Two-Story Bar with Rooftop
For Sale
Contact for pricing
326 N Chaparral St, Corpus Christi, TX 78401
Former bar and restaurant with a turnkey restaurant buildout and rooftop patio on a downtown hard-corner location.
Property Size13,483 SF
Price / SF$263.29
Days on Market180
Property Features for 326 N Chaparral St
General Information
Standard status
Active
Size
13,483 SF
Class
B
Property subtype
Office, Retail
Zoning
B-6
Amenities
rooftop patio
Building Details
Buildings
2
Stories
2
Tenancy
Multi
Listing Agency:
DH Realty Partners
(361) 929-5003
Listed By:
James Magill · License #TX 675040
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 11 at 8:10AM
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 DH Realty Partners
Investment Insights
Based on property information with market context.
A beautifully remodeled, two-story former bar and restaurant totaling approximately 12,483 SF. The main bar area is approximately 7,360 SF and is complemented by a rooftop patio of approximately 2,500 SF. The restaurant component totals approximately 2,500 SF and is described as fully built out and turnkey.
The property sits on the hard corner of Chaparral Street and Lawrence Street, both recently improved as part of downtown revitalization efforts. It is directly across from the new Cosmopolitan Apartments and is adjacent to Water Street Oyster Bar and Executive Surf Club, supporting visibility in a growing downtown dining and entertainment area.
The offering also qualifies for the Downtown Management District’s Revitalization Incentive Program. A package option includes an adjacent value-add property at 322 N Chaparral St., operating as a storage facility, with the opportunity to be included alongside 326 N Chaparral St. Current income is approximately $25,000 per month at 326 N Chaparral St. (Retro tenant may remain in place, vacate, or the buyer may assume operations) and approximately $1,450 per month at 322 N Chaparral St. The listing also notes an option to include all FF&E and the business.
The property sits on the hard corner of Chaparral Street and Lawrence Street, both recently improved as part of downtown revitalization efforts. It is directly across from the new Cosmopolitan Apartments and is adjacent to Water Street Oyster Bar and Executive Surf Club, supporting visibility in a growing downtown dining and entertainment area.
The offering also qualifies for the Downtown Management District’s Revitalization Incentive Program. A package option includes an adjacent value-add property at 322 N Chaparral St., operating as a storage facility, with the opportunity to be included alongside 326 N Chaparral St. Current income is approximately $25,000 per month at 326 N Chaparral St. (Retro tenant may remain in place, vacate, or the buyer may assume operations) and approximately $1,450 per month at 322 N Chaparral St. The listing also notes an option to include all FF&E and the business.
Key Highlights
- 12,483 SF former bar and restaurant on the hard corner of Chaparral St. and Lawrence St. in downtown Corpus Christi
- Main bar area approx. 7,360 SF plus 2,500 SF rooftop patio with views of the city skyline, Water St., and Ocean Dr.
- Restaurant component approx. 2,500 SF is fully built out and described as turnkey
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
$174,740
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
4.92%
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%
$3,494,800
$3.5M
Cap Rate 7%
$2,496,286
$2.5M
Cap Rate 9%
$1,941,556
$1.9M
Market Conditions
NOI Build-Up for 13,483 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
$242.7K $18.00/SF
− Vacancy
−$9.7K −$0.72/SF
EGI
$233.0K $17.28/SF
− OpEx
−$58.2K −$4.32/SF
NOI
$174.7K $12.96/SF
Area
Corpus Christi, TX
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$3,494,800
Cap Rate 7%
$2,496,286
Cap Rate 9%
$1,941,556
Alternative Uses
Best Use
Specialty Retail
$2.50M
$2.18M – $2.91M
NOI $174,740 @ 7.0% cap · market cap 4.92%
Second Best
Industrial
$1.01M
$882.1K – $1.18M
NOI $70,571 @ 7.0% cap · market cap 1.99%
Theoretical Best
Office A
$3.21M
$2.81M – $3.74M
NOI $224,573 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78401, TX
4,701
Population
2,115
Households
2.2
Avg Household Size
44
Median Age
15%
College-Educated
78%
High-School Grad
2.2 sq mi
ZIP Area
2,137
Density / Sq Mi
$37,796
Median Household Income
$22,254
Median Earnings
$930
Median Rent
$76,100
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?
Conventional restaurant - Former bar and restaurant with a turnkey restaurant buildout and rooftop patio on a downtown hard-corner location.
Where is this conventional restaurant located?
The property is located at 326 N Chaparral St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: 12,483 SF former bar and restaurant on the hard corner of Chaparral St. and Lawrence St. in downtown Corpus Christi; Main bar area approx. 7,360 SF plus 2,500 SF rooftop patio with views of the city skyline, Water St., and Ocean Dr.; Restaurant component approx. 2,500 SF is fully built out and described as turnkey
