121 Cut-Off Rd Port Aransas, TX 78373
Commercial property with office space, spa, suites, and pool.
Property Features for 121 Cut-Off Rd
General Information
- Standard status
- Active
- Size
- 6,169 SF
- Lot size
- 0.67 Acres
- Property subtype
- Office
Listing office RE/Max Coastal Living (361) 815-2300
Listing date Jul 21, 2024
Source Crexi
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Investment Insights
Based on property information with market context.
Key Highlights
- Desirable location on high‑traffic Cutoff Road in Port Aransas.
- Main building with leased office space (2232 sq. ft.) providing immediate income from Anchor Tenant Stewart Title.
- Four modern studio suites (built in 2019) currently operating as vacation rentals with an 11 x 30 salt water pool.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.5k | $30.72 |
| − Vacancy | −$51.9k | −$8.42 |
| EGI | $137.6k | $22.30 |
| − OpEx | −$34.4k | −$5.58 |
| NOI | $103.2k | $16.73 |