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Property profile & analytics
OFF-MARKET
Estimated value
$615,000
Medical Office Space
1227 3rd St 7 Corpus Christi, TX 78404-2313
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US83-2931700
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2017
Total area
5,550 SF
Lot
0.5 ac (21,693 SF)
Zoning code
B-4,AB
APN
0486-0008-0070
UPID
US83-2931700
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
South Texas Brain & Spine Centers Physician
-
Macias Melissa MD Physician
-
Dr. Mathew T. Alexander, MD Physician
-
Dr. Patrick Langham Gleason Physician
-
Dr. Stefan J. Konasiewicz, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$562k
Blend (final)
Blend
$615k
Owner & transaction history
M & J Alexander Ents Ltd · 18 yrs held
M & J Alexander Ents Ltd
since 2008
7 recorded transactions
Zoning & alternative use
B-4,AB · Corpus Christi, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$685,000
+46.2%
Auto repair, garage
$665,000
+41.3%
Restaurant
$590,000
+25.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Corpus Christi submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Corpus Christi submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$470,000
Current use
COMMERCIAL (GENERAL)
$685,000
Change: +46% · Conversion: Easy
AUTO REPAIR, GARAGE
$665,000
Change: +41% · Conversion: Difficult
RESTAURANT
$590,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$570,000
Change: +22% · Conversion: Easy
RETAIL STORES
$545,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$615k
Range $554k – $677k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$111 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$22,639
Tax year 2023
Assessed value
$1,099,605
Assessed 2024
Previous assessed
$1,062,247
+3.5% YoY
Effective rate
2.06%
On assessed value
Assessed land
$260,052
Assessed improvement
$839,553
Land market value
$260,052
Improvement market value
$839,553
Total market value
$1,099,605
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2017
Heating
NONE
Stories
1
Total area
5,550 SF
Lot
0.5 ac (21,693 SF)
Zoning code
B-4,AB
APN
0486-0008-0070
UPID
US83-2931700
Jurisdiction
NUECES
Zoning & alternative use
B-4,AB · Corpus Christi, TXZoning B-4,AB · permitted uses
B-4,AB · Corpus Christi, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$470,000
COMMERCIAL (GENERAL)
Est. value
$685,000
AUTO REPAIR, GARAGE
Est. value
$665,000
RESTAURANT
Est. value
$590,000
OFFICE BUILDING
Est. value
$570,000
RETAIL STORES
Est. value
$545,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2017
Heating
NONE
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
M & J Alexander Ents Ltd
Individual
Mailing address
1227 3RD ST, CORPUS CHRISTI, TX 78404-2313
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2008
—
M & J Alexander Ents Ltd
Ellison,scott M
Warranty Deed
$786,250 · Frost National Bank
May 17, 2004
—
Scott M Ellison
Shelton,w J JR
Warranty Deed
$160,000 · American Bank
Jan 23, 2003
—
W J Shelton
Shelton Investments
Quit Claim Deed
related
—
—
—
M & J Alexander Ents Ltd
—
Deed Of Trust
related
$786,250 · Frost Bank
—
—
M & J Alexander Ents Ltd
—
Loan Modification
related
$610,558 · Frost Bank
—
—
M & J Alexander Ents Ltd
—
Loan Modification
related
$607,107 · Frost Bank
—
—
M & J Alexander Ents Ltd
—
Deed Of Trust
related
$786,250 · Frost National Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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