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

    249 Prt Ave Corpus Christi, TX 78408-3831

    • Flex space
    • 5,040 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2023
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    8.3%
    Flex space
    Location Intelligence
    Property ID
    US82-0636881
    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

    • Flex space

    Property Details for 249 Prt Ave

    Year built
    1946
    Lot size
    0.45 lot acres
    Property size
    5,040 SF
    Zone code
    I-3
    Property type
    Flex space
    APN
    5741-0000-0060
    APU
    574100000060

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $440,000
      6.5%
      $405,000
      7%
      $375,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $245,000
      Current use
      RESTAURANT
      $515,000
      Change: +110% Conversion: Difficult
      OFFICE BUILDING
      $470,000
      Change: +93% Conversion: Difficult
      RETAIL STORES
      $390,000
      Change: +60% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $225,000
      Change: -7% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.4195
    Latitude
    27.7912
    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
    $2,573
    $48,808
    $71,915
    $120,723
    -
    $48,808
    $71,915
    $120,723

    Comparable in this City

    • Value Estimation
      $310,000
      1,896 SF

      3201 Antelope St

      LIGHT INDUSTRIAL • 1,896 SF
      3201 Antelope St, Corpus Christi, TX 78408-3101
      View Details
    • Value Estimation
      $285,000
      3,232 SF

      223 Prt Ave

      LIGHT INDUSTRIAL • 3,232 SF
      223 Prt Ave, Corpus Christi, TX 78408-3831
      View Details
    • Value Estimation
      $280,000
      800 SF

      245 Prt Ave

      LIGHT INDUSTRIAL • 800 SF
      245 Prt Ave, Corpus Christi, TX 78408-3831
      View Details
    • Value Estimation
      $375,000
      6,000 SF

      5741 Leopard St

      LIGHT INDUSTRIAL • 6,000 SF
      5741 Leopard St, Corpus Christi, TX 78408-2366
      View Details
    • Value Estimation
      $755,000
      23,490 SF

      1526 Padre Is Dr

      LIGHT INDUSTRIAL • 23,490 SF
      1526 Padre Is Dr, Corpus Christi, TX 78408-2349
      View Details
    • Value Estimation
      $275,000
      3,100 SF

      810 Savage Ln

      LIGHT INDUSTRIAL • 3,100 SF
      810 Savage Ln, Corpus Christi, TX 78408-2638
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      16,000 SF

      Corpus Christi Warehouse - 16,000 SF

      Prime Distribution Warehouse, 16,000 sq ft, Texas.
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    • $1,750,000
      2.50 Acres

      Corpus Christi Industrial Land

      2.5-Acre Commercial/Industrial Lot, Prime Location
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    • Contact for pricing
      16,000 SF

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      16,000 SF warehouse featuring offices, dock, and drive-in doors.
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    • $1,250,000
      11,900 SF

      Corpus Christi Warehouse with Fenced Lot

      11,900 SF warehouse with large yard and easy access.
      5118 Leopard St, Corpus Christi, TX 78408
      View Details
    • $15,000,000
      1,414,547 SF

      Large Warehouse Space For Sale

      1,414,547 SF warehouse with rail access in Corpus Christi.
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      Oilfield Services Warehouse with Crane

      Warehouse facility with showroom, offices, and storage yard.
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    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
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    • $10 SF/Yr
      2,500 SF

      Industrial Space Near Refineries

      2,500 SF industrial space with easy highway access.
      802 Navigation Blvd, Corpus Christi, TX 78408
      View Details
    • $7,500 /Mo
      6,951 SF

      Versatile Office/Warehouse Space Available

      Prime commercial industrial office/warehouse space for sale or lease.
      4601 Leopard St, 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
    • $8 SF/Yr
      28,400 SF

      Corpus Christi Warehouse - 28,400 SF

      11-Acre Industrial Warehouse; Excellent Access
      230 Omaha Dr, Corpus Christi, TX 78408
      View Details
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    Corpus Christi, TX 78408-3831
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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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