Flex Warehouse and Office
For Sale
$2,100,000
6704 Ranger, Corpus Christi, TX 78415
Two commercial buildings totaling 10,000 sq ft include offices, restrooms, storage, and warehouse areas with overhead doors.
Property Size10,000 SF
Lot Size4.14 Acres
Price / SF$210
Days on Market365
Property Features for 6704 Ranger
General Information
Standard status
Active
Size
10,000 SF
Lot size
4.14 Acres
Property subtype
Office
Additional Details
Road Access
Yes
Office Units
8
Amenities
Central Air, Electric
3
Asphalt, Concrete Driveway.
Extra Storage.
Building Details
Year Built
1996
Listing Agency:
Richard Serna & Assoc. Inc
(361) 993-8288
Listed By:
Oralia Serna · License #0345671
(361) 813-3349
Source:
Xome
Added: Sep 9, 2025
Changed: Sep 1
Last Checked: Sep 7 at 5:11AM
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 Richard Serna & Assoc. Inc
Investment Insights
Based on property information with market context.
This offering includes two commercial buildings on a 2.25-acre site with 249.98 feet of frontage. Building one is described as a pharmaceutical lab with 5,000 square feet, including office, bathroom, storage, and an overhead door. Building two totals 5,000 square feet and features eight office spaces plus a reception area and break room, two bathrooms, storage rooms, and a warehouse area with an overhead door.
The property is adjacent to Cabaniss Field and fronts Ranger Avenue. It is also being sold together with 2801 Cactus, described as commercial land with 1.89 acres and a 5,400-square-foot metal building that needs work.
All information provided indicates flex-style use with office and warehouse components integrated into each building, each including overhead-door access for loading or operational needs.
The property is adjacent to Cabaniss Field and fronts Ranger Avenue. It is also being sold together with 2801 Cactus, described as commercial land with 1.89 acres and a 5,400-square-foot metal building that needs work.
All information provided indicates flex-style use with office and warehouse components integrated into each building, each including overhead-door access for loading or operational needs.
Key Highlights
- Two commercial buildings totaling 10,000 SF on 2.25 acres with 249.98 ft frontage on Ranger Ave.
- Bldg 1: 5,000 SF used as a pharmaceutical lab with office, bathroom, storage, and overhead door.
- Bldg 2: 5,000 SF with 8 office spaces, reception, break room, 2 bathrooms, storage room, and warehouse with overhead door.
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
$71,760
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
3.42%
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%
$1,435,200
$1.4M
Cap Rate 7%
$1,025,143
$1.0M
Cap Rate 9%
$797,333
$797.3K
Market Conditions
NOI Build-Up for 10,000 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
$120.0K $12.00/SF
− Vacancy
−$9.6K −$0.96/SF
EGI
$110.4K $11.04/SF
− OpEx
−$38.6K −$3.86/SF
NOI
$71.8K $7.18/SF
Area
ZIP 78415
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%
$1,435,200
Cap Rate 7%
$1,025,143
Cap Rate 9%
$797,333
Alternative Uses
Best Use
Flex RnD
$1.03M
$897.0K – $1.20M
NOI $71,760 @ 7.0% cap · market cap 3.42%
Second Best
Warehouse
$1.02M
$894.1K – $1.19M
NOI $71,528 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,560 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
87
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78415, TX
38,722
Population
15,465
Households
2.5
Avg Household Size
36
Median Age
11%
College-Educated
80%
High-School Grad
109.2 sq mi
ZIP Area
355
Density / Sq Mi
$53,803
Median Household Income
$31,748
Median Earnings
$1,166
Median Rent
$135,600
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.
Frequently Asked Questions
What type of property is this?
Flex space - Two commercial buildings totaling 10,000 sq ft include offices, restrooms, storage, and warehouse areas with overhead doors.
Where is this flex space located?
The property is located at 6704 Ranger Corpus Christi, TX.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Two commercial buildings totaling 10,000 SF on 2.25 acres with 249.98 ft frontage on Ranger Ave.; Bldg 1: 5,000 SF used as a pharmaceutical lab with office, bathroom, storage, and overhead door.; Bldg 2: 5,000 SF with 8 office spaces, reception, break room, 2 bathrooms, storage room, and warehouse with overhead door.
