Ayers Street Multi-Use
For Sale
Contact for pricing
6110 Ayers St, Corpus Christi, TX
Multi-use facility on Ayers near Saratoga, built in 2013.
Property Size12,748 SF
Lot Size3.76 Acres
Price / SF$192.19
Days on Market716
Property Features for 6110 Ayers St
General Information
Standard status
Active
Size
12,748 SF
Lot size
3.76 Acres
Property subtype
RETAIL
Listing Agency:
Adame Commercial
(361) 880-5888
Listed By:
Mark Adame, CCIM, SIOR
Source:
Moodyscre
Added: Oct 1, 2024
Changed: Jul 6
Last Checked: Sep 15 at 6:44AM
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 Adame Commercial
Investment Insights
Based on property information with market context.
This multi-use facility is located on Ayers Street near Saratoga. Currently, the facility is used as a large bingo hall and special event center. Constructed in 2013, the building features tilt-wall construction and a complete concrete parking lot. A large pylon sign is available facing Ayers Street. The property has frontage visibility on Ayers and excellent access to Saratoga and the Crosstown Expressway. There is a covered drop-off area. The property's flexible use allows it to be subdivided for multiple users. Excess land is available for expansion. The property size is 12,748 square feet.
Key Highlights
- Prime location on Ayers near Saratoga with excellent access and high visibility
- Flexible use property suitable for multiple purposes or subdivision
- Superior tilt‑wall construction and complete concrete parking lot
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
$154,200
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
6.29%
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%
$3,084,000
$3.1M
Cap Rate 7%
$2,202,857
$2.2M
Cap Rate 9%
$1,713,333
$1.7M
Market Conditions
NOI Build-Up for 12,748 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
$229.5K $18.00/SF
− Vacancy
−$9.2K −$0.72/SF
EGI
$220.3K $17.28/SF
− OpEx
−$66.1K −$5.18/SF
NOI
$154.2K $12.10/SF
Area
Corpus Christi, TX
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,084,000
Cap Rate 7%
$2,202,857
Cap Rate 9%
$1,713,333
Alternative Uses
Best Use
Retail
$2.20M
$1.93M – $2.57M
NOI $154,200 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.03M
$2.65M – $3.54M
NOI $212,331 @ 7.0% cap · market cap 8.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - Multi-use facility on Ayers near Saratoga, built in 2013.
Where is this storefront property located?
The property is located at 6110 Ayers St Corpus Christi, TX.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: Prime location on Ayers near Saratoga with excellent access and high visibility; Flexible use property suitable for multiple purposes or subdivision; Superior tilt‑wall construction and complete concrete parking lot
