Mixed-Use Property with Five-Bay
For Sale
$580,000
2977 CR 37, Corpus Christi, TX 78417
CommercialSale, Corpus Christi, TX
Property Size6,624 SF
Lot Size6.71 Acres
Price / SF$87.56
Days on Market274
Property Features for 2977 CR 37
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OCL
Zoning description
OCL
Parking features
Garage
Subdivision
Bishop & Blocker
Lot features
Interior Lot, Level
Standard status
Active
APN
070100170010
Size
6,624 SF
Lot size
6.71 Acres
Taxes and HOA fees
Tax Description
BISHOP AND BLOCKER LT 1 BLK 17 & 18
Legal Description
BISHOP AND BLOCKER LT 1 BLK 17 & 18
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Building materials
Brick
Roof type
Shingle
Listing Agency:
Gene Guernsey & Assoc.Realtors
(361) 992-4663
Listed By:
Gene Guernsey · License #0372996
(361) 960-7653
Added: Dec 1, 2025
Changed: Aug 24
Last Checked: Sep 1 at 2:06AM
MLS# 468069
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 mixed-use property comprises 6.71 acres with 6,624 square feet of improvements across multiple structures. Two residences are included: the larger home has 4 bedrooms and 5 bathrooms, while the front house provides 3 bedrooms and 2 bathrooms. A substantial garage features five full-size roll-up doors, supporting storage, equipment housing, workshop functions, or similar commercial operations. A separate single-story building offers office space or additional conversion potential. The improvements were built in 1980 and include brick construction, central air, and electric heating.
Access is provided via Jurica Road/CR 37, with connections to Saratoga and FM 665, also known as Old Brownsville Road. The property is positioned near transportation routes serving the Port of Corpus Christi and petrochemical plants. Water service is public, and the site uses a septic system. The acreage and existing structures support contractor, service-company, equipment-yard, light-industrial, and work/live applications identified for the property.
Access is provided via Jurica Road/CR 37, with connections to Saratoga and FM 665, also known as Old Brownsville Road. The property is positioned near transportation routes serving the Port of Corpus Christi and petrochemical plants. Water service is public, and the site uses a septic system. The acreage and existing structures support contractor, service-company, equipment-yard, light-industrial, and work/live applications identified for the property.
Key Highlights
- 6.71‑acre site with 6,624 square feet of improvements
- Large garage with five full‑size roll‑up doors
- Two residences: 4 bedrooms and 5 bathrooms in the larger home; 3 bedrooms and 2 bathrooms in the front house
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
$34,670
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
5.98%
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%
$693,400
$693.4K
Cap Rate 7%
$495,286
$495.3K
Cap Rate 9%
$385,222
$385.2K
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
$53.3K $8.04/SF
− Vacancy
−$3.7K −$0.56/SF
EGI
$49.5K $7.48/SF
− OpEx
−$14.9K −$2.24/SF
NOI
$34.7K $5.23/SF
Area
Corpus Christi, TX
Vacancy
7.00%
Lease Rate
$8.04 /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%
$693,400
Cap Rate 7%
$495,286
Cap Rate 9%
$385,222
Alternative Uses
Best Use
Flex RnD
$996.4K
$871.9K – $1.16M
NOI $69,751 @ 7.0% cap · market cap 12.03%
Second Best
Mixed Use
$958.1K
$838.4K – $1.12M
NOI $67,068 @ 7.0% cap · market cap 11.56%
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
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Expansive site with multiple structures, residential improvements, office potential, and equipment-oriented utility.
Where is this mixed-use property 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 site with 6,624 square feet of improvements; Large garage with five full‑size roll‑up doors; Two residences: 4 bedrooms and 5 bathrooms in the larger home; 3 bedrooms and 2 bathrooms in the front house
