Light Industrial Flex
For Sale
$250,000
Pending
402 406 410 Nas Drive, Corpus Christi, TX 78418
COMMERCIAL - Corpus Christi, TX
Property Size1,500 SF
Lot Size0.53 Acres
Days on Market29
Property Features for 402 406 410 Nas Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Naval Center
Lot features
Corner Lot
Standard status
Pending
APN
562300020010
Size
1,500 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Description
NAVAL CENTER UNDIV INT IN BLK 2 LOT 1, 2 & 3
Legal Description
NAVAL CENTER UNDIV INT IN BLK 2 LOT 1, 2 & 3
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Listing Agency:
Mr. Real Estate & Associates
(361) 945-5580
Listed By:
Cliff Zarbock · License #0615874
(361) 945-5580
Added: Aug 4
Changed: Aug 10
Last Checked: Sep 1 at 7:06AM
MLS# 480368
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 flex-space property includes a 1,500-square-foot metal building completed in 2023. The 30-by-50-foot structure has 12-foot sidewalls, two 10-foot roll-up doors, and a separate standard entry door. The offering also includes three individual lots with light industrial zoning, creating a functional commercial setting for uses such as a contractor shop, warehouse, service operation, or storage, subject to applicable regulations.
Located at 402, 406, and 410 Nas Drive in Corpus Christi, the property occupies a high-visibility corner position with access to S. Padre Island Drive. Naval Air Station Corpus Christi is minutes away. Public water and public sewer serve the property, supporting its existing commercial improvements and operational setup.
Located at 402, 406, and 410 Nas Drive in Corpus Christi, the property occupies a high-visibility corner position with access to S. Padre Island Drive. Naval Air Station Corpus Christi is minutes away. Public water and public sewer serve the property, supporting its existing commercial improvements and operational setup.
Key Highlights
- 1,500 SF metal building completed in 2023
- 30' x 50' building with 12‑foot sidewalls
- Two 10‑foot roll‑up doors plus a standard side entry door
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
$14,145
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
5.66%
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%
$282,900
$282.9K
Cap Rate 7%
$202,071
$202.1K
Cap Rate 9%
$157,167
$157.2K
Market Conditions
NOI Build-Up for 1,500 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
$23.4K $15.60/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$21.8K $14.51/SF
− OpEx
−$7.6K −$5.08/SF
NOI
$14.1K $9.43/SF
Area
ZIP 78418
Vacancy
7.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$282,900
Cap Rate 7%
$202,071
Cap Rate 9%
$157,167
Alternative Uses
Best Use
Flex RnD
$202.1K
$176.8K – $235.8K
NOI $14,145 @ 7.0% cap · market cap 5.66%
Second Best
Warehouse
$174.3K
$152.5K – $203.3K
NOI $12,199 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$573.4K
$501.7K – $669.0K
NOI $40,139 @ 7.0% cap · market cap 16.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
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.
Similar Off Market Nearby
- Cclc/corpus Christi Liquor Catering — 1034 McIver St #102, Corpus Christi, TX 78418
Frequently Asked Questions
What type of property is this?
Flex space - Corner-lot facility with light industrial zoning, roll-up access, and public water and sewer.
Where is this flex space located?
The property is located at 402 406 410 Nas Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,500 SF metal building completed in 2023; 30' x 50' building with 12‑foot sidewalls; Two 10‑foot roll‑up doors plus a standard side entry door
