Neighborhood Office
For Sale
$279,000
701 Everhart, Corpus Christi, TX 78411
CommercialSale, Corpus Christi, TX
Property Size1,153 SF
Lot Size0.19 Acres
Price / SF$241.98
Days on Market527
Property Features for 701 Everhart
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Off Street
Subdivision
Alameda Park
Lot features
Subdivided
Standard status
Active
APN
009500070010
Size
1,153 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Description
ALAMEDA PARK BLK 7 LOT 1
Legal Description
ALAMEDA PARK BLK 7 LOT 1
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1941
Floors in Building
1
Listing Agency:
Keller Williams Coastal Bend · Keller Williams Realty
(361) 225-7900
Listed By:
Sara Mostaghasi · License #0653889
(361) 548-7844
Added: Apr 2, 2025
Changed: Aug 19
Last Checked: Sep 10 at 1:06PM
MLS# 456990
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 1153-square-foot office unit occupies a 0.19-acre parcel and was built in 1941. The property carries Neighborhood Office zoning and is described as suitable for office or specialty retail use. An on-site parking lot provides off-street parking and circulation around the building. Public water and public sewer serve the property.
Located at 701 Everhart, Corpus Christi, TX 78411, the property is near Everhart and Alameda. The asset combines a commercial building, on-site parking, and municipal utility service on a compact parcel in Nueces County.
Located at 701 Everhart, Corpus Christi, TX 78411, the property is near Everhart and Alameda. The asset combines a commercial building, on-site parking, and municipal utility service on a compact parcel in Nueces County.
Key Highlights
- 1153 square feet of office space on a 0.19‑acre parcel
- Neighborhood Office zoning with office or specialty retail use described
- Built in 1941
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
$16,519
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
5.92%
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%
$330,380
$330.4K
Cap Rate 7%
$235,986
$236.0K
Cap Rate 9%
$183,544
$183.5K
Market Conditions
NOI Build-Up for 1,153 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
$25.9K $22.44/SF
− Vacancy
−$3.8K −$3.34/SF
EGI
$22.0K $19.10/SF
− OpEx
−$5.5K −$4.78/SF
NOI
$16.5K $14.33/SF
Area
Corpus Christi, TX
Vacancy
14.87%
Lease Rate
$22.44 /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%
$330,380
Cap Rate 7%
$235,986
Cap Rate 9%
$183,544
Alternative Uses
Best Use
Office B
$236.0K
$206.5K – $275.3K
NOI $16,519 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.3K
$240.1K – $320.1K
NOI $19,204 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 78411, TX
26,150
Population
10,497
Households
2.5
Avg Household Size
40
Median Age
25%
College-Educated
87%
High-School Grad
6.1 sq mi
ZIP Area
4,287
Density / Sq Mi
$60,387
Median Household Income
$31,756
Median Earnings
$1,199
Median Rent
$178,800
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Municipal utilities and off-street parking support property operations.
Where is this office units located?
The property is located at 701 Everhart Corpus Christi, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 1153 square feet of office space on a 0.19‑acre parcel; Neighborhood Office zoning with office or specialty retail use described; Built in 1941
