Remodeled Waterfront
For Sale
$1,200,000
4242 Laguna Shores, Corpus Christi, TX 78418
Covered deck overlooks the Intracoastal Waterway and supports outdoor dining.
Property Size3,000 SF
Price / SF$400
Days on Market36
Property Features for 4242 Laguna Shores
General Information
Standard status
Active
Size
3,000 SF
Additional Details
Patio
Yes
Building Details
Year Built
2005
Listing Agency:
Mirabal Montalvo & Associates
(361) 765-1725
Listed By:
Chris Montalvo · License #0528565
Source:
Thebranchinc
Added: Jul 28
Changed: Aug 29
Last Checked: Aug 31 at 6:43PM
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 Mirabal Montalvo & Associates
Investment Insights
Based on property information with market context.
This conventional restaurant was built in 2005 and has been remodeled for continued daily service. The interior includes updated dining space, large windows, and multiple seating areas that bring natural light into the operation while maintaining views of the waterfront. A covered outdoor deck extends the seating capacity and provides a separate setting for guests overlooking the Intracoastal Waterway.
The property is located at 4242 Laguna Shores in Corpus Christi, Texas. Its indoor and outdoor configuration supports regular restaurant service as well as private events, parties, and other reserved gatherings. Passing boats and the direct waterfront setting add a distinctive coastal backdrop for dining and functions.
The property is located at 4242 Laguna Shores in Corpus Christi, Texas. Its indoor and outdoor configuration supports regular restaurant service as well as private events, parties, and other reserved gatherings. Passing boats and the direct waterfront setting add a distinctive coastal backdrop for dining and functions.
Key Highlights
- Directly positioned on the Intracoastal Waterway
- Remodeled interior dining area with large windows
- Covered outdoor deck overlooking the water
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
$39,960
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
3.33%
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%
$799,200
$799.2K
Cap Rate 7%
$570,857
$570.9K
Cap Rate 9%
$444,000
$444.0K
Market Conditions
NOI Build-Up for 3,000 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
$57.6K $19.20/SF
− Vacancy
−$4.3K −$1.44/SF
EGI
$53.3K $17.76/SF
− OpEx
−$13.3K −$4.44/SF
NOI
$40.0K $13.32/SF
Area
ZIP 78418
Vacancy
7.50%
Lease Rate
$19.20 /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%
$799,200
Cap Rate 7%
$570,857
Cap Rate 9%
$444,000
Alternative Uses
Best Use
Specialty Retail
$570.9K
$499.5K – $666.0K
NOI $39,960 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,278 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
45
Businesses Nearby
Balanced
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Covered deck overlooks the Intracoastal Waterway and supports outdoor dining.
Where is this conventional restaurant located?
The property is located at 4242 Laguna Shores Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Directly positioned on the Intracoastal Waterway; Remodeled interior dining area with large windows; Covered outdoor deck overlooking the water
