Flex Space with Storage
For Sale
$850,000
5918 S Staples Street, Corpus Christi, TX 78413
CommercialSale, Corpus Christi, TX
Property Size6,603 SF
Lot Size0.97 Acres
Price / SF$128.73
Days on Market188
Property Features for 5918 S Staples Street
General Information
Property type
Commercial Sale
Property subtype
Office
Subdivision
Garvin
Lot features
Interior Lot
Standard status
Active
APN
275500010040
Size
6,603 SF
Lot size
0.97 Acres
Taxes and HOA fees
Tax Description
GARVIN LT 4 BK 1
Legal Description
GARVIN LT 4 BK 1
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Window Unit(s)
Water source
Public
Building Details
Year built
1989
Floors in Building
1
Listing Agency:
Coldwell Banker Pacesetter Steel · Coldwell Banker Real Estate
(361) 992-9231
Listed By:
Doug Nichols · License #0747730
(361) 739-2251
Added: Feb 24
Changed: Aug 19
Last Checked: Aug 31 at 10:06PM
MLS# 472185
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 on S Staples Street is currently operating as a boat repair and storage facility. The site includes a metal building with office space, a residential home, and a large storage yard suitable for equipment storage, fleet parking, or laydown use. With Central heating fueled by natural gas and cooling that includes window units and central air, the improvements support everyday operations while also leaving room for future redevelopment.
Set on a 0.97-acre lot, the property is positioned on one of Corpus Christi’s busiest thoroughfares on Staples Street between Holly and Wooldridge. It is located approximately one mile from South Padre Island Drive (SPID / TX-358), providing strong visibility and accessibility for commercial users.
Built in 1989, the property is served by public water and public sewer, supporting a range of site-based uses.
Set on a 0.97-acre lot, the property is positioned on one of Corpus Christi’s busiest thoroughfares on Staples Street between Holly and Wooldridge. It is located approximately one mile from South Padre Island Drive (SPID / TX-358), providing strong visibility and accessibility for commercial users.
Built in 1989, the property is served by public water and public sewer, supporting a range of site-based uses.
Key Highlights
- 0.97‑acre flex space site at 5918 S Staples Street between Holly and Wooldridge
- Currently used as a boat repair and storage facility
- Metal building with office space plus a residential home
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
$47,383
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
5.57%
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%
$947,660
$947.7K
Cap Rate 7%
$676,900
$676.9K
Cap Rate 9%
$526,478
$526.5K
Market Conditions
NOI Build-Up for 6,603 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
$79.2K $12.00/SF
− Vacancy
−$6.3K −$0.96/SF
EGI
$72.9K $11.04/SF
− OpEx
−$25.5K −$3.86/SF
NOI
$47.4K $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%
$947,660
Cap Rate 7%
$676,900
Cap Rate 9%
$526,478
Alternative Uses
Best Use
Flex RnD
$676.9K
$592.3K – $789.7K
NOI $47,383 @ 7.0% cap · market cap 5.57%
Second Best
Industrial
$561.6K
$491.4K – $655.2K
NOI $39,311 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$2.51M
$2.19M – $2.92M
NOI $175,417 @ 7.0% cap · market cap 20.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,481
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Luby's — 5730 Saratoga Blvd, Corpus Christi, TX 78414
- Firehouse Subs Saratoga Town Center — 6418 S Staples St Ste 140, Corpus Christi, TX 78413
- JT Late Night Grub — 5914 Flagstaff Dr, Corpus Christi, TX 78414
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with boat repair and storage use, a metal building with office space, and a large storage yard.
Where is this flex space located?
The property is located at 5918 S Staples Street Corpus Christi, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 0.97‑acre flex space site at 5918 S Staples Street between Holly and Wooldridge; Currently used as a boat repair and storage facility; Metal building with office space plus a residential home
