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    Property profile & analytics

    1623 Morgan Ave Corpus Christi, TX 78404

    • Retail space
    • 1,571 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    7.8%
    Retail space
    Location Intelligence
    Property ID
    US83-3811957
    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

    • Retail space

    Property Details for 1623 Morgan Ave

    Lot size
    0.13 lot acres
    Property size
    1,571 SF
    Property type
    Retail space
    APN
    0481-1100-0020
    APU
    48111000020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $315,000
      6.5%
      $290,000
      7%
      $270,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.4075
    Latitude
    27.7783
    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
    $1,371
    $23,132
    $41,197
    $64,329
    -
    $23,132
    $41,197
    $64,329

    Comparable in this City

    • Value Estimation
      $245,000
      1,080 SF

      815 Staples St

      RETAIL STORES (PERSONAL SERVICES) • 1,080 SF
      815 Staples St, Corpus Christi, TX 78404-3232
      View Details
    • Value Estimation
      $265,000
      4,059 SF

      1628 Morgan Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,059 SF
      1628 Morgan Ave, Corpus Christi, TX 78404-3548
      View Details
    • Value Estimation
      $250,000
      1,197 SF

      1635 Staples St

      RETAIL STORES (PERSONAL SERVICES) • 1,197 SF
      1635 Staples St, Corpus Christi, TX 78404-3124
      View Details
    • Value Estimation
      $245,000
      7,922 SF

      2303-2309 Ayers St Date St

      RETAIL STORES (PERSONAL SERVICES) • 7,922 SF
      2303-2309 Ayers St Date St, Corpus Christi, TX 78404
      View Details
    • Value Estimation
      $245,000
      1,436 SF

      1321 Ayers St

      RETAIL STORES (PERSONAL SERVICES) • 1,436 SF
      1321 Ayers St, Corpus Christi, TX 78404-3030
      View Details
    • Value Estimation
      $280,000
      2,250 SF

      1737 Brownlee Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,250 SF
      1737 Brownlee Blvd, Corpus Christi, TX 78404-3018
      View Details

    Similar Nearby for Sale

    • $525,000
      3,232 SF

      Mixed-Use Property in Corpus Christi

      Income-producing mixed-use property with commercial zoning and redevelopment potential.
      1802 Morgan Ave, Corpus Christi, TX 78404
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    • $599,000
      18,680 SF

      Versatile Office and Retail Space

      Two-story commercial building with office and retail space on 0.54-acre lot.
      2001 S Staples St, Corpus Christi, TX 78404
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    • $220,000
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      Commercial Building with Bay Door

      Large commercial building with high visibility and ample parking.
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    • $155,000
      1,185 SF

      Versatile Commercial Space in Corpus

      Prime location with great street exposure and steady daily traffic.
      1510 Morgan Ave, Corpus Christi, TX 78404
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    • New
      $200,000
      1,394 SF

      Converted Home Zoned Commercial

      Commercial property near Downtown Corpus Christi, ideal for small business.
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    • $170,000
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      Corpus Christi Commercial Corner Lot

      Commercial property on corner lot with high visibility and easy access.
      1917 Ayers St, Corpus Christi, TX 78404
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    Similar Nearby for Lease

    • Contact for pricing
      64,858 SF

      Alameda Center Retail Spaces Available

      Corpus Christi storefront retail spaces, excellent location.
      3133 Alameda St, Corpus Christi, TX 78404
      View Details
    • $1.25 SF/Yr
      786 SF

      Retail Space in Bel Air

      Retail space available in Bel Air Shopping Center.
      2757-2777 S Staples St, Corpus Christi, TX 78404
      View Details
    • $9 SF/Yr
      20,522 SF

      Prime Retail/Office Space in Corpus Christi

      1,520 SF Office Space - Excellent Location
      1718 Alameda St, Corpus Christi, TX 78404
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    • $15 SF/Yr
      36,474 SF

      Belaire Shopping Center: Denton County Retail

      Prime Denton County Retail Space Available
      2700-2777 Staples St, Corpus Christi, TX 78404
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    • $1.25 SF/Yr
      558 SF

      Retail Space in Bel Air

      Retail space available in Bel Air Shopping Center.
      2741-2755 S Staples St, Corpus Christi, TX 78404
      View Details
    • New
      $1,500 /Mo
      1,005 SF

      Corpus Christi Commercial Gem

      Rare commercial property in vibrant Six Points area.
      1613 S Staples St, Corpus Christi, TX 78404
      View Details
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    1623 Morgan Ave
    Corpus Christi, TX 78404
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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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