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Port Aransas Commercial Property

121 Cut-Off Rd Port Aransas, TX 78373

121 Cut-Off Rd, Port Aransas, TX, 78373
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Commercial property with office space, spa, suites, and pool.

Property Size6,169 SF
Lot Size0.67 Acres
Price / SF$356.62
AddedJul 21, 2024
Days on Market726
Last RefreshJul 15 at 11:54 am

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

Listing date Jul 21, 2024

Source Crexi

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 RE/Max Coastal Living


Investment Insights

Based on property information with market context.

Located on Cutoff Road in Port Aransas, this commercial property, known as "The Balinese," features a main building of approximately 4489 square feet, along with four modern rental suites and a saltwater swimming pool. The main building currently includes 2232 square feet of office space, fully leased by Stewart Title, and a 1637-square-foot wellness spa and boutique area. An on-site laundry facility is also available. Additionally, there is a 620-square-foot one-bedroom apartment with a fenced yard at the north end of the building. The property includes impact windows throughout, and the roof was replaced in December 2017. The property is in an X flood zone with an elevation over 13 feet. The main building also features a 750-square-foot rooftop covered deck with views of the ship channel. Built in 2019, the four modern studio suites are located in the back, along with an 11 x 30 pool and two additional storage rooms. The suites are currently used as vacation rentals. Constructed with Hardi board, the property sits on a 0.665-acre lot, equivalent to 28,974 square feet. The property is ideally suited for offices, retail, or a medical facility. A recently rebuilt and refurbished lighted sign is present. The property is located in a high-traffic area on Cutoff Road.

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
6,169 SF · lease $30.72/SF/yr · vacancy 27.40% · expense 25.00%

Alternative Uses

Best Use
Office B
$1.47M
$1.29M – $1.72M (±1% cap)
NOI $103,189 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$474.7K
$415.3K – $553.8K (±1% cap)
NOI $33,226 @ 7.0% cap · market cap 1.51%
Theoretical Best
Warehouse
$6.38M
$5.58M – $7.45M (±1% cap)
NOI $446,784 @ 7.0% cap · market cap 20.31%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Location Intelligence

Current Use by Public Records

Office Units

FAQs

What type of property is this?
Office units - Commercial property with office space, spa, suites, and pool.
Where is this office units located?
The property is located at 121 Cut-Off Rd Port Aransas, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 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.**
Contact an agent
(361) 815-2300 Call to check price and availability
More about this property
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