Auto Shop with Service
For Sale
$699,000
Pending
9818 S Padre Island Drive, Corpus Christi, TX 78418
CommercialSale, Corpus Christi, TX
Property Size3,796 SF
Lot Size0.49 Acres
Days on Market131
Property Features for 9818 S Padre Island Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage
Subdivision
Flour Bluff Park
Lot features
Interior Lot, Level
Standard status
Pending
APN
254000150480
Size
3,796 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Description
FLOUR BLUFF PARK BLK 15 LTS W/2 OF LTS 48, 49, 50 & A
Legal Description
FLOUR BLUFF PARK BLK 15 LTS W/2 OF LTS 48, 49, 50 & A
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Amenities
covered drive-through canopy
large front-facing windows
open reception area
private office potential
expansive concrete yard
Building Details
Year built
1988
Floors in Building
1
Listing Agency:
Keller Williams Coastal Bend · Keller Williams Realty
(361) 225-7900
Listed By:
Victor Rivera · License #0679506
(214) 293-0684
Added: Apr 16
Changed: Aug 20
Last Checked: Aug 24 at 3:06AM
MLS# 474891
Copyright © 2026 South Texas Multiple Listing Service, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,796-square-foot automotive property was built in 1988 and includes a front office and showroom with large windows, an open reception area, and space for private offices. A covered drive-through canopy serves the front of the building, while multiple rear service bays with roll-up doors support vehicle work, storage, or workshop operations. The site also includes a concrete yard and a fenced rear section for controlled outdoor storage or parking.
Located near NAS-CC, the property offers convenient ingress and egress along S Padre Island Drive in Corpus Christi. Public water and public sewer serve the site, with central air conditioning and central electric heating in the building. The property previously operated as an automotive sales and service site.
Located near NAS-CC, the property offers convenient ingress and egress along S Padre Island Drive in Corpus Christi. Public water and public sewer serve the site, with central air conditioning and central electric heating in the building. The property previously operated as an automotive sales and service site.
Key Highlights
- 3,796 square feet on 0.49 acres
- Built in 1988 with central air and central electric heating
- Covered drive‑through canopy at the front of the property
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
$43,764
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
6.26%
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%
$875,280
$875.3K
Cap Rate 7%
$625,200
$625.2K
Cap Rate 9%
$486,267
$486.3K
Market Conditions
NOI Build-Up for 3,796 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
$68.3K $18.00/SF
− Vacancy
−$5.8K −$1.53/SF
EGI
$62.5K $16.47/SF
− OpEx
−$18.8K −$4.94/SF
NOI
$43.8K $11.53/SF
Area
ZIP 78418
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$875,280
Cap Rate 7%
$625,200
Cap Rate 9%
$486,267
Alternative Uses
Best Use
Retail
$625.2K
$547.1K – $729.4K
NOI $43,764 @ 7.0% cap · market cap 6.26%
Second Best
Industrial
$363.2K
$317.8K – $423.7K
NOI $25,423 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,578 @ 7.0% cap · market cap 14.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 78418, TX
31,787
Population
16,171
Households
2
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
73.3 sq mi
ZIP Area
434
Density / Sq Mi
$91,443
Median Household Income
$51,914
Median Earnings
$1,301
Median Rent
$274,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property with showroom, covered drive-through canopy, roll-up service bays, and secured outdoor storage areas.
Where is this auto shop located?
The property is located at 9818 S Padre Island Drive Corpus Christi, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 3,796 square feet on 0.49 acres; Built in 1988 with central air and central electric heating; Covered drive‑through canopy at the front of the property
