Flex Space with Warehouse
For Sale
$1,200,000
4243 S Port Ave, Corpus Christi, TX 78415
Multi-use commercial property combines open interior space with dedicated office areas.
Property Size10,716 SF
Price / SF$111.98
Days on Market10
Property Features for 4243 S Port Ave
General Information
Standard status
Active
Size
10,716 SF
Property subtype
Industrial
Building Details
Building Size
10,716 SF
Year Built
1947
Listing Agency:
Cravey Real Estate Services, Inc.
(361) 944-4179
Listed By:
John Foret · License #TX #748161
(361) 944-4179
Source:
Craveyrealestate
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 31 at 2:54PM
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 Cravey Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This 10,716-square-foot flex property provides a multi-use configuration with an open floor plan, warehouse storage, and office areas. The layout supports a range of commercial applications while preserving flexibility between work, storage, and customer-facing functions.
Located at 4243 S Port Ave in Corpus Christi, the property is positioned in a high-volume traffic area with strong visibility. The space is identified as suitable for retail, wholesale, entertainment, and specialty commercial uses.
Located at 4243 S Port Ave in Corpus Christi, the property is positioned in a high-volume traffic area with strong visibility. The space is identified as suitable for retail, wholesale, entertainment, and specialty commercial uses.
Key Highlights
- 10,716 SF of multi‑use commercial space
- Open floor plan supports flexible configuration
- Warehouse storage areas included
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
$76,898
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
6.41%
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%
$1,537,960
$1.5M
Cap Rate 7%
$1,098,543
$1.1M
Cap Rate 9%
$854,422
$854.4K
Market Conditions
NOI Build-Up for 10,716 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
$128.6K $12.00/SF
− Vacancy
−$10.3K −$0.96/SF
EGI
$118.3K $11.04/SF
− OpEx
−$41.4K −$3.86/SF
NOI
$76.9K $7.18/SF
Area
ZIP 78415
Vacancy
8.00%
Lease Rate
$12.00 /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%
$1,537,960
Cap Rate 7%
$1,098,543
Cap Rate 9%
$854,422
Alternative Uses
Best Use
Flex RnD
$1.10M
$961.2K – $1.28M
NOI $76,898 @ 7.0% cap · market cap 6.41%
Second Best
Warehouse
$1.09M
$958.1K – $1.28M
NOI $76,649 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,486 @ 7.0% cap · market cap 14.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78415, TX
38,722
Population
15,465
Households
2.5
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
109.2 sq mi
ZIP Area
355
Density / Sq Mi
$53,803
Median Household Income
$31,748
Median Earnings
$1,166
Median Rent
$135,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-use commercial property combines open interior space with dedicated office areas.
Where is this flex space located?
The property is located at 4243 S Port Ave 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: 10,716 SF of multi‑use commercial space; Open floor plan supports flexible configuration; Warehouse storage areas included
