Corpus Christi Flex Space
For Sale
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301 44th St, Corpus Christi, TX 78405
34,835 SF industrial building subdivided into flex space units.
Property Size34,835 SF
Price / SF$80.38
Days on Market191
Property Features for 301 44th St
General Information
Standard status
Active
Size
34,835 SF
Total Parking Spaces
25
Property subtype
Industrial, Mixed Use
Zoning
Industrial
Investment Type
Value Add
Building Details
Year Built
1989
Listing Agency:
Alamo Commercial Real Estate
(210) 504-2969
Listed By:
Evan Jacobson · License #TX 610659
Source:
Crexi
Added: Feb 5
Changed: Aug 14
Last Checked: Aug 14 at 7:25AM
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 Alamo Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in Corpus Christi, Texas, this property features a 34,835 square foot industrial building constructed in 1989. Zoned for industrial use, the property is being subdivided into smaller flex space units, with units as small as 2,673 square feet available. The units can be delivered with a mixture of office and warehouse space. Layout options are available to meet specific needs. This property is suitable for a range of industrial and flex space applications.
Key Highlights
- Large 34,835 sq ft building suitable for industrial or flex space.
- Located in the thriving Corpus Christi, Texas area.
- Zoned for industrial 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
$182,328
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
6.51%
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%
$3,646,560
$3.6M
Cap Rate 7%
$2,604,686
$2.6M
Cap Rate 9%
$2,025,867
$2.0M
Market Conditions
NOI Build-Up for 34,835 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
$280.1K $8.04/SF
− Vacancy
−$19.6K −$0.56/SF
EGI
$260.5K $7.48/SF
− OpEx
−$78.1K −$2.24/SF
NOI
$182.3K $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%
$3,646,560
Cap Rate 7%
$2,604,686
Cap Rate 9%
$2,025,867
Alternative Uses
Best Use
Flex RnD
$5.24M
$4.59M – $6.11M
NOI $366,813 @ 7.0% cap · market cap 13.10%
Second Best
Industrial
$2.60M
$2.28M – $3.04M
NOI $182,328 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$8.29M
$7.25M – $9.67M
NOI $580,212 @ 7.0% cap · market cap 20.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78405, TX
14,151
Population
6,068
Households
2.3
Avg Household Size
37
Median Age
4%
College-Educated
62%
High-School Grad
5.1 sq mi
ZIP Area
2,775
Density / Sq Mi
$37,188
Median Household Income
$25,323
Median Earnings
$1,030
Median Rent
$75,300
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 - 34,835 SF industrial building subdivided into flex space units.
Where is this flex space located?
The property is located at 301 44th St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Large 34,835 sq ft building suitable for industrial or flex space.; Located in the thriving Corpus Christi, Texas area.; Zoned for industrial use.
