Built-Out Commercial
For Sale
$339,000
602 Nas Drive, Corpus Christi, TX 78418
COMMERCIAL - Corpus Christi, TX
Property Size1,938 SF
Lot Size0.10 Acres
Price / SF$174.92
Days on Market108
Property Features for 602 Nas Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Flour Bluff Estates #2
Lot features
Corner Lot
Standard status
Active
APN
248700030100
Size
1,938 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Description
FLOUR BLUFF ESTATES #2 BLK 3 LOT 10A
Legal Description
FLOUR BLUFF ESTATES #2 BLK 3 LOT 10A
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Water source
Public
Amenities
complete commercial kitchen
vent hood system
Ansel fire suppression
walk-in cooler
reach-in refrigeration
48" fryer
dishwasher
3-compartment sink
new grease trap
200 amp electrical service
new water meter line
mini split HVAC
furniture
custom rustic buildout
ADA-compliant restroom
Building Details
Year built
1994
Floors in Building
1
Roof type
Shingle
Listing Agency:
Keller Williams Coastal Bend · Keller Williams Realty
(361) 225-7900
Listed By:
Will Storbeck · License #0722582
(361) 249-4770
Added: Apr 27
Changed: Aug 10
Last Checked: Aug 12 at 7:06PM
MLS# 475358
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 1,938-square-foot commercial kitchen property occupies 0.1 acres at 602 Nas Drive in Corpus Christi. The building was constructed in 1994 and has been renovated with a custom rustic interior, furniture, an ADA-compliant restroom, and a second restroom. Kitchen improvements include a vent hood with Ansel fire suppression, walk-in cooler with refrigerator, reach-in refrigeration, a 48-inch fryer, dishwasher, and three-compartment sink.
Recent infrastructure work includes a new grease trap, 200-amp electrical service, new water meter line, and mini-split HVAC. The property has public water and public sewer service, electric and central heating, and a shingle roof. The space has never opened, and final city clearance is to be provided for future COO.
Recent infrastructure work includes a new grease trap, 200-amp electrical service, new water meter line, and mini-split HVAC. The property has public water and public sewer service, electric and central heating, and a shingle roof. The space has never opened, and final city clearance is to be provided for future COO.
Key Highlights
- 1,938‑square‑foot building on 0.1 acres
- Complete commercial kitchen with vent hood and Ansel fire suppression
- Walk‑in cooler, reach‑in refrigeration, 48" fryer, dishwasher, and 3‑compartment sink
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
Retail
$319.2K
$279.3K – $372.4K
NOI $22,343 @ 7.0% cap · market cap 6.59%
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
Utilities to site
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Renovated space includes commercial cooking equipment, refrigeration, seating furniture, and two restrooms.
Where is this commercial kitchen located?
The property is located at 602 Nas Drive 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: 1,938‑square‑foot building on 0.1 acres; Complete commercial kitchen with vent hood and Ansel fire suppression; Walk‑in cooler, reach‑in refrigeration, 48" fryer, dishwasher, and 3‑compartment sink
