Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lot 4 West Carolyn Drive South Padre Island, TX 78597

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $399,000

    Prime lot for multi-family development in South Padre Island.

    Type:Land / Commercial
    Property size:
    12,502 SF
    Lot size:
    0.29 Acres
    Added:
    Jul 19, 2025
    Days on Market:
    274
    Last Refresh:
    Mar 13 at 3:19 pm

    Property Features for Lot 4 West Carolyn Drive

    General Information

    Standard status
    Active
    Size
    12,502 SF
    Lot size
    0.29 Acres
    Property subtype
    Land / Commercial

    We can help!

    Listing Contact
    Robert Bruno Macias

    Listing agent Robert Bruno Macias

    Listing office Coldwell Banker La Mansion

    Listing date Jul 19, 2025

    Source Compass

    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 Coldwell Banker La Mansion

    Overview

    South Padre Island Development Opportunity

    This is a development opportunity for multi-family property on South Padre Island. The centrally located lot spans over 12,500 square feet. Its size can accommodate a multi-unit building. The location is near hotels, restaurants, and attractions. This lot is a chance to meet the demand for high-end multi-family housing on South Padre Island.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Real Estate Agency Nail Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    South Padre Island
    County
    Cameron
    State
    Texas
    Longitude
    -97.168589
    Latitude
    26.1259

    Nearby Similar for Sale

    • $777,000
      3,225 SF

      Prime Padre Boulevard Commercial Property

      Versatile commercial building in a desirable location with high visibility.
      3812 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $795,000
      3,503 SF

      South Padre Island Triplex

      Two-story triplex near beach, bay, and entertainment district.
      201 Hibiscus St., South Padre Island, TX 78597
      View Details
    • $1,200,000
      1,867 SF

      Coastal Commercial Property on Padre Blvd

      Iconic commercial property on South Padre Island, ideal for retail.
      5717 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $985,000
      3,883 SF

      South Padre Island Tri-Plex

      Tri-plex near the beach with pool and hot tub.
      125 Huisache St., South Padre Island, TX 78597
      View Details
    • $995,000
      5,240 SF

      South Padre Island Four-Plex

      Four-unit complex ready for immediate rental income in South Padre.
      110 Retama St., South Padre Island, TX 78597
      View Details
    • $1,880,000
      3,886 SF

      Prime Padre Boulevard Investment Opportunity

      Rare investment property with development potential on South Padre Island.
      5712 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $499,000

      South Padre Island Development Opportunity

      Two side-by-side lots zoned for mixed-use development.
      0 Campeche St., South Padre Island, TX 78597
      View Details
    • $645,000
      2,625 SF

      South Padre Island Duplex

      Duplex near the beach with potential for rental income.
      129 E Gardenia Street, South Padre Island, TX 78597
      View Details
    • $630,000

      Prime Commercial Padre Blvd Frontage

      Commercial lots on South Padre Island's main boulevard.
      6001 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $2,500,000
      5,230 SF

      Island Market Retail Shopping Center

      Retail shopping center with four businesses and two food trucks.
      5312 Padre Blvd., South Padre Island, TX 78597
      View Details
    • $2,550,000
      5,780 SF

      South Padre Island Hotel/Motel

      Hotel/Motel with remodeled rooms and apartments near the beach.
      120 Jupiter Lane, South Padre Island, TX 78597
      View Details
    • $599,900
      1,368 SF

      Charming South Padre Island Duplex

      Furnished duplex on South Padre Island, ideal for rentals.
      210 W Gardenia Street, South Padre Island, TX 78597
      View Details

    FAQs

    What type of property is this?
    Commercial land - Prime lot for multi-family development in South Padre Island.
    Where is this commercial land located?
    The property is located at Lot 4 West Carolyn Drive South Padre Island, TX.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Rare multi‑family development opportunity on South Padre Island.; Centrally located lot spanning over 12,500 square feet.; Ideal for building luxury residences.
    (951) 367-7025
    We can help!
    Listing Contact
    Robert Bruno Macias
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!