Multifamily Property in Growing
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7252 Mansions Dr, Corpus Christi, TX 78414
8,438 SF building with five units in prime location.
Property Size8,438 SF
Price / SF$100.73
Days on Market884
Property Features for 7252 Mansions Dr
General Information
Standard status
Active
Size
8,438 SF
Property subtype
Multifamily
Zoning
RT
Occupancy
80%
Building Details
Year Built
2007
Stories
2
Units
5
Listing Agency:
Cravey Real Estate Services Inc
Listed By:
David Heitzman · License #TX 806588
(361) 289-5168
Source:
Crexi
Added: Apr 3, 2024
Changed: Sep 2
Last Checked: Aug 29 at 11:20PM
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 Cravey Real Estate Services Inc
Investment Insights
Based on property information with market context.
Located off Rodd Field Road, the property at 7252 Mansions Drive features an 8,438 square foot building constructed in 2007. It contains five units, each with two bedrooms and two bathrooms. Each unit has a 1200 square foot layout, with 880 square feet on the main floor and an additional 320 square feet on the second level. Four of the five units are currently occupied. The property is zoned RT and is located in one of Corpus Christi's fastest-growing areas. It is suitable for multifamily or single-family rental investors. The HOA handles exterior maintenance, water, trash, and common grounds upkeep.
Key Highlights
- Prime location off Rodd Field Road in a rapidly growing Corpus Christi area with RT zoning.
- Substantial 8,438 SF building featuring five well‑maintained, contemporary 2‑bedroom, 2‑bathroom units.
- Ideal for Multifamily / Single Family Rental investors seeking portfolio expansion.
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
$45,267
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
5.33%
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%
$905,340
$905.3K
Cap Rate 7%
$646,671
$646.7K
Cap Rate 9%
$502,967
$503.0K
Market Conditions
NOI Build-Up for 8,438 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
$94.2K $11.16/SF
− Vacancy
−$11.9K −$1.41/SF
EGI
$82.3K $9.75/SF
− OpEx
−$37.0K −$4.39/SF
NOI
$45.3K $5.36/SF
Area
ZIP 78414
Vacancy
12.60%
Lease Rate
$11.16 /SF/Yr
Expense Ratio
45.00%
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%
$905,340
Cap Rate 7%
$646,671
Cap Rate 9%
$502,967
Alternative Uses
Best Use
Apartment 5plus
$646.7K
$565.8K – $754.5K
NOI $45,267 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.29M
$2.00M – $2.67M
NOI $160,390 @ 7.0% cap · market cap 18.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
203
Businesses Nearby
Explore this area
Business Placement
Demographics for 78414, TX
46,972
Population
20,121
Households
2.3
Avg Household Size
35
Median Age
39%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
3,308
Density / Sq Mi
$96,788
Median Household Income
$56,626
Median Earnings
$1,549
Median Rent
$271,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 8,438 SF building with five units in prime location.
Where is this apartment building located?
The property is located at 7252 Mansions Dr Corpus Christi, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Prime location off Rodd Field Road in a rapidly growing Corpus Christi area with RT zoning.; Substantial 8,438 SF building featuring **five well‑maintained, contemporary 2‑bedroom, 2‑bathroom units.**; Ideal for Multifamily / Single Family Rental investors seeking portfolio expansion.
