For Sale
$415,000
801 S 9th St, Port Aransas, TX 78373
Live-work space
Property Size1,684 SF
Lot Size0.14 Acres
Price / SF$246.44
Days on Market59
Property Features for 801 S 9th St
General Information
Standard status
Active
Size
1,684 SF
Total Parking Spaces
7
Lot size
0.14 Acres
Zoning
C-2
Additional Details
Highway Access
Yes
Building Details
Year Built
1983
Listing Agency:
Mark Grosse Real Estate LLC
Listed By:
Tara Hogan · License #0620385
(806) 729-1778
Source:
Thebranchinc
Added: Jul 18
Changed: Sep 8
Last Checked: Sep 13 at 1:43PM
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 Mark Grosse Real Estate LLC
Investment Insights
Based on property information with market context.
Key Highlights
- C‑2 zoned live/work commercial property with seller financing available
- 6022 SF lot with an additional 760 SF detached metal boat barn for storage or workspace
- 924 SF manufactured home offers 2 bedrooms, 2 baths, split‑bedroom layout, and LVP flooring
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
$28,168
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%
$563,360
$563.4K
Cap Rate 7%
$402,400
$402.4K
Cap Rate 9%
$312,978
$313.0K
Market Conditions
NOI Build-Up for 1,684 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
$51.7K $30.72/SF
− Vacancy
−$14.2K −$8.42/SF
EGI
$37.6K $22.30/SF
− OpEx
−$9.4K −$5.58/SF
NOI
$28.2K $16.73/SF
Area
Nueces County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$563,360
Cap Rate 7%
$402,400
Cap Rate 9%
$312,978
Alternative Uses
Best Use
Warehouse
$1.74M
$1.52M – $2.03M
NOI $121,962 @ 7.0% cap · market cap 29.39%
Second Best
Office B
$402.4K
$352.1K – $469.5K
NOI $28,168 @ 7.0% cap · market cap 6.79%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
634
Businesses Nearby
Explore this area
Business Placement
Demographics for 78373, TX
3,134
Population
5,614
Households
0.6
Avg Household Size
56
Median Age
38%
College-Educated
95%
High-School Grad
18.8 sq mi
ZIP Area
167
Density / Sq Mi
$90,000
Median Household Income
$52,353
Median Earnings
$2,226
Median Rent
$518,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
Where is this live-work space located?
The property is located at 801 S 9th St Port Aransas, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: C‑2 zoned live/work commercial property with seller financing available; 6022 SF lot with an additional 760 SF detached metal boat barn for storage or workspace; 924 SF manufactured home offers 2 bedrooms, 2 baths, split‑bedroom layout, and LVP flooring
