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    1949 S Padre Island Dr Corpus Christi, TX 78416
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    1949 S Padre Island Dr Corpus Christi, TX 78416

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    • Turn key restaurants
    • 6,670 SF
    • 2.09 lot acres
    For Sale
    $3,275,000
    View Listing →
    Retail For Sale
    $3,275,000
    6,670 SF

    Retail

    Conventional restaurants · 6,670 SF

    1949 S Padre Island Dr, Corpus Christi, TX 78416
    View Listing
    Property ID
    US82-2158124
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Fuddruckers / Restaurant

    Property Details for 1949 S Padre Island Dr

    Year built
    2004
    Lot size
    2.09 lot acres
    Property size
    6,670 SF
    Zone code
    B-4
    Property type
    Turn key restaurants
    APN
    8340-0003-0100
    APU
    834000030100

    Description

    This exceptional investment opportunity presents a 6,670-square-foot restaurant building situated on a 2.089-acre lot in Corpus Christi, Texas. Built in 2004, the single-story structure currently houses a restaurant and offers significant potential for various uses. The property boasts a strategic location on South Padre Island Drive (SPID), enjoying high visibility and convenient access. Approximately 1.38 acres are occupied by the existing restaurant building, leaving an additional approximately 30,927 square feet of land available for development. This excess land, fronting SPID, presents a unique opportunity for ground lease or pad site sale, offering substantial additional income potential. The property benefits from excellent cross-access with Walmart and neighboring businesses, ensuring high traffic flow and customer visibility. The asking price is $3,275,000, translating to $491 per square foot. The current tenant lease details are available upon request. This property offers the flexibility for continuation of the existing lease or owner-occupancy, making it an attractive option for both investors and owner-operators seeking a prime location in a thriving commercial area. The property's location in Nueces County, Texas, with a zip code of 78416, provides easy access to major transportation routes and a strong local market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $590,000
      Current use
      OFFICE BUILDING
      $815,000
      Change: +38% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $800,000
      Change: +35% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $755,000
      Change: +28% Conversion: Easy
      RETAIL STORES
      $520,000
      Change: -12% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.4359
    Latitude
    27.7384
    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
    $44,416
    $727,792
    $1,358,623
    $2,086,415
    -
    $727,792
    $1,358,623
    $2,086,415

    Comparable in this City

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      4013 Prescott St

      RESTAURANT • 7,085 SF
      4013 Prescott St, Corpus Christi, TX 78416-1255
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      6,080 SF

      2001 Padre Is Dr

      RESTAURANT • 6,080 SF
      2001 Padre Is Dr, Corpus Christi, TX 78416-1142
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    • Value Estimation
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      9,618 SF

      1921 Padre Is Dr

      RESTAURANT • 9,618 SF
      1921 Padre Is Dr, Corpus Christi, TX 78416-1342
      View Details
    • Value Estimation
      $530,000
      7,749 SF

      2029 Padre Is Dr

      RESTAURANT • 7,749 SF
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    • Value Estimation by Request
      3,184 SF

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      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,670 SF

      1949 S Padre Island Dr, Corpus Christi, TX 78416

      Conventional restaurants • 6,670 SF
      1949 S Padre Island Dr, Corpus Christi, TX 78416
      View Details
    • $3,500,000
      6,670 SF

      Operating Restaurant on SPID Frontage

      Income-producing restaurant with development upside in high-traffic location.
      1949 S Padre Island Dr, Corpus Christi, TX 78416
      View Details
    • Contact for pricing
      2,130 SF

      Retail Space with Drive-Through

      Retail property featuring offices, storage, and drive-through capabilities.
      1928 N Padre Island Dr, Corpus Christi, TX 78416
      View Details
    • $1,300,000
      2,500 SF

      Corpus Christi Turnkey Mechanic's Garage

      Mechanic's garage or industrial operation with high visibility and frontage.
      1169 S Padre Island Dr, Corpus Christi, TX 78416
      View Details
    • $1,300,000
      2,500 SF

      Established Mechanic's Garage For Sale

      Turnkey mechanic's garage with high visibility and flexible commercial potential.
      1169 S Padre Island Dr, Corpus Christi, TX 78416
      View Details
    • $7,000,000
      5,000 SF

      Commercial Building on Padre Island Drive

      5,000 SF commercial building with parking and frontage road access.
      1157 S Padre Island Dr, Corpus Christi, TX 78416
      View Details
    View Listing
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    Corpus Christi, TX 78416
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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.

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