Flex Space with Office
For Sale
$2,100,000
6704 Ranger, Corpus Christi, TX 78415
CommercialSale, Corpus Christi, TX
Property Size10,000 SF
Lot Size2.25 Acres
Price / SF$210
Days on Market287
Property Features for 6704 Ranger
General Information
Property type
Commercial Sale
Property subtype
Office
Interior features
Storage
Exterior features
Storage
Subdivision
Cabaniss industrial Park
Standard status
Active
APN
203595 203598
Size
10,000 SF
Lot size
2.25 Acres
Taxes and HOA fees
Tax Description
Cabaniss Industrial Park 2.247 Aces out of Lt 2 Blk 1 m Legal ( for 6704 Ranger) tax #203595 Cabaniss industrial Park Blk 1 Lot 4 ( for 29801 Cactus Rd) Tax 203598
Legal Description
Cabaniss Industrial Park 2.247 Aces out of Lt 2 Blk 1 m Legal ( for 6704 Ranger) tax #203595 Cabaniss industrial Park Blk 1 Lot 4 ( for 29801 Cactus Rd) Tax 203598
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1996
Floors in Building
1
Building materials
Block, MetalSiding
Additional Structures
Storage
Listing Agency:
Richard Serna & Assoc. Inc
(361) 993-8288
Listed By:
Oralia Serna · License #0345671
(361) 813-3349
Added: Nov 25, 2025
Changed: Sep 3
Last Checked: Sep 8 at 9:06PM
MLS# 468203
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 offering includes two commercial buildings totaling 10,000 square feet on 2.25 acres. One 5,000-square-foot building is configured for pharmaceutical laboratory use with office, bathroom, storage, and an overhead door. The second 5,000-square-foot building provides eight offices, a reception area, break room, two bathrooms, storage, and warehouse space with another overhead door. Both structures include central air, electric heating, and public water and sewer service.
The property fronts 249.98 feet along Ranger Ave and abuts Cabaniss field. The sale also includes 2801 Cactus, an adjacent 1.89-acre commercial land parcel containing 82,328 square feet and a 5,400-square-foot metal building that needs work. The improvements were built in 1996 and include block and metal siding construction.
The property fronts 249.98 feet along Ranger Ave and abuts Cabaniss field. The sale also includes 2801 Cactus, an adjacent 1.89-acre commercial land parcel containing 82,328 square feet and a 5,400-square-foot metal building that needs work. The improvements were built in 1996 and include block and metal siding construction.
Key Highlights
- Two commercial buildings totaling 10,000 square feet on 2.25 acres
- 5,000‑square‑foot pharmaceutical laboratory building with office, storage, bathroom, and overhead door
- Second 5,000‑square‑foot building with 8 offices, reception, break room, 2 bathrooms, storage, and warehouse
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
$142,508
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
6.79%
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%
$2,850,160
$2.9M
Cap Rate 7%
$2,035,829
$2.0M
Cap Rate 9%
$1,583,422
$1.6M
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
$223.2K $22.32/SF
− Vacancy
−$33.2K −$3.32/SF
EGI
$190.0K $19.00/SF
− OpEx
−$47.5K −$4.75/SF
NOI
$142.5K $14.25/SF
Area
ZIP 78415
Vacancy
14.87%
Lease Rate
$22.32 /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%
$2,850,160
Cap Rate 7%
$2,035,829
Cap Rate 9%
$1,583,422
Alternative Uses
Best Use
Office B
$2.04M
$1.78M – $2.38M
NOI $142,508 @ 7.0% cap · market cap 6.79%
Second Best
Flex RnD
$1.03M
$897.0K – $1.20M
NOI $71,760 @ 7.0% cap · market cap 3.42%
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
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two commercial buildings combine laboratory, office, warehouse, storage, and support areas on a sizable commercial tract.
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 square feet on 2.25 acres; 5,000‑square‑foot pharmaceutical laboratory building with office, storage, bathroom, and overhead door; Second 5,000‑square‑foot building with 8 offices, reception, break room, 2 bathrooms, storage, and warehouse
