Flex Space with Adjacent
For Sale
$359,900
5125 Carroll, Corpus Christi, TX 78415
CommercialSale, Corpus Christi, TX
Property Size2,600 SF
Lot Size0.36 Acres
Price / SF$137.05
Days on Market9
Property Features for 5125 Carroll
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Lexington Plaza Annex A
Lot features
Interior Lot
Standard status
Active
APN
444000020050
Size
2,626 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
LEXINGTON PLAZA ANNEX A BLK 2 LOT 5 and LEXINGTON PLAZA ANNEX A LT 6 BK 2
Legal Description
LEXINGTON PLAZA ANNEX A BLK 2 LOT 5 and LEXINGTON PLAZA ANNEX A LT 6 BK 2
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Listing Agency:
ValTex Realty
(361) 765-9711
Listed By:
David Oliveira · License #0448849
(361) 537-9577
Added: Aug 31
Changed: Sep 4
Last Checked: Sep 8 at 7:06AM
MLS# 481063
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 flex-space property includes a commercial building constructed in 1976 and an adjoining vacant parcel. The building was previously operated for printing services and is served by central air conditioning and electric, central heating. Public water and public sewer serve the property.
The improved parcel encompasses approximately 0.19 acres, while the adjacent vacant lot adds approximately 0.17 acres. Together, the two parcels total approximately 0.36 acres, creating a combined commercial property with both an existing building and additional land. The property is located in Corpus Christi, Texas, in Nueces County.
The improved parcel encompasses approximately 0.19 acres, while the adjacent vacant lot adds approximately 0.17 acres. Together, the two parcels total approximately 0.36 acres, creating a combined commercial property with both an existing building and additional land. The property is located in Corpus Christi, Texas, in Nueces County.
Key Highlights
- Approximately 0.36 acres across the combined property
- Commercial building constructed in 1976
- Adjacent vacant lot of approximately 0.17 acres
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
$18,844
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
5.24%
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%
$376,880
$376.9K
Cap Rate 7%
$269,200
$269.2K
Cap Rate 9%
$209,378
$209.4K
Market Conditions
NOI Build-Up for 2,626 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
$31.5K $12.00/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$29.0K $11.04/SF
− OpEx
−$10.1K −$3.86/SF
NOI
$18.8K $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%
$376,880
Cap Rate 7%
$269,200
Cap Rate 9%
$209,378
Alternative Uses
Best Use
Flex RnD
$269.2K
$235.6K – $314.1K
NOI $18,844 @ 7.0% cap · market cap 5.24%
Second Best
Industrial
$249.1K
$218.0K – $290.6K
NOI $17,437 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$624.8K
$546.7K – $729.0K
NOI $43,739 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
666
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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Similar Off Market Nearby
- Twisted Treats — 5009 Kostoryz Rd, Corpus Christi, TX 78415
Frequently Asked Questions
What type of property is this?
Flex space - A 1976 commercial building offers central heating and cooling with public water and sewer.
Where is this flex space located?
The property is located at 5125 Carroll Corpus Christi, TX.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Approximately 0.36 acres across the combined property; Commercial building constructed in 1976; Adjacent vacant lot of approximately 0.17 acres
