Waterfront Restaurant with Covered
For Sale
$1,200,000
4242 Laguna Shores, Corpus Christi, TX 78418
COMMERCIAL - Corpus Christi, TX
Property Size3,000 SF
Lot Size0.44 Acres
Price / SF$400
Days on Market176
Property Features for 4242 Laguna Shores
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Accessibility
Accessible Approach with Ramp
Subdivision
Bluffs Landing Marina Comm. C
Lot features
Level
View
Water
Standard status
Active
APN
080800000000
Size
3,000 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Description
BLUFF'S LANDING MARINA CONDOMINIUMS COMMERCIAL UNIT PLUS 30.193 % INT IN COM AREA
Legal Description
BLUFF'S LANDING MARINA CONDOMINIUMS COMMERCIAL UNIT PLUS 30.193 % INT IN COM AREA
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Water front
1
Building Details
Year built
2005
Floors in Building
1
Roof type
Flat
Listing Agency:
Mirabal Montalvo & Associates
(361) 994-1140
Listed By:
Chris Montalvo · License #0528565
(361) 765-1725
Added: Mar 10
Changed: Aug 4
Last Checked: Aug 31 at 11:06PM
MLS# 473015
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 remodeled waterfront restaurant is positioned directly on the Intracoastal Waterway and includes interior dining with large windows plus a spacious covered outdoor deck overlooking the water. The layout provides multiple seating areas designed to support everyday dining as well as reserved gatherings and private events.
The property sits on a 0.44-acre lot and is approximately 3,000 square feet, with a flat roof and utilities including public water and public sewer. Heating is electric with central heating, and cooling is central air.
Operational access is supported with an accessible approach featuring a ramp, and the property offers off-street parking for guests.
The property sits on a 0.44-acre lot and is approximately 3,000 square feet, with a flat roof and utilities including public water and public sewer. Heating is electric with central heating, and cooling is central air.
Operational access is supported with an accessible approach featuring a ramp, and the property offers off-street parking for guests.
Key Highlights
- Direct Intracoastal Waterway frontage with waterfront dining views
- Covered outdoor deck for dining and gatherings, plus large indoor windows
- Remodeled restaurant with multiple seating areas for everyday dining and reserved functions
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Remodeled waterfront restaurant with covered outdoor deck, central HVAC, electric heat, and off-street parking.
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: Direct Intracoastal Waterway frontage with waterfront dining views; Covered outdoor deck for dining and gatherings, plus large indoor windows; Remodeled restaurant with multiple seating areas for everyday dining and reserved functions
