Light Industrial Warehouse with Roll-Up
For Sale
$250,000
402406410 Nas Drive, Corpus Christi, TX 78418
Light industrial zoning, corner positioning, and direct vehicle access define the property.
Property Size1,500 SF
Lot Size0.50 Acres
Price / SF$166.67
Days on Market13
Property Features for 402406410 Nas Drive
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.50 Acres
Property subtype
Industrial
Zoning
Light Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
light industrial, commercial, industrial
Amenities
Corner Lot.
Asphalt, Concrete Driveway.
Corner.
Building Details
Year Built
2023
Buildings
1
Stories
1
Building Size
1,500 SF
Construction
metal building
Listing Agency:
Mr. Real Estate & Associates
(361) 945-5580
Listed By:
Cliff Zarbock · License #0615874
(361) 945-5580
Source:
Xome
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 11 at 5:26AM
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 Mr. Real Estate & Associates
Investment Insights
Based on property information with market context.
This light industrial property combines three separate lots totaling approximately 0.50 acres with a 1,500 SF metal warehouse. Constructed in 2023, the building measures 30' x 50' and has 12-foot sidewalls, two 10-foot roll-up doors, and a standard side-entry door. Asphalt and concrete driveway surfaces provide on-site vehicle access.
The property is located at 402406410 Nas Drive in Corpus Christi, on a corner lot with access to S. Padre Island Drive (SPID). Naval Air Station Corpus Christi is minutes away. The site’s light industrial zoning and multi-lot configuration support warehouse, storage, contractor, and service-business applications subject to applicable regulations.
The property is located at 402406410 Nas Drive in Corpus Christi, on a corner lot with access to S. Padre Island Drive (SPID). Naval Air Station Corpus Christi is minutes away. The site’s light industrial zoning and multi-lot configuration support warehouse, storage, contractor, and service-business applications subject to applicable regulations.
Key Highlights
- Three individual light industrial‑zoned lots totaling approximately 0.50 acres
- 1,500 SF metal building constructed in 2023
- Building measures 30' x 50' with 12‑foot sidewalls
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
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
506
Businesses Nearby
Well-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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Light industrial zoning, corner positioning, and direct vehicle access define the property.
Where is this warehouse located?
The property is located at 402406410 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: Three individual light industrial‑zoned lots totaling approximately 0.50 acres; 1,500 SF metal building constructed in 2023; Building measures 30' x 50' with 12‑foot sidewalls
