Commercial Property Overlooking Little
For Sale
$1,600,000
701 Hwy 35 N, Rockport, TX 78382
COMMERCIAL - ROCKPORT, TX
Property Size3,320 SF
Price / SF$481.93
Days on Market128
Property Features for 701 Hwy 35 N
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Residential
Subdivision
Smith and Wood
Elementary school district
RFISD
Middle school district
RFISD
High school district
RFISD
Standard status
Active
Size
3,320 SF
Amenities
overlooking Little Bay
commercial kitchen
commercial stove/vent
oven
dishwasher
two half baths
multiple sinks
generous storage
loading dock
Building Details
Year built
1956
Floors in Building
1
Number of units
1
Listing Agency:
KEY ALLEGRO REAL ESTATE
(361) 729-3691
Listed By:
KELLY HANCOCK · License #0392108
(832) 377-9090
Added: Apr 17
Changed: Aug 4
Last Checked: Aug 22 at 9:06PM
MLS# 155063
Copyright © 2026 Rockport Area Association of Realtors. 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 established commercial property overlooks Little Bay and is designed for functionality and efficiency. The property features durable concrete floors, a commercial kitchen equipped with a commercial stove/vent, oven, and dishwasher, as well as multiple sinks throughout. Two half baths are also included. The layout is well-suited for a variety of business uses. Additional features include ample parking, generous storage space, and a convenient loading dock.
Key Highlights
- Overlooking Little Bay
- Commercial kitchen with commercial stove/vent, oven, and dishwasher
- Ample parking
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
$47,617
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
2.98%
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%
$952,340
$952.3K
Cap Rate 7%
$680,243
$680.2K
Cap Rate 9%
$529,078
$529.1K
Market Conditions
NOI Build-Up for 3,320 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
$66.1K $19.92/SF
− Vacancy
−$2.6K −$0.80/SF
EGI
$63.5K $19.12/SF
− OpEx
−$15.9K −$4.78/SF
NOI
$47.6K $14.34/SF
Area
Aransas County, TX
Vacancy
4.00%
Lease Rate
$19.92 /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%
$952,340
Cap Rate 7%
$680,243
Cap Rate 9%
$529,078
Alternative Uses
Best Use
Specialty Retail
$680.2K
$595.2K – $793.6K
NOI $47,617 @ 7.0% cap · market cap 2.98%
Second Best
Industrial
$314.9K
$275.6K – $367.4K
NOI $22,045 @ 7.0% cap · market cap 1.38%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,841 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 90%
Hotels & Casinos 10%
Dollar Tree
Shops & Services
6,557 visits/mo
0.4 miles
Circle K
Shops & Services
4,758 visits/mo
0.3 miles
Wells Fargo
Shops & Services
3,284 visits/mo
0.1 miles
Watermill Express
Shops & Services
3,191 visits/mo
0.4 miles
Holiday Inn Express & Suites Rockport Texas
Hotels & Casinos
1,012 visits/mo
0.3 miles
Demographics for 78382, TX
19,432
Population
13,048
Households
1.5
Avg Household Size
53
Median Age
30%
College-Educated
92%
High-School Grad
79.9 sq mi
ZIP Area
243
Density / Sq Mi
$63,434
Median Household Income
$38,741
Median Earnings
$1,147
Median Rent
$238,200
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 - Established commercial property with a functional layout and commercial kitchen.
Where is this commercial kitchen located?
The property is located at 701 Hwy 35 N Rockport, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Overlooking Little Bay; Commercial kitchen with commercial stove/vent, oven, and dishwasher; Ample parking
