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Property profile & analytics
OFF-MARKET
Estimated value
$3,000,000
Medical Office Space
2922 Morgan Ave 2 Corpus Christi, TX 78405-2141
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US82-7314024
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2016
Total area
16,175 SF
Lot
2.13 ac (92,609 SF)
APN
6930-0000-0020
UPID
US82-7314024
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
WellMed at Morgan Medical Clinic
-
Abimael Perez, MD Pediatrician Physician
-
Manuel Garcia, NP Physician
-
Mary Frances Cantu, NP Physician
-
Jennifer Hanh La, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.91M
Comparable Approach
Comparable
$3.09M
Blend (final)
Blend
$3.00M
Owner & transaction history
A M Perez Holdings LLP · 3 yrs held
A M Perez Holdings LLP
since 2022
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.8M
+36.2%
Commercial (general)
$2.4M
+17.8%
Restaurant
$2.2M
+9.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Corpus Christi submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Corpus Christi submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,145,000
6.5%
$2,905,000
7%
$2,695,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,030,000
Current use
OFFICE BUILDING
$2,765,000
Change: +36% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,390,000
Change: +18% · Conversion: Easy
RESTAURANT
$2,230,000
Change: +10% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,935,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$3.00M
Range $2.70M – $3.30M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$185 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$122,486
Tax year 2023
Assessed value
$5,757,038
Assessed 2024
Previous assessed
$5,747,084
+0.2% YoY
Effective rate
2.13%
On assessed value
Assessed land
$486,124
Assessed improvement
$5,270,914
Land market value
$486,124
Improvement market value
$5,270,914
Total market value
$5,757,038
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2016
Heating
NONE
Total area
16,175 SF
Lot
2.13 ac (92,609 SF)
APN
6930-0000-0020
UPID
US82-7314024
Jurisdiction
NUECES
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$2.0M
OFFICE BUILDING
Est. value
$2.8M
COMMERCIAL (GENERAL)
Est. value
$2.4M
RESTAURANT
Est. value
$2.2M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Heating
NONE
Lot
2.13 ac
Current owner
From public records · entity-resolved
A M Perez Holdings LLP
Entity
Mailing address
2922 MORGAN AVE, CORPUS CHRISTI, TX 78405-2141
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2022
—
A M Perez Holdings LLP
Abimael Perez
Correction Deed
related
$2,387,027 · Plainscapital Bank
May 18, 2020
—
Am Perez Holdings LLC
Pt Family Holdings LLC
Warranty Deed
related
—
Mar 30, 2020
—
Pt Family Holdings LLC
—
Deed
related
$2,593,130 · Wells Fargo Bk
May 5, 2016
—
Pt Family Holdings LLC
—
Deed
related
$2,593,130 · Wells Fargo Bk
Jan 12, 2015
—
Pt Family Holdings LLC
A M Perez Holdings LLP
Warranty Deed
$2,650,000 · Prosperity Bank
Oct 31, 2014
—
A M Perez Holding LLP
Cross Timbers Steakhouse INC
Grant Deed
related
—
Aug 28, 2013
—
A P Perez Holding LLP
Cross Timbers Steakhouse INC
Warranty Deed
—
Jun 30, 2011
—
Cross Timbers Steakhouse INC
Imagine Properties LLC
Warranty Deed
—
—
—
Pt Family Holdings LLC
—
Deed Of Trust
related
$2,593,130 · Wells Fargo Bk
—
—
Pt Family Holdings LLC
—
Loan Modification
related
$1,474,746 · Prosperity Bk
—
—
Pt Family Holdings LLC
—
Loan Modification
related
$2,593,130 · Wells Fargo Bk
—
—
Imagine Properties LLC
—
Deed Of Trust
related
$235,000 · American Bank
—
—
Imagine Properties LLC
—
Deed Of Trust
related
$236,473 · American Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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