Waterfront RV Site with Full
For Sale
$239,000
50-101 Caribbean Dr, Corpus Christi, TX 78418
Waterfront RV site with utility connections, outdoor improvements, and access to resort amenities and coastal recreation.
Property Size1,950 SF
Price / SF$122.56
Days on Market8
Property Features for 50-101 Caribbean Dr
General Information
Standard status
Active
Size
1,950 SF
Property subtype
Land
Listing Agency:
RE/MAX ELITE
(361) 777-7653
Listed By:
Michelle Sanchez · License #0740246
(361) 442-4176
Source:
Exprealty
Added: Sep 11
Changed: Sep 17
Last Checked: Sep 18 at 12:55PM
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 RE/MAX ELITE
Investment Insights
Based on property information with market context.
Unit #50 is a waterfront RV site at Firefly Resort Coastal Bend with 50 feet of space, full hookups offering 20, 30, and 50 amp service, WiFi, and additional parking. The site includes a concrete patio, outdoor seating, picnic table, and built-in barbecue grill. Resort amenities include a pool, clubhouse, game room, bayside tiki pavilion, dog park, playground, laundry facilities, restroom and shower suites, and an onsite store with food and beverages.
Water access is supported by a community boat ramp, boat slips, a fish cleaning station, and a 200-foot fishing pier. Kayak and paddleboard rentals are available. The property is located at 50-101 Caribbean Dr in Corpus Christi, with Downtown Corpus Christi, Mustang Island, and Padre Island within minutes.
Water access is supported by a community boat ramp, boat slips, a fish cleaning station, and a 200-foot fishing pier. Kayak and paddleboard rentals are available. The property is located at 50-101 Caribbean Dr in Corpus Christi, with Downtown Corpus Christi, Mustang Island, and Padre Island within minutes.
Key Highlights
- Waterfront RV site with 50 feet of space
- Full hookups with 20, 30, and 50 amp service
- Concrete patio, outdoor seating, picnic table, and built‑in barbecue grill
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
$15,298
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
6.40%
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%
$305,960
$306.0K
Cap Rate 7%
$218,543
$218.5K
Cap Rate 9%
$169,978
$170.0K
Market Conditions
NOI Build-Up for 1,950 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
$31.8K $16.32/SF
− Vacancy
−$4.0K −$2.06/SF
EGI
$27.8K $14.26/SF
− OpEx
−$12.5K −$6.42/SF
NOI
$15.3K $7.85/SF
Area
ZIP 78418
Vacancy
12.60%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
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%
$305,960
Cap Rate 7%
$218,543
Cap Rate 9%
$169,978
Alternative Uses
Best Use
Apartment 5plus
$218.5K
$191.2K – $255.0K
NOI $15,298 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$745.4K
$652.3K – $869.7K
NOI $52,181 @ 7.0% cap · market cap 21.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
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 Multifamily 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?
Mobile home & RV park - Waterfront RV site with utility connections, outdoor improvements, and access to resort amenities and coastal recreation.
Where is this mobile home & rv park located?
The property is located at 50-101 Caribbean Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: Waterfront RV site with 50 feet of space; Full hookups with 20, 30, and 50 amp service; Concrete patio, outdoor seating, picnic table, and built‑in barbecue grill
