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

    3601 Morgan Ave Corpus Christi, TX 78405

    • Bars
    • 1,229 SF
    • 0.20 lot acres
    For Sale
    View listing
    $174,900
    Last Sale
    Sep 07, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3526445
    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

    • Los Nuevos Amigos / Bar

    Property Details for 3601 Morgan Ave

    Year built
    1940
    Lot size
    0.20 lot acres
    Property size
    1,229 SF
    Zone code
    B-4
    Property type
    Bars
    Property subtype
    Pubs
    APN
    0073-0000-0015
    APU
    7300000015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $170,000
      Current use
      OFFICE BUILDING
      $210,000
      Change: +24% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $180,000
      Change: +7% Conversion: Easy
      MEDICAL BUILDING
      $155,000
      Change: -9% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $145,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.4312
    Latitude
    27.7765
    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
    $1,899
    $44,698
    $44,444
    $89,142
    -
    $44,698
    $44,444
    $89,142

    Comparable in this City

    • Value Estimation
      $265,000
      1,072 SF

      2521 Greenwood Dr

      BAR, TAVERN • 1,072 SF
      2521 Greenwood Dr, Corpus Christi, TX 78405-2124
      View Details
    • Value Estimation
      $275,000
      3,475 SF

      3824 Morgan Ave

      BAR, TAVERN • 3,475 SF
      3824 Morgan Ave, Corpus Christi, TX 78405-3128
      View Details
    • Value Estimation
      $255,000
      6,800 SF

      3015 Morgan Ave

      BAR, TAVERN • 6,800 SF
      3015 Morgan Ave, Corpus Christi, TX 78405-2144
      View Details
    • Value Estimation
      $250,000
      2,270 SF

      2845 Prt Ave

      BAR, TAVERN • 2,270 SF
      2845 Prt Ave, Corpus Christi, TX 78405-2067
      View Details
    • Value Estimation
      $255,000
      864 SF

      3115 Morgan Ave

      BAR, TAVERN • 864 SF
      3115 Morgan Ave, Corpus Christi, TX 78405-2146
      View Details
    • Value Estimation
      $105,000
      1,235 SF

      3054 Greenwood Dr

      BAR, TAVERN • 1,235 SF
      3054 Greenwood Dr, Corpus Christi, TX 78405-2408
      View Details

    Similar Nearby for Sale

    • $174,900
      1,229 SF

      Operating Corner Bar in Corpus

      Commercial property operating as a neighborhood bar with tenant.
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    • $950,000
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      Retail Property with Renewal Option

      Retail property with tenant renewal and recent renovations.
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      Corpus Christi Retail/Warehouse Building

      Well-maintained commercial building in Corpus Christi's inner-city commercial corridor.
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    • Contact for pricing
      2.07 Acres

      South Padre Business Park Land

      Affordable SPID frontage land, ideal for various businesses.
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      1.48 Acres

      Prime 1.48-Acre Commercial Land

      Central Corpus Christi development opportunity. High visibility, excellent access.
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    • Contact for pricing
      39,846 SF

      Corpus Christi Industrial Net Lease

      Modern, 39,846 SF manufacturing facility, 7.3 years remaining lease.
      4202 Santa Elena St, Corpus Christi, TX 78405
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      1,505 SF

      Retail Building with Drive-Thru Potential

      Retail space available for lease with build-to-suit options.
      3401 Baldwin Blvd, Corpus Christi, TX 78405
      View Details
    • $8 SF/Yr
      12,621 SF

      Industrial Space Near Corpus Christi Port

      Industrial warehouse space with covered dock and multiple overhead doors.
      1524 N Port Ave, Corpus Christi, TX 78405
      View Details
    • $15 SF/Yr
      2,500 SF

      Shared Office Space Available

      Shared office space with multiple offices, conference room, and breakroom.
      5826 Bear Ln, Corpus Christi, TX 78405
      View Details
    • Contact for pricing
      12,000 SF

      12,000 SF Warehouse - Nueces County

      Spacious Warehouse, Ready for Occupancy
      5560 Bates Rd, Corpus Christi, TX 78405
      View Details
    • $850 /Mo
      1,912 SF

      Updated One Bedroom Unit

      Recently updated one-bedroom unit with included utilities for rent.
      2321 David St, Corpus Christi, TX 78405
      View Details
    • $1.60 SF/Yr
      1,215 SF

      Clean Office Space Available

      Well-kept office space with abundant free parking.
      410 S Padre Island Dr, Corpus Christi, TX 78405
      View Details
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    3601 Morgan Ave
    Corpus Christi, TX 78405
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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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