Flex Space with Five Roll-Up
For Sale
$580,000
2977 Cr 37, Corpus Christi, TX 78417
Multiple structures, residential improvements, and a large garage support storage, office, workshop, and work/live configurations.
Property Size6,624 SF
Lot Size6.71 Acres
Price / SF$87.56
Days on Market12
Property Features for 2977 Cr 37
General Information
Standard status
Active
Size
6,624 SF
Lot size
6.71 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1980
Abandoned
No
Listing Agency:
Gene Guernsey & Assoc.Realtors
(361) 960-7653
Listed By:
Gene Guernsey · License #0372996
Source:
Thebranchinc
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 28 at 12:56PM
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 Gene Guernsey & Assoc.Realtors
Investment Insights
Based on property information with market context.
This 6.71-acre flex property includes multiple structures, two residences, a large garage, and a separate single-story building. The larger house contains 4 bedrooms and 5 bathrooms, while the front house provides 3 bedrooms and 2 bathrooms. Five full-size roll-up doors expand the garage’s utility for equipment storage, workshops, or vehicle access. The additional building can accommodate office functions or be adapted for other commercial activity. A septic system serves the site, which is outside city limits and has no zoning designation identified in the property information.
Access is provided via Jurica Road/CR 37, with connections toward Saratoga and FM 665, also known as Old Brownsville Road. The property is minutes from transportation routes serving the Port of Corpus Christi and petrochemical plants. Its existing improvements and acreage support contractor, service-company, equipment-yard, light-industrial, and mixed-use work/live operations.
Access is provided via Jurica Road/CR 37, with connections toward Saratoga and FM 665, also known as Old Brownsville Road. The property is minutes from transportation routes serving the Port of Corpus Christi and petrochemical plants. Its existing improvements and acreage support contractor, service-company, equipment-yard, light-industrial, and mixed-use work/live operations.
Key Highlights
- 6.71‑acre flex property outside city limits
- Large garage with five full‑size roll‑up doors
- Two residences: larger house with 4 bedrooms and 5 bathrooms; front house with 3 bedrooms and 2 bathrooms
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
$43,985
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
7.58%
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%
$879,700
$879.7K
Cap Rate 7%
$628,357
$628.4K
Cap Rate 9%
$488,722
$488.7K
Market Conditions
NOI Build-Up for 6,624 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
$55.6K $8.40/SF
− Vacancy
−$3.9K −$0.59/SF
EGI
$51.7K $7.81/SF
− OpEx
−$7.8K −$1.17/SF
NOI
$44.0K $6.64/SF
Area
Corpus Christi, 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%
$879,700
Cap Rate 7%
$628,357
Cap Rate 9%
$488,722
Alternative Uses
Best Use
Flex RnD
$996.4K
$871.9K – $1.16M
NOI $69,751 @ 7.0% cap · market cap 12.03%
Second Best
Warehouse
$628.4K
$549.8K – $733.1K
NOI $43,985 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,329 @ 7.0% cap · market cap 19.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78417, TX
4,482
Population
1,627
Households
2.8
Avg Household Size
34
Median Age
10%
College-Educated
70%
High-School Grad
9.3 sq mi
ZIP Area
482
Density / Sq Mi
$53,941
Median Household Income
$33,739
Median Earnings
$1,186
Median Rent
$133,300
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 - Multiple structures, residential improvements, and a large garage support storage, office, workshop, and work/live configurations.
Where is this flex space located?
The property is located at 2977 Cr 37 Corpus Christi, TX.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 6.71‑acre flex property outside city limits; Large garage with five full‑size roll‑up doors; Two residences: larger house with 4 bedrooms and 5 bathrooms; front house with 3 bedrooms and 2 bathrooms
