361 Commercial St Aransas Pass, TX 78336-1917

Property Details for 361 Commercial St

Year built

1960

Lot size

0.16 lot acres

Property size

3,355 SF

Property type

Commercial real estate

APN

0011-0550-0015-002

APU

1105500015002

Description

This exceptional investment opportunity presents a 6,500 square foot, fully-leased retail shopping center in Aransas Pass, Texas. Built in 2013, this two-story, single-building property sits on a 0.76-acre lot at 361 S Commercial St, 78336, and boasts five tenants under gross lease agreements. The property enjoys a 9% cap rate with a current NOI of $67,084, and an asking price of $750,000. Current rents are below market, offering significant potential for rental increases. The property benefits from a high-traffic location, exceeding 22,000 cars daily, situated on a signalized corner adjacent to a major grocery store and gas station. This prime location within the Corpus Christi MSA ensures strong tenant demand and consistent traffic. Two tenants also contribute billboard income under long-term leases. The majority of leases are short-term, providing immediate opportunities to capitalize on market rent increases. This presents a compelling investment opportunity with strong potential for future growth and profitability. The property's location within the thriving Corpus Christi MSA, combined with its high occupancy rate and below-market rents, makes it an attractive investment for discerning buyers.

Location Insight

City

Aransas Pass

County

San Patricio

State

Texas

Longitude

-97.1457

Latitude

27.9024

CBSA code

18580

CBSA name

CORPUS CHRISTI, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments