Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    2696 Bishop Corpus Christi, TX 78415

    • Grocery and convenience stores
    • 2,000 SF
    • 2.00 lot acres
    For Sale
    View listing
    $240,000
    Last Sale
    Jun 08, 2021
    Value Estimations
    Cap Rate Potential
    9.1%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US82-8304601
    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

    • Grocery and convenience stores

    Property Details for 2696 Bishop

    Year built
    1960
    Lot size
    2.00 lot acres
    Property size
    2,000 SF
    Zone code
    OCL
    Property type
    Grocery and convenience stores
    APN
    0284-0020-0600
    APU
    28400200600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $430,000
      6.5%
      $395,000
      7%
      $370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $189,000
      Market price range: $190k - $272k

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.5848
    Latitude
    27.6882
    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
    $953
    $34,848
    $38,033
    $72,881
    -
    $34,848
    $38,033
    $72,881

    Comparable in this City

    • Value Estimation
      $280,000
      2,058 SF

      3202 Tiger Ln

      CONVENIENCE STORE • 2,058 SF
      3202 Tiger Ln, Corpus Christi, TX 78415-3135
      View Details
    • Value Estimation
      $365,000
      3,815 SF

      4817 Ayers St

      CONVENIENCE STORE • 3,815 SF
      4817 Ayers St, Corpus Christi, TX 78415-1407
      View Details
    • Value Estimation
      $315,000
      2,547 SF

      4045 Ayers St

      CONVENIENCE STORE • 2,547 SF
      4045 Ayers St, Corpus Christi, TX 78415-4641
      View Details
    • Value Estimation
      $285,000
      2,450 SF

      3102 Ayers St

      CONVENIENCE STORE • 2,450 SF
      3102 Ayers St, Corpus Christi, TX 78415-4604
      View Details
    • Value Estimation
      $305,000
      3,230 SF

      5641 Carroll Ln

      CONVENIENCE STORE • 3,230 SF
      5641 Carroll Ln, Corpus Christi, TX 78415-3210
      View Details
    • Value Estimation
      $355,000
      2,946 SF

      3201 Padre Is Dr

      CONVENIENCE STORE • 2,946 SF
      3201 Padre Is Dr, Corpus Christi, TX 78415-2902
      View Details

    Similar Nearby for Sale

    • $7,500,000
      24,560 SF

      London Square Plaza: Corpus Christi

      High-Yield Retail Investment, 100% Leased
      1290 Fm 43, Corpus Christi, TX 78415
      View Details
    • Contact for pricing
      3,200 SF

      Retail Space on Busy Highway

      3,200 SF retail space on a quarter acre lot.
      2705 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • $2,450,000
      12,748 SF

      Ayers Street Multi-Use Facility

      Multi-use facility on Ayers near Saratoga, built in 2013.
      6110 Ayers St, Corpus Christi, TX 78415
      View Details
    • $225,000
      1,750 SF

      Commercial Property with Auto Repair

      Two buildings, one vacant, one leased for car repair.
      4518 Ayers St, Corpus Christi, TX 78415
      View Details
    • New
      $429,000
      6,012 SF

      Mixed-Use Building with Commercial Lot

      6,000 SF mixed-use building on a 14,000 SF lot.
      4001 Ayers St, Corpus Christi, TX 78415
      View Details
    • $240,000
      2,000 SF

      Commercially Zoned Property on FM 665

      2-acre commercially zoned property near Corpus Christi with high visibility.
      2696 Bishop, Corpus Christi, TX 78415
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      10,000 SF

      Showroom and Warehouse Space Available

      8,000 SF showroom and 2,000 SF warehouse space for lease.
      2650-2702 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • $8,910 /Mo
      4,950 SF

      Versatile Commercial Space in London Area

      Prime 4,950 sq ft commercial unit in Corpus Christi.
      2510 London Pirate 33, Corpus Christi, TX 78415
      View Details
    • $2,200 /Mo
      1,350 SF

      Commercial Space on Kostoryz Road

      Ground floor commercial space for lease in high-traffic area.
      5902 Kostoryz St, Corpus Christi, TX 78415
      View Details
    • $2,500 /Mo
      1,400 SF

      Retail Space on SPID Expressway

      Retail space with great visibility on South Padre Island Drive.
      3403 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • $3,000 /Mo
      2,300 SF

      Corpus Christi Retail Space Available

      Retail space available for lease in Corpus Christi, Texas.
      3403 S Padre Island Dr, Corpus Christi, TX 78415
      View Details
    • $35 SF/Yr
      2,028 SF

      Corpus Christi Auto Dealership Lease

      High-traffic corner lot, excellent condition.
      3420 Padre Island Dr, Corpus Christi, TX 78415
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2696 Bishop
    Corpus Christi, TX 78415
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.