Built-Out Office
For Sale
$250,000
4600 Ocean Drive #101, Corpus Christi, TX 78412
Dual commercial and residential zoning supports flexible property use.
Property Size1,696 SF
Price / SF$147.41
Days on Market33
Property Features for 4600 Ocean Drive #101
General Information
Standard status
Active
Size
1,696 SF
Property subtype
Commercial
Amenities
pool
gym
event space
Building Details
Year Built
1963
Listing Agency:
Keller Williams Coastal Bend
Listed By:
Will Storbeck · License #0722582
(361) 249-4770
Source:
Kmrealestate
Added: Aug 3
Changed: Sep 3
Last Checked: Sep 2 at 1:50PM
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 Keller Williams Coastal Bend
Investment Insights
Based on property information with market context.
Office Unit 101 in the 4600 Building offers a built-out configuration with two front rooms arranged for reception and waiting functions, two larger rear rooms suitable for conferences, three additional offices, a kitchenette-style pantry, and two full bathrooms with showers. The property was built in 1963 and carries dual commercial and residential zoning, supporting use under either designation or a combination of both.
Ownership includes access to a pool, gym, and event room that can be reserved for private use. Exterior maintenance is covered through the HOA. The property is located at 4600 Ocean Dr in Corpus Christi, Texas.
Ownership includes access to a pool, gym, and event room that can be reserved for private use. Exterior maintenance is covered through the HOA. The property is located at 4600 Ocean Dr in Corpus Christi, Texas.
Key Highlights
- Built‑out office layout with reception and waiting areas
- Two large rear rooms configured for conference use
- Three hallway offices plus kitchenette‑style pantry
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
$21,278
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
8.51%
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%
$425,560
$425.6K
Cap Rate 7%
$303,971
$304.0K
Cap Rate 9%
$236,422
$236.4K
Market Conditions
NOI Build-Up for 1,696 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
$34.6K $20.40/SF
− Vacancy
−$6.2K −$3.67/SF
EGI
$28.4K $16.73/SF
− OpEx
−$7.1K −$4.18/SF
NOI
$21.3K $12.55/SF
Area
ZIP 78412
Vacancy
18.00%
Lease Rate
$20.40 /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%
$425,560
Cap Rate 7%
$303,971
Cap Rate 9%
$236,422
Alternative Uses
Best Use
Office B
$304.0K
$266.0K – $354.6K
NOI $21,278 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$415.2K
$363.3K – $484.4K
NOI $29,063 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 78412, TX
38,783
Population
16,874
Households
2.3
Avg Household Size
33
Median Age
31%
College-Educated
91%
High-School Grad
8.6 sq mi
ZIP Area
4,510
Density / Sq Mi
$60,509
Median Household Income
$32,154
Median Earnings
$1,242
Median Rent
$188,500
Median Home Value
Market
Vacancy Rate% for Office 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?
Office units - Dual commercial and residential zoning supports flexible property use.
Where is this office units located?
The property is located at 4600 Ocean Drive #101 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: Built‑out office layout with reception and waiting areas; Two large rear rooms configured for conference use; Three hallway offices plus kitchenette‑style pantry
