Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1620 Padre Island Dr Corpus Christi, TX 78416

    Sponsored
    For Lease
    $6 SF/Yr

    Corpus Christi retail & restaurant opportunity

    Lot size:
    101,161 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This exceptional Corpus Christi property, located at 1620 S Padre Island Dr (near S Padre Island Dr), offers a diverse range of retail and restaurant spaces within a 101,161 square foot shopping center built in 1999. Currently, there are 15,934 square feet of vacant space available, divisible into units as small as 1,360 square feet, with a maximum contiguous space of 5,000 square feet. The center boasts a strong tenant mix including WellMed, Dollar Tree, Domino's Pizza, Ocean Dental, Cricket Wireless, and First Cash Pawn. Additional space will become available after January 2025, comprising approximately 7,990 square feet of former Armed Forces Recruiting Office space, divisible into four individual suites with shared restrooms and break rooms. This 7,990 square foot space can be leased independently or combined with an adjacent 4,861 square foot vacant space for a total of 12,851 square feet. The property is situated in Nueces County, Texas, zip code 78416. Attractive incentives and tenant finish allowances are available for qualified tenants. This presents a unique opportunity for businesses seeking high-visibility locations in a thriving Corpus Christi retail corridor. The property consists of five total suites. Contact us today to explore the possibilities.

    Property Features for 1620 Padre Island Dr

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    101,161 SF
    Total Rate
    50580.5

    Building Details

    Year Built
    1999

    Spaces For Lease

    at 1620 Padre Island Dr, Corpus Christi, TX 78416 Contact us
    Unit Suite 220

    $15 /Mo

    Size
    2,000 SF
    Contact us
    Unit Suite 230

    $15 /Mo

    Size
    4,574 SF
    Contact us
    Unit Suite 210

    $15 /Mo

    Size
    3,000 SF
    Contact us
    Unit Potentially Available-Big Lots

    $6 /Mo

    Size
    23,000 SF
    Contact us
    Unit Armed Forces Recruitment Offices

    $22 /Mo

    Size
    7,990 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Lynann Pinkham
    Lynann Pinkham

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    Army Recruiting Company ... Army Facility Identogo Fingerprinting Service Subway Take-out & Catering Las Espuelas Restaurant Cricket Wireless Authorized ... Mobile Phone Store

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.4395721
    Latitude
    27.7432667

    Nearby Similar for Lease

    • $7,500 /Mo
      10,000 SF

      Industrial Warehouse with Office Space

      Move-in ready warehouse with office space and truck access.
      3701 Apollo Rd, Corpus Christi, TX 78413
      View Details
    • $4,925 /Mo
      3,294 SF

      Renovated Office Suite For Lease

      Completely renovated, ADA-compliant office suite with flexible layout.
      700 Everhart Rd, Corpus Christi, TX 78411
      View Details
    • $7,000 /Mo
      3,887 SF

      Prime Commercial Space in Corpus Christi

      Highly desirable commercial space for lease in Southside Corpus Christi.
      7009 S Staples St, Corpus Christi, TX 78413
      View Details
    • $8,910 /Mo
      4,950 SF

      Versatile Commercial Space in London Area

      Prime 4,950 sq ft commercial unit in Corpus Christi.
      2510 London Pirate 33, Corpus Christi, TX 78415
      View Details
    • $2,300 /Mo
      1,071 SF

      Office Space on S Staples

      Modern office space with high ceilings and open reception area.
      6000 S Staples St, Corpus Christi, TX 78413
      View Details
    • $2,500 /Mo
      2,206 SF

      Versatile Office Space For Lease

      Commercial property in revitalizing area, ideal for medical or general office.
      1011 Santa Fe St, Corpus Christi, TX 78404
      View Details
    • $2,250 /Mo
      1,394 SF

      Converted Home Zoned Commercial CN-2

      Converted home zoned CN-2 near Downtown Corpus Christi.
      939 Ayers St, Corpus Christi, TX 78404
      View Details
    • New
      $2,750 /Mo
      1,734 SF

      Versatile Office Space For Rent

      Spacious office with ample parking and accessibility features.
      4942 Everhart Rd, Corpus Christi, TX 78411
      View Details
    • $2,760 /Mo
      1,345 SF

      Modern Office Space For Rent

      Spacious condo office with modern features available for lease.
      6000 S Staples St, Corpus Christi, TX 78413
      View Details
    • $2,200 /Mo
      1,350 SF

      Commercial Space on Kostoryz Road

      Ground floor commercial space for lease in high-traffic area.
      5902 Kostoryz St, Corpus Christi, TX 78415
      View Details
    • $1,995 /Mo
      769 SF

      Office Space in Brook Hollow

      Office space for lease in Corpus Christi with move-in readiness.
      6000 S Staples St, Corpus Christi, TX 78413
      View Details
    • $1,500 /Mo
      1,005 SF

      Corpus Christi Commercial Gem

      Rare commercial property in vibrant Six Points area.
      1613 S Staples St, Corpus Christi, TX 78404
      View Details

    FAQs

    What type of property is this?
    Restaurant - Corpus Christi retail & restaurant opportunity
    Where is this restaurant located?
    The property is located at 1620 Padre Island Dr Corpus Christi, TX.
    What is the lease rate?
    The lease rate is $6-$22 SF/Yr.
    (361) 288-3102
    Request Owner's contact information
    1620 Padre Island Dr Corpus Christi, TX 78416
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1620 Padre Island Dr
    Corpus Christi, TX 78416
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1620 Padre Island Dr Corpus Christi, TX 78416
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lynann Pinkham
    Lynann Pinkham
    Real Estate License ID: 319336
    (361) 288-3102
    Learn more
    Google sign-in failed. Please try again or use another login method.