rate 7%
$1,679,943
Cap Rate 9%
$1,306,622
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,596 @ 7.0% cap · market cap 6.55%
Second Best
Warehouse
$1.04M
$912.0K – $1.22M
NOI $72,958 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,891 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
795
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Showroom - 10,200 SF building suited for retail and warehouse use.
Where is this showroom located?
The property is located at 2722 S Padre Island Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: High‑traffic location on South Padre Island Drive.; Large ±10,200 square‑foot building on 0.60 acres.; Configured for retail and warehouse use.
