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    2650 Padre Island Dr Corpus Christi, TX 78415

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    2650 Padre Island Dr Corpus Christi, TX 78415

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    • Lifestyle centers
    • 24,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2650 Padre Island Dr

    Property size
    24,000 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.422
    Latitude
    27.7335

    Comparable in this City

    • Value Estimation by Request
      9,800 SF

      2626 So. Padre Is Dr

      Lifestyle centers • 9,800 SF
      2626 So. Padre Is Dr, Corpus Christi, TX 78415
      View Details
    • Value Estimation by Request
      24,560 SF

      1290 Fm 43

      Lifestyle centers • 24,560 SF
      1290 Fm 43, Corpus Christi, TX 78415
      View Details
    • Value Estimation
      $3,225,000
      162,114 SF

      4977 Ayers St

      MINI-MALL • 162,114 SF
      4977 Ayers St, Corpus Christi, TX 78415-1428
      View Details
    • Value Estimation by Request
      6,624 SF

      5323 Kostoryz Rd

      MINI-MALL • 6,624 SF
      5323 Kostoryz Rd, Corpus Christi, TX 78415-1905
      View Details
    • Value Estimation
      $650,000
      14,500 SF

      4502 Kostoryz Rd

      SHOPPING CENTER, STRIP CENTER • 14,500 SF
      4502 Kostoryz Rd, Corpus Christi, TX 78415-5023
      View Details
    • Value Estimation
      $1,400,000
      45,500 SF

      4701 Ayers St

      SHOPPING CENTER, STRIP CENTER • 45,500 SF
      4701 Ayers St, Corpus Christi, TX 78415-1403
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      24,560 SF

      Corner Plaza Near London School

      Corner commercial plaza in growing Corpus Christi area for sale.
      1290 Fm 43, Corpus Christi, TX 78415
      View Details
    • $5,985,000
      24,560 SF

      London Area Plaza For Sale

      Corner plaza across from London School District, 100% leased.
      2494 County Road 33, Corpus Christi, TX 78415
      View Details
    • Contact for pricing
      10,200 SF

      Corpus Christi Retail/Warehouse Opportunity

      10,200 SF building suited for retail and warehouse use.
      2722 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space on Busy Highway

      3,200 SF retail space on a quarter acre lot.
      2705 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • $650,000
      856 SF

      Updated Commercial Space For Sale

      Updated commercial property in Corpus Christi, Texas available for purchase.
      3730 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • $1,795,000
      10,200 SF

      Corpus Christi Retail/Warehouse Opportunity

      Retail and warehouse building on South Padre Island Drive.
      2722 S Padre Island Dr, Corpus Christi, TX 78415
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      47,000 SF Shopping Center Suites

      Shopping center with 29 rental suites and drive-thru convenience store.
      4701 Ayers St, Corpus Christi, TX 78415
      View Details
    • Contact for pricing

      Retail Space on Saratoga Boulevard

      Retail space with high traffic and pylon signage available.
      3801 Saratoga Blvd, Corpus Christi, TX 78415
      View Details
    • Contact for pricing
      10,000 SF

      Showroom and Warehouse Space Available

      8,000 SF showroom and 2,000 SF warehouse space for lease.
      2650-2702 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • $2,500 /Mo
      1,400 SF

      Prime Retail Space Available

      Retail space with great visibility on South Padre Island Drive.
      3403 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • Contact for pricing

      Turnkey Property with Highway Visibility

      Turnkey property with warehouse, office, and showroom spaces available.
      3253 South Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • New
      $1,800 /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
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    Corpus Christi, TX 78415
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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.

    More about this property
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