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    Property profile & analytics

    2119 State Hwy 361 Port Aransas, TX 78373-4801

    • Warehouses
    • 12,275 SF
    • 1.02 lot acres
    OFF-MARKET
    Last Sale
    Oct 06, 2022
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0360492
    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

    • Warehouses

    Property Details for 2119 State Hwy 361

    Year built
    2003
    Lot size
    1.02 lot acres
    Property size
    12,275 SF
    Zone code
    T/REC
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    8087-0001-0020
    APU
    808700010020

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $717,000
      Market price range: $296k - $718k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $470,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Port Aransas
    County
    Nueces
    State
    Texas
    Longitude
    -97.0745
    Latitude
    27.8161
    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
    $21,119
    $1,334,070
    $638,221
    $1,972,291
    -
    $1,334,070
    $638,221
    $1,972,291

    Comparable in this City

    • Value Estimation by Request
      12,416 SF

      2035 State Hwy 361

      MINI-WAREHOUSE, STORAGE • 12,416 SF
      2035 State Hwy 361, Port Aransas, TX 78373-4993
      View Details
    • Value Estimation
      $670,000
      5,160 SF

      1200 6th St

      MINI-WAREHOUSE, STORAGE • 5,160 SF
      1200 6th St, Port Aransas, TX 78373-4352
      View Details
    • Value Estimation
      $1,470,000
      53,180 SF

      723 Ave A A

      MINI-WAREHOUSE, STORAGE • 53,180 SF
      723 Ave A A, Port Aransas, TX 78373-4112
      View Details
    • Value Estimation by Request
      1,602 SF

      439 Alister St

      WAREHOUSE, STORAGE • 1,602 SF
      439 Alister St, Port Aransas, TX 78373-4010
      View Details
    • Value Estimation by Request
      3,172 SF

      107 Cut Off Rd

      WAREHOUSE, STORAGE • 3,172 SF
      107 Cut Off Rd, Port Aransas, TX 78373-4220
      View Details
    • Value Estimation
      $17,625,000
      13,200 SF

      4383 State Hwy 361

      WAREHOUSE, STORAGE • 13,200 SF
      4383 State Hwy 361, Port Aransas, TX 78373-5060
      View Details

    Similar Nearby for Sale

    • $700,000
      0.14 Acres

      Port Aransas Beachfront Homesite Opportunity

      Beachfront homesite in Old Town Port Aransas with Gulf views.
      735 Chapman Cv, Port Aransas, TX 78373
      View Details
    • $365,000
      0.09 Acres

      Homesite Near Palmilla Beach Golf

      Corner lot near golf course with beach and Gulf access.
      102 Yaupon Ln, Port Aransas, TX 78373
      View Details
    • $340,000
      0.11 Acres

      Homesite in Palmilla Beach

      Homesite in Palmilla Beach with access to community amenities.
      720 Sunset Ave, Port Aransas, TX 78373
      View Details
    • $425,000
      0.12 Acres

      Port Aransas Beachfront Homesite Opportunity

      Homesite in prime location near beach, pier, and restaurants.
      723 Chapman Cv, Port Aransas, TX 78373
      View Details
    • $1,300,000
      1.00 Acre

      Beachfront Land Zoned for Rentals

      One-acre beachfront property in Port Aransas, zoned for short-term rentals.
      2924 On The Beach Dr, Port Aransas, TX 78373
      View Details
    • $315,000
      0.11 Acres

      Vacant Lot in Palmilla Beach Resort

      Prime vacant lot for custom resort-style vacation home.
      618 Sunset Ave, Port Aransas, TX 78373
      View Details

    Similar Nearby for Lease

    • $4,250 /Mo
      420 SF

      Port Aransas Boat Storage Facility

      Secure boat and equipment storage in Port Aransas, Texas.
      332 6Th St, Port Aransas, TX 78373
      View Details
    • Contact for pricing

      Port Aransas Commercial Land Lease

      Prime Beachfront Commercial Land, 2.43 Acres
      0 State Highway 361, Port Aransas, TX 78373
      View Details
    • Contact for pricing
      1,020 SF

      Furnished Coastal Home with Garage

      Furnished 2 bed, 2 bath Port Aransas home for rent.
      1117 S 9Th St, Port Aransas, TX 78373
      View Details
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    Port Aransas, TX 78373-4801
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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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