Retail Building with Storefront
For Sale
$498,000
904 HWY 35 S, Rockport, TX 78382
COMMERCIAL - Rockport, TX
Property Size2,400 SF
Lot Size0.24 Acres
Price / SF$207.50
Days on Market189
Property Features for 904 HWY 35 S
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Andrews
Lot features
Interior Lot
Standard status
Active
APN
12224
Size
2,400 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Description
S0125 ANDREWS BLK B LOT 28-R .2442 ACRES
Legal Description
S0125 ANDREWS BLK B LOT 28-R .2442 ACRES
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Listing Agency:
PorchLight Realty
(361) 239-4239
Listed By:
Robert Ellis · License #0682370
(361) 739-7219
Added: Feb 4
Changed: Aug 4
Last Checked: Aug 12 at 6:06PM
MLS# 470865
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 retail-oriented building is being remodeled with a largely open interior, substantial storefront glazing, and high ceilings. Existing framing and partial improvements provide an established starting point for completing the space according to operational requirements. The property was built in 1984 and is served by public water and public sewer.
Located at 904 HWY 35 S in Rockport, the building presents a storefront format suited to a range of commercial configurations identified for the property, including retail, service, office, or specialty applications. Its interior remains adaptable as the remodeling progresses.
Located at 904 HWY 35 S in Rockport, the building presents a storefront format suited to a range of commercial configurations identified for the property, including retail, service, office, or specialty applications. Its interior remains adaptable as the remodeling progresses.
Key Highlights
- Retail building undergoing remodeling
- Large storefront windows and high ceilings
- Open interior with partial framing improvements in place
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
$27,670
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
5.56%
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%
$553,400
$553.4K
Cap Rate 7%
$395,286
$395.3K
Cap Rate 9%
$307,444
$307.4K
Market Conditions
NOI Build-Up for 2,400 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
$43.2K $18.00/SF
− Vacancy
−$3.7K −$1.53/SF
EGI
$39.5K $16.47/SF
− OpEx
−$11.9K −$4.94/SF
NOI
$27.7K $11.53/SF
Area
Aransas County, TX
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$553,400
Cap Rate 7%
$395,286
Cap Rate 9%
$307,444
Alternative Uses
Best Use
Retail
$395.3K
$345.9K – $461.2K
NOI $27,670 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$917.5K
$802.8K – $1.07M
NOI $64,222 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
128k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 33%
Groceries 31%
Dining 23%
Shops & Services 10%
Walmart
Superstores
42,938 visits/mo
0.3 miles
H-E-B
Groceries
39,412 visits/mo
0.5 miles
Whataburger
Dining
18,273 visits/mo
0.2 miles
Taco Bell
Dining
7,363 visits/mo
0.3 miles
Murphy USA
Shops & Services
6,254 visits/mo
0.1 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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Similar Off Market Nearby
- Lulu's Flowers — 2722 Business, Hwy 35 N Bypass, Rockport, TX 78382
Frequently Asked Questions
What type of property is this?
Storefront property - Remodeling is underway, with open interior space, high ceilings, and partial framing already in place.
Where is this storefront property located?
The property is located at 904 HWY 35 S Rockport, TX.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Retail building undergoing remodeling; Large storefront windows and high ceilings; Open interior with partial framing improvements in place
