Versatile Industrial Property NAS
For Sale
Contact for pricing
721 NAS Drive, Corpus Christi, TX 78418
Light industrial property featuring multiple buildings in a prime location.
Property Size8,899 SF
Price / SF$168.56
Days on Market191
Property Features for 721 NAS Drive
General Information
Standard status
Active
Size
8,899 SF
Property subtype
Industrial
Zoning
Light Industrial
Building Details
Year Built
1979
Year Renovated
2022
Buildings
3
Listing Agency:
Keller Williams Coastal Bend
(361) 779-1690
Listed By:
Stephanie Hastings · License #652300
Source:
Crexi
Added: Feb 2
Changed: Aug 8
Last Checked: Aug 11 at 7:55AM
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 Keller Williams Coastal Bend
Investment Insights
Based on property information with market context.
The property at 721 NAS Drive is a light industrial property featuring one lot with three buildings plus a covered loading area. Building One totals approximately 4,500 square feet and includes a 2,349.1 square foot warehouse, a 1,215.9 square foot showroom, and a 935 square foot climate-controlled storage area. Building Two consists of a 3,200 square foot warehouse, while Building Three adds an additional 1,200 square foot warehouse. The property provides excellent access, functional layout, and flexible space. It is situated in a prime location with quick access to Waldron Road and SPID, benefiting from strong connectivity and visibility. Additional features include ample parking and a secured yard. The layout is well-suited for light industrial, distribution, service, or contractor operations. The property is ideal for a variety of commercial and industrial uses and presents an excellent opportunity for businesses seeking functionality, accessibility, and room to grow. The total property size is 8899 square feet.
Key Highlights
- Prime NAS Drive location with quick access to Waldron Road and SPID.
- Multiple buildings totaling 8,900 SF (4,500 SF, 3,200 SF, and 1,200 SF) offering operational flexibility.
- Building One includes warehouse (2,349.1 SF), showroom (1,215.9 SF), and climate‑controlled storage (935 SF).
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
$83,919
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
5.59%
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%
$1,678,380
$1.7M
Cap Rate 7%
$1,198,843
$1.2M
Cap Rate 9%
$932,433
$932.4K
Market Conditions
NOI Build-Up for 8,899 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
$138.8K $15.60/SF
− Vacancy
−$9.7K −$1.09/SF
EGI
$129.1K $14.51/SF
− OpEx
−$45.2K −$5.08/SF
NOI
$83.9K $9.43/SF
Area
ZIP 78418
Vacancy
7.00%
Lease Rate
$15.60 /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%
$1,678,380
Cap Rate 7%
$1,198,843
Cap Rate 9%
$932,433
Alternative Uses
Best Use
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $83,919 @ 7.0% cap · market cap 5.59%
Second Best
Warehouse
$1.03M
$904.6K – $1.21M
NOI $72,371 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$3.40M
$2.98M – $3.97M
NOI $238,131 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
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.
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Frequently Asked Questions
What type of property is this?
Flex space - Light industrial property featuring multiple buildings in a prime location.
Where is this flex space located?
The property is located at 721 NAS Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime NAS Drive location with quick access to Waldron Road and SPID.; Multiple buildings totaling 8,900 SF (4,500 SF, 3,200 SF, and 1,200 SF) offering operational flexibility.; Building One includes warehouse (2,349.1 SF), showroom (1,215.9 SF), and climate‑controlled storage (935 SF).
