Medical Office
New
For Sale
$1,850,000
4637 S Padre Island Dr, Corpus Christi, TX 78411
Its existing layout has served medical and urgent-care functions.
Property Size5,192 SF
Lot Size1.15 Acres
Price / SF$356.32
Days on Market6
Property Features for 4637 S Padre Island Dr
General Information
Standard status
Active
Size
5,192 SF
Class
B
Lot size
1.15 Acres
Property subtype
Office
Building Details
Building Size
5,192 SF
Year Built
1978
Listed By:
Matthew Cravey, SIOR, CCIM · License #TX #203443
(361) 877-2463
Source:
Craveyrealestate
Added: Oct 7
Changed: Oct 9
Last Checked: Oct 12 at 5:16PM
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 Matthew Cravey, SIOR, CCIM
Investment Insights
Based on property information with market context.
The 5,192-square-foot property sits on 1.15 acres along S Padre Island Drive in Corpus Christi. Built in 1978, the building was first used as a restaurant and later served as a medical and urgent-care facility. Its existing layout offers a basis for medical, professional office, service, or other commercial uses.
Key Highlights
- 5,192 square feet of medical and office space
- Site spans 1.15 acres
- Built in 1978
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,388
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,487,760
$1.5M
Cap Rate 7%
$1,062,686
$1.1M
Cap Rate 9%
$826,533
$826.5K
Market Conditions
NOI Build-Up for 5,192 SF
Gross rent
$116.5K $22.44/SF
− Vacancy
−$17.3K −$3.34/SF
EGI
$99.2K $19.10/SF
− OpEx
−$24.8K −$4.78/SF
NOI
$74.4K $14.33/SF
Area
Corpus Christi, TX
Vacancy
14.87%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,487,760
Cap Rate 7%
$1,062,686
Cap Rate 9%
$826,533
Alternative Uses
Best Use
Office B
$1.06M
$929.9K – $1.24M
NOI $74,388 @ 7.0% cap · market cap 4.02%
Second Best
Healthcare Medical
$865.1K
$757.0K – $1.01M
NOI $60,559 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$1.24M
$1.08M – $1.44M
NOI $86,478 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
1,620
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 78411, TX
26,150
Population
10,497
Households
2.5
Avg Household Size
40
Median Age
25%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,287
Density / Sq Mi
$60,387
Median Household Income
$31,756
Median Earnings
$1,199
Median Rent
$178,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Its existing layout has served medical and urgent-care functions.
Where is this medical office space located?
The property is located at 4637 S Padre Island Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 5,192 square feet of medical and office space; Site spans 1.15 acres; Built in 1978
