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

    2021 Padre Is Dr Corpus Christi, TX 78408-2231

    • Motels
    • 52,096 SF
    • 1.88 lot acres
    OFF-MARKET
    Last Sale
    Jun 11, 2020
    Value Estimations
    $445,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1283997
    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

    • Plaza Inn / Lodge / Hotel
    • Best Western Corpus Christi Airport Hotel / Hotel

    Property Details for 2021 Padre Is Dr

    Year built
    1984
    Lot size
    1.88 lot acres
    Property size
    52,096 SF
    Zone code
    B-4
    Property type
    Motels
    APN
    2230-0000-0910
    APU
    223000000910

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $445,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.469
    Latitude
    27.7986
    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
    $90,351
    $286,237
    $4,479,635
    $4,765,872
    -
    $286,237
    $4,479,635
    $4,765,872

    Comparable in this City

    • Value Estimation
      $705,000
      18,142 SF

      722 Prt Ave

      MOTEL • 18,142 SF
      722 Prt Ave, Corpus Christi, TX 78408-3952
      View Details
    • Value Estimation
      $575,000
      15,717 SF

      5525 Leopard St

      MOTEL • 15,717 SF
      5525 Leopard St, Corpus Christi, TX 78408-2356
      View Details
    • Value Estimation
      $425,000
      13,322 SF

      5423 Leopard St

      MOTEL • 13,322 SF
      5423 Leopard St, Corpus Christi, TX 78408-2508
      View Details
    • Value Estimation
      $795,000
      20,928 SF

      902 Navigation Blvd

      MOTEL • 20,928 SF
      902 Navigation Blvd, Corpus Christi, TX 78408
      View Details
    • Value Estimation
      $300,000
      9,260 SF

      5546 Leopard St

      MOTEL • 9,260 SF
      5546 Leopard St, Corpus Christi, TX 78408-2321
      View Details
    • Value Estimation
      $750,000
      40,408 SF

      929 Navigation Blvd

      MOTEL • 40,408 SF
      929 Navigation Blvd, Corpus Christi, TX 78408-2646
      View Details

    Similar Nearby for Sale

    • New
      $1,200,000
      Pending

      Former Hotel on 6.2 Acres

      Former hotel, rehabilitation center, and office building on 6.2 acres.
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    • $15,000,000
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      Large Warehouse Space For Sale

      1,414,547 SF warehouse with rail access in Corpus Christi.
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    • $522,720

      Prime Retail Land For Sale

      Land for sale or build to suit in prime retail area.
      2037 S Padre Island Dr, Corpus Christi, TX 78408
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    • $870,179
      3,011 SF

      Medical Space Investment Opportunity

      Zero landlord responsibilities, stable cash flow, and attractive basis.
      3505 Leopard St, Corpus Christi, TX 78408
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    • $1,200,000

      Oilfield Services Warehouse with Crane

      Warehouse facility with showroom, offices, and storage yard.
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    • $630,000
      16,681 SF

      Retail/Warehouse Space Near H-E-B

      Retail and warehouse space with redevelopment potential near major highway.
      620 Old Robstown Rd, Corpus Christi, TX 78408
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      10,388 SF

      905 Cantwell Ln: Office & Warehouse

      Versatile Office/Warehouse Space Available
      905 Cantwell Ln, Corpus Christi, TX 78408
      View Details
    • $0.92 SF/Yr
      13,000 SF

      Corpus Christi Industrial Gem

      13,000 SF Office/Warehouse, 0.93 Acres
      4702 Baldwin Blvd, Corpus Christi, TX 78408
      View Details
    • $6,800 /Mo
      6,200 SF

      Industrial Warehouse with Large Yard

      Remodeled industrial warehouse with a large fenced yard for rent.
      818 Navigation Blvd, Corpus Christi, TX 78408
      View Details
    • Contact for pricing

      3-Acre Commercial Land in Corpus Christi

      Ideal industrial land; perfect for storage or distribution.
      5338 Leopard St, Corpus Christi, TX 78408
      View Details
    • $9 SF/Yr
      12,424 SF

      349 Mcbride Ln

      Distribution properties • 12,424 SF
      349 Mcbride Ln, Corpus Christi, TX 78408
      View Details
    • $8 SF/Yr
      13,500 SF

      Corpus Christi Warehouse For Lease

      13,500 SF Warehouse, Ideal Location
      4202 Russell Dr, Corpus Christi, TX 78408
      View Details
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    Corpus Christi, TX 78408-2231
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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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