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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1019 Prt Ave Corpus Christi, TX 78405-2303

    • Office buildings
    • 1,120 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    Aug 05, 2024
    $100,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0635512
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 1019 Prt Ave

    Year built
    1954
    Lot size
    0.11 lot acres
    Property size
    1,120 SF
    Zone code
    I-2
    Property type
    Office buildings
    APN
    5324-0003-0135
    APU
    532400030135

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.4209
    Latitude
    27.7809
    CBSA code
    18580
    CBSA name
    CORPUS CHRISTI, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,036
    $16,361
    $126,100
    $142,461
    -
    $16,361
    $126,100
    $142,461

    Comparable in this City

    • Value Estimation by Request
      1,040 SF

      2732 Prt Ave

      OFFICE BUILDING • 1,040 SF
      2732 Prt Ave, Corpus Christi, TX 78405-2035
      View Details
    • Value Estimation
      $15,795,000
      57,600 SF

      330 Opportunity Dr, Unit 2

      OFFICE BUILDING • 57,600 SF
      330 Opportunity Dr, Corpus Christi, TX 78405-4100
      View Details
    • Value Estimation by Request
      1,300 SF

      4009 Baldwin Blvd

      OFFICE BUILDING • 1,300 SF
      4009 Baldwin Blvd, Corpus Christi, TX 78405-3212
      View Details
    • Value Estimation
      $4,525,000
      22,320 SF

      5502 Corporate Dr

      OFFICE BUILDING • 22,320 SF
      5502 Corporate Dr, Corpus Christi, TX 78405-4401
      View Details
    • Value Estimation
      $1,855,000
      8,076 SF

      422 Enterprize Pkwy

      OFFICE BUILDING • 8,076 SF
      422 Enterprize Pkwy, Corpus Christi, TX 78405-3913
      View Details
    • Value Estimation
      $550,000
      2,500 SF

      358 Flato Rd

      OFFICE BUILDING • 2,500 SF
      358 Flato Rd, Corpus Christi, TX 78405-4205
      View Details

    Similar Nearby for Sale

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      Corpus Christi Commercial Building For Sale

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    • $349,500
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      Corpus Christi Office Building - $349,500

      Vacant Office Building, 2,870 SF, High Visibility
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    • $399,000
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      Versatile Warehouse with Office Space

      Warehouse with office space, storage, and extra parking.
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    • $79,000
      0.27 Acres

      Prime Commercial Land, Corpus Christi

      0.27-acre lot, ideal commercial use.
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    • Contact for pricing
      1.48 Acres

      Prime 1.48-Acre Commercial Land

      Central Corpus Christi development opportunity. High visibility, excellent access.
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    • Contact for pricing
      2.07 Acres

      South Padre Business Park Land

      Affordable SPID frontage land, ideal for various businesses.
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    Similar Nearby for Lease

    • $15 SF/Yr
      2,500 SF

      Shared Office Space Available

      Shared office space with multiple offices, conference room, and breakroom.
      5826 Bear Ln, Corpus Christi, TX 78405
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      Clean Office Space Available

      Well-kept office space with abundant free parking.
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    • $10 SF/Yr
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      Corpus Christi Office & Warehouse Space

      Multiple suites available, 1,526+ sq ft.
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      Prime Corpus Christi Office Space

      Executive & Traditional Suites Available
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    • $8 SF/Yr
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      Industrial Space Near Corpus Christi Port

      Industrial warehouse space with covered dock and multiple overhead doors.
      1524 N Port Ave, Corpus Christi, TX 78405
      View Details
    • Contact for pricing
      12,000 SF

      12,000 SF Warehouse - Nueces County

      Spacious Warehouse, Ready for Occupancy
      5560 Bates Rd, Corpus Christi, TX 78405
      View Details
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    1019 Prt Ave
    Corpus Christi, TX 78405-2303
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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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