Multi-Building Flex and
For Sale
$1,690,000
5502 Burnham Dr, Corpus Christi, TX 78413
Multi-building commercial property with office, service, and flex suitability, including anchor and salon tenants plus owner-occupied space.
Property Size12,100 SF
Lot Size0.95 Acres
Price / SF$139.67
Days on Market161
Property Features for 5502 Burnham Dr
General Information
Standard status
Active
Size
12,100 SF
Lot size
0.95 Acres
Building Details
Tenancy
Multi
Listing Agency:
Corpus Christi Realty Group
(361) 992-8400
Listed By:
Brian Mandel · License #0653616
(361) 658-6433
Source:
Exprealty
Added: Mar 26
Changed: Aug 25
Last Checked: Sep 1 at 9:27PM
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 Corpus Christi Realty Group
Investment Insights
Based on property information with market context.
This multi-building commercial property totals 12,100 SF on 0.95 acres and was built in phases between 1997 and 2004. The offering includes an established anchor tenant, The Pooch Pad, occupying approximately 6,000 SF, and an additional 1,500 SF salon tenant. About 4,600 SF is currently owner-occupied, providing flexibility for a buyer to either continue occupancy or lease the space for additional income.
The layout is described as suitable for office, service, and flex uses, and the property includes ample parking to support day-to-day operations.
Overall, the mix of tenant occupancy and owner-occupied space within a modern, multi-building configuration creates a practical platform for buyers seeking a combination of existing occupancy and space that can be leased.
The layout is described as suitable for office, service, and flex uses, and the property includes ample parking to support day-to-day operations.
Overall, the mix of tenant occupancy and owner-occupied space within a modern, multi-building configuration creates a practical platform for buyers seeking a combination of existing occupancy and space that can be leased.
Key Highlights
- 12,100 SF multi‑building commercial property on 0.95 acres
- Anchor tenant The Pooch Pad occupies approximately 6,000 SF
- Additional tenant: 1,500 SF salon tenant
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 commercial property with office, service, and flex suitability, including anchor and salon tenants plus owner-occupied space.
Where is this flex space located?
The property is located at 5502 Burnham Dr 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 commercial property on 0.95 acres; Anchor tenant The Pooch Pad occupies approximately 6,000 SF; Additional tenant: 1,500 SF salon tenant
