Multi-Building Flex Space with Anchor
For Sale
$1,690,000
5502 Burnham Drive, Corpus Christi, TX 78413
CommercialSale, Corpus Christi, TX
Property Size12,100 SF
Lot Size0.95 Acres
Price / SF$139.67
Days on Market151
Property Features for 5502 Burnham Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Garage
Security features
Security
Accessibility
Accessible Approach with Ramp
Subdivision
Ridgewood #4
Lot features
Subdivided
Standard status
Active
APN
722600020040
Size
12,100 SF
Lot size
0.95 Acres
Taxes and HOA fees
Tax Description
RIDGEWOOD UNIT 4 LTS 3 & 4 BLK 2
Legal Description
RIDGEWOOD UNIT 4 LTS 3 & 4 BLK 2
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2004
Floors in Building
1
Number of units
4
Roof type
Metal
Listing Agency:
Corpus Christi Realty Group
(361) 992-8400
Listed By:
Brian Mandel · License #0653616
(361) 419-9506
Added: Mar 26
Changed: Aug 19
Last Checked: Aug 23 at 5:06AM
MLS# 473853
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.
Multi-building flex space totaling 12,100 SF on 0.95 acres at 5502 Burnham Drive, Corpus Christi, TX 78413. The property includes an established anchor tenant, The Pooch Pad, occupying approximately 6,000 SF, and a 1,500 SF salon tenant. About 4,600 SF is currently owner-occupied, giving buyers the option to continue occupancy or lease additional space. Construction is noted as spanning 1997 and 2004, supporting modern building considerations, and the roof is metal.
The layout is described as suitable for office, service, and flex uses, with utilities and major systems in place. Central air and central electric heating are provided, with public water and public sewer available. Parking features include garage parking, and accessibility is supported by an accessible approach with a ramp.
The property’s mix of leased and owner-occupied space is positioned for flexible operating scenarios for an investor or an owner-operator looking for income alongside usable space.
The layout is described as suitable for office, service, and flex uses, with utilities and major systems in place. Central air and central electric heating are provided, with public water and public sewer available. Parking features include garage parking, and accessibility is supported by an accessible approach with a ramp.
The property’s mix of leased and owner-occupied space is positioned for flexible operating scenarios for an investor or an owner-operator looking for income alongside usable space.
Key Highlights
- 12,100 SF multi‑building flex property on 0.95 acres
- The Pooch Pad anchor tenant occupies approximately 6,000 SF
- 1,500 SF salon tenant space
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
$86,830
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
5.14%
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%
$1,736,600
$1.7M
Cap Rate 7%
$1,240,429
$1.2M
Cap Rate 9%
$964,778
$964.8K
Market Conditions
NOI Build-Up for 12,100 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
$145.2K $12.00/SF
− Vacancy
−$11.6K −$0.96/SF
EGI
$133.6K $11.04/SF
− OpEx
−$46.8K −$3.86/SF
NOI
$86.8K $7.18/SF
Area
ZIP 78413
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%
$1,736,600
Cap Rate 7%
$1,240,429
Cap Rate 9%
$964,778
Alternative Uses
Best Use
Office B
$2.73M
$2.39M – $3.18M
NOI $190,976 @ 7.0% cap · market cap 11.30%
Second Best
Flex RnD
$1.24M
$1.09M – $1.45M
NOI $86,830 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$4.59M
$4.02M – $5.36M
NOI $321,452 @ 7.0% cap · market cap 19.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78413, TX
37,531
Population
15,501
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,751
Density / Sq Mi
$71,624
Median Household Income
$44,342
Median Earnings
$1,321
Median Rent
$230,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-building flex property on 0.95 acres with central air and central electric heat, featuring an anchor tenant plus salon space.
Where is this flex space located?
The property is located at 5502 Burnham Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: 12,100 SF multi‑building flex property on 0.95 acres; The Pooch Pad anchor tenant occupies approximately 6,000 SF; 1,500 SF salon tenant space
