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    Office/Warehouse with Multiple Buildings Title is generated by Realmo AI

    311 Saratoga Blvd, Corpus Christi, TX 78417

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    Office and warehouse space with multiple buildings and ample land.

    Type:Industrial, Mixed Use, Office
    Property size:
    32,953 SF
    Lot size:
    29.03 Acres
    Price / SF:
    $108/SF
    Added:
    Oct 12, 2023
    Days on Market:
    971
    Last Refresh:
    May 12 at 9:38 pm

    Property Features for 311 Saratoga Blvd

    General Information

    Standard status
    Active
    Size
    32,953 SF
    Lot size
    29.03 Acres
    Property subtype
    Industrial, Mixed Use, Office

    We can help!

    Listing Contact
    Cliff Atnip
    Cliff Atnip

    Listing agent Cliff Atnip License #TX 415947

    Listing office Cobb, Lundquist & Atnip Inc

    Listing date Oct 12, 2023

    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 Cobb, Lundquist & Atnip Inc

    HighLights

    • 32,953 SF office/warehouse space across four buildings.
    • Main building includes 13,264 SF of office space and 4,489 SF of warehouse space.
    • Located on a 4.9658‑acre site with 353 feet of frontage on Saratoga and zoned IL (Light Industrial).
    • Features a 5‑ton crane in the welding shop and a 10‑ton crane in the mechanic shop.
    • Additional 24.066‑acre tract with 600 ft of frontage on Jurica Rd (CR 37), located just outside city limits and unzoned.
    • Includes a 7,500 SF service warehouse, a 2,500 SF service garage, a 4,000 SF machine shop and a 1,200 SF small shop.

    Overview

    This property features an office/warehouse complex comprising four buildings, totaling 32,953 square feet. The main building, constructed in 2007, is a pre-engineered metal structure with a concrete slab foundation, offering 13,264 square feet of office space and 4,489 square feet of warehouse space. A 7,500-square-foot service warehouse, built in 2012, complements the main structure. Additionally, there is a 2,500-square-foot service garage built in 2007, a 4,000-square-foot machine shop, and a 1,200-square-foot small shop, both constructed in 1992. All buildings are pre-engineered metal structures with concrete slabs, corrugated metal siding, and roofs with eaves ranging from 16 to 25 feet. Ancillary improvements include two canopies totaling 4,160 square feet. The property includes a 5-ton crane in the welding shop and a 10-ton crane in the mechanic shop. The improved site, rectangular in shape, has approximately 353 feet of frontage on the southwest side of Saratoga Boulevard and is approximately 600 feet deep, encompassing approximately 4.9658 acres. Zoned IL, light industrial. Excess land has 600 feet of frontage on the west side of Jurica Road (CR 37), containing approximately 24.066 acres. The tract is located just outside city limits and is not zoned.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coastal Drilling Co Construction Company Signal Security of Corpus ... Security Service Liberty Well Services Construction Company

    Suggested Use

    Law Firm Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Pharmacy Auto Parts Store Kitchen & Bath Showroom Bar & Pub Garden 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
    -97.48362
    Latitude
    27.732977

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    FAQs

    What type of property is this?
    Flex space - Office and warehouse space with multiple buildings and ample land.
    Where is this flex space located?
    The property is located at 311 Saratoga Blvd Corpus Christi, TX.
    What is the asking price?
    The asking price for this property is $3,589,000.
    What are key features of this property?
    This property features: 32,953 SF office/warehouse space across four buildings.; Main building includes **13,264 SF of office space** and 4,489 SF of warehouse space.; Located on a 4.9658‑acre site with 353 feet of frontage on Saratoga and zoned IL (Light Industrial).
    (361) 510-4232 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Cliff Atnip
    Cliff Atnip
    Real Estate License ID: TX 415947
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    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.

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