Former Bank Building For
For Sale
$2,000,000
5875 Weber, Corpus Christi, TX 78413
Former bank building suitable for banking or professional office use.
Property Size6,700 SF
Price / SF$298.51
Days on Market761
Property Features for 5875 Weber
General Information
Standard status
Active
Size
6,700 SF
Property subtype
Commercial
Building Details
Year Built
1981
Listing Agency:
Cobb,Lundquist & Atnip,Inc.
Listed By:
Cliff Atnip · License #415947
(361) 510-4232
Source:
Phyllisbrowning
Added: Aug 8, 2024
Changed: Sep 7
Last Checked: Sep 7 at 11:48AM
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 Cobb,Lundquist & Atnip,Inc.
Investment Insights
Based on property information with market context.
The property at 5875 Weber Rd is a former bank building. The main building is approximately 5,600 sq. ft., with an additional drive-thru area of approximately 1,100 sq. ft. Zoned CG-2 Commercial General 2, the property contains an original vault and safety deposit boxes, along with some existing furniture. It is ideal for re-establishing as a bank or repurposing for professional office use. Potential uses include a banking institution, leveraging the existing vault and safety deposit boxes, or professional office space suitable for legal, medical, or corporate offices. The drive-thru area offers a unique feature for businesses requiring customer service windows or drive-through convenience. The existing furniture and secure vault may offer cost savings and added security features for the next occupant.
Key Highlights
- Former Bank Building with Existing Vault and Safety Deposit Boxes, ideal for banking or secure storage.
- CG‑2 Commercial Zoning offers versatile options for various business types.
- Drive‑Thru provides convenience for businesses needing customer service windows.
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
$105,747
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
5.29%
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%
$2,114,940
$2.1M
Cap Rate 7%
$1,510,671
$1.5M
Cap Rate 9%
$1,174,967
$1.2M
Market Conditions
NOI Build-Up for 6,700 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
$165.6K $24.72/SF
− Vacancy
−$24.6K −$3.68/SF
EGI
$141.0K $21.04/SF
− OpEx
−$35.2K −$5.26/SF
NOI
$105.7K $15.78/SF
Area
ZIP 78413
Vacancy
14.87%
Lease Rate
$24.72 /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%
$2,114,940
Cap Rate 7%
$1,510,671
Cap Rate 9%
$1,174,967
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,747 @ 7.0% cap · market cap 5.29%
Second Best
Specialty Retail
$1.04M
$906.4K – $1.21M
NOI $72,511 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,994 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
405
Businesses Nearby
Explore this area
Business Placement
Demographics for 78413, TX
37,531
Population
15,501
Households
2.4
Avg Household Size
37
Median Age
31%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,751
Density / Sq Mi
$71,624
Median Household Income
$44,342
Median Earnings
$1,321
Median Rent
$230,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Former bank building suitable for banking or professional office use.
Where is this bank located?
The property is located at 5875 Weber Corpus Christi, TX.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Former Bank Building with Existing Vault and Safety Deposit Boxes, ideal for banking or secure storage.; CG‑2 Commercial Zoning offers versatile options for various business types.; Drive‑Thru provides convenience for businesses needing customer service windows.
