Remodeled Mixed-Use Income
For Sale
$595,000
535 Carancahua Street, Corpus Christi, TX 78401
Remodeled mixed-use property with a front house and a leased rear unit totaling 2,746 square feet.
Property Size2,746 SF
Price / SF$216.68
Days on Market258
Property Features for 535 Carancahua Street
General Information
Standard status
Active
Size
2,746 SF
Property subtype
Office
Additional Details
Multifamily Units
2
Amenities
Central Air, Gas
3
Corner Lot.
Concrete Driveway.
Corner.
Building Details
Year Built
1924
Stories
2
Listing Agency:
DH Realty Partners Inc
(361) 425-1112
Listed By:
James Magill · License #675040
(361) 425-1112
Source:
Xome
Added: Dec 14, 2025
Changed: Aug 25
Last Checked: Aug 29 at 7:35AM
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 DH Realty Partners Inc
Investment Insights
Based on property information with market context.
This remodeled mixed-use income property includes a 1,930 SF front house and an 816 SF rear unit. The front residence features 3 bedrooms and 2.5 bathrooms, and the rear unit offers 2 bedrooms and 1 bathroom. The rear home is currently leased, providing in-place rental income.
The property is located along the Carancahua corridor and is described as offering oceanfront water views from the porch. The asset is positioned for flexible use, with the ability to support both residential and limited commercial uses, including multifamily housing, professional office use, small retail or service businesses, and live/work or mixed-use configurations.
With separate front and rear components and an updated interior throughout, the property suits an owner-user or investor looking for a versatile layout with existing occupancy in the rear unit.
The property is located along the Carancahua corridor and is described as offering oceanfront water views from the porch. The asset is positioned for flexible use, with the ability to support both residential and limited commercial uses, including multifamily housing, professional office use, small retail or service businesses, and live/work or mixed-use configurations.
With separate front and rear components and an updated interior throughout, the property suits an owner-user or investor looking for a versatile layout with existing occupancy in the rear unit.
Key Highlights
- Totally remodeled mixed‑use property along the Carancahua corridor with oceanfront water views from the porch
- 2,746 SF total: 1,930 SF front house plus 816 SF rear unit
- Front residence offers 3 bedrooms and 2.5 bathrooms
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
$28,021
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
4.71%
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%
$560,420
$560.4K
Cap Rate 7%
$400,300
$400.3K
Cap Rate 9%
$311,344
$311.3K
Market Conditions
NOI Build-Up for 2,746 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
$45.5K $16.56/SF
− Vacancy
−$5.4K −$1.98/SF
EGI
$40.0K $14.58/SF
− OpEx
−$12.0K −$4.37/SF
NOI
$28.0K $10.20/SF
Area
Corpus Christi, TX
Vacancy
11.97%
Lease Rate
$16.56 /SF/Yr
Expense Ratio
30.00%
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%
$560,420
Cap Rate 7%
$400,300
Cap Rate 9%
$311,344
Alternative Uses
Best Use
Multifamily LT 5
$400.3K
$350.3K – $467.0K
NOI $28,021 @ 7.0% cap · market cap 4.71%
Second Best
Mixed Use
$397.2K
$347.5K – $463.4K
NOI $27,803 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$653.4K
$571.7K – $762.3K
NOI $45,737 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,662
Businesses Nearby
Explore this area
Business Placement
Demographics for 78401, TX
4,701
Population
2,115
Households
2.2
Avg Household Size
44
Median Age
15%
College-Educated
78%
High-School Grad
2.2 sq mi
ZIP Area
2,137
Density / Sq Mi
$37,796
Median Household Income
$22,254
Median Earnings
$930
Median Rent
$76,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Remodeled mixed-use property with a front house and a leased rear unit totaling 2,746 square feet.
Where is this duplex located?
The property is located at 535 Carancahua Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Totally remodeled mixed‑use property along the Carancahua corridor with oceanfront water views from the porch; 2,746 SF total: 1,930 SF front house plus 816 SF rear unit; Front residence offers 3 bedrooms and 2.5 bathrooms
