Turn-Key Restaurant with
For Sale
$339,000
602 Nas Dr, Corpus Christi, TX 78418
A fully built-out restaurant with commercial kitchen equipment, dining area, and ADA-compliant restrooms, ready for occupancy.
Property Size1,938 SF
Price / SF$174.92
Days on Market129
Property Features for 602 Nas Dr
General Information
Standard status
Active
Size
1,938 SF
Restaurant
Commercial Hood
Yes
Grease Trap
Yes
Additional Details
Furnished
Yes
Listing Agency:
Keller Williams Coastal Bend
(361) 249-4770
Listed By:
Will Storbeck · License #0722582
(361) 249-4770
Source:
Exprealty
Added: Apr 27
Changed: Aug 31
Last Checked: Sep 2 at 1:34AM
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 Keller Williams Coastal Bend
Investment Insights
Based on property information with market context.
This turn-key Flour Bluff restaurant is described as truly “ready to go,” with a fully built-out interior and completed dining space. The commercial kitchen includes a vent hood system and Ansel fire suppression, along with a walk-in cooler, refrigeration, and essential cooking equipment. The layout also features finished dining area furniture and ADA-compliant restrooms.
The property is positioned along NAS Drive and is offered close to the Naval Air Station, with the public remarks noting steady local traffic tied to the base. The building is further supported by major infrastructure upgrades, including a new grease trap, upgraded electrical service, HVAC, water line, and foundation repairs, intended to reduce upfront capital requirements and development risk.
Overall, the offering is presented as a completed restaurant environment with the core operational elements already in place, designed to support a streamlined path to opening.
The property is positioned along NAS Drive and is offered close to the Naval Air Station, with the public remarks noting steady local traffic tied to the base. The building is further supported by major infrastructure upgrades, including a new grease trap, upgraded electrical service, HVAC, water line, and foundation repairs, intended to reduce upfront capital requirements and development risk.
Overall, the offering is presented as a completed restaurant environment with the core operational elements already in place, designed to support a streamlined path to opening.
Key Highlights
- 1994‑built restaurant space fully built out with a finished dining area and ADA‑compliant restrooms
- Complete commercial kitchen includes vent hood system, Ansel fire suppression, walk‑in cooler, refrigeration, and cooking equipment
- Includes furniture and fixtures for the dining area, supporting immediate restaurant occupancy
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
$25,814
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
7.61%
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%
$516,280
$516.3K
Cap Rate 7%
$368,771
$368.8K
Cap Rate 9%
$286,822
$286.8K
Market Conditions
NOI Build-Up for 1,938 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
$37.2K $19.20/SF
− Vacancy
−$2.8K −$1.44/SF
EGI
$34.4K $17.76/SF
− OpEx
−$8.6K −$4.44/SF
NOI
$25.8K $13.32/SF
Area
ZIP 78418
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$516,280
Cap Rate 7%
$368,771
Cap Rate 9%
$286,822
Alternative Uses
Best Use
Specialty Retail
$368.8K
$322.7K – $430.2K
NOI $25,814 @ 7.0% cap · market cap 7.61%
Second Best
Industrial
$185.4K
$162.2K – $216.3K
NOI $12,979 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$740.8K
$648.2K – $864.3K
NOI $51,859 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
385
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A fully built-out restaurant with commercial kitchen equipment, dining area, and ADA-compliant restrooms, ready for occupancy.
Where is this conventional restaurant located?
The property is located at 602 Nas Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 1994‑built restaurant space fully built out with a finished dining area and ADA‑compliant restrooms; Complete commercial kitchen includes vent hood system, Ansel fire suppression, walk‑in cooler, refrigeration, and cooking equipment; Includes furniture and fixtures for the dining area, supporting immediate restaurant occupancy
