518 Peoples St Corpus Christi, TX 78401-2320

Property Details for 518 Peoples St

Year built

1932

Lot size

0.20 lot acres

Property size

7,921 SF

Property type

Office buildings

APN

0540-0019-0120

APU

54000190120

Description

This exceptional mixed-use property, located at 518 Peoples St in downtown Corpus Christi, Texas, presents a compelling investment opportunity. The 10,121 square foot building, situated on a single lot with APN 191764, is a two-story structure offering a blend of executive office, storefront, and traditional office spaces. Currently, the building boasts 22.5% occupancy with two quality tenants leasing a combined 2,774 square feet across two separate units, each with its own exterior access. These units feature dedicated amenities. The remaining space is currently occupied by the seller, who is open to a leaseback arrangement at fair market value plus NNN charges or will vacate to accommodate a buyer's preferences. The building's features include seven bathrooms (one with a shower), multiple break rooms, a kitchen, a welcoming lobby, and a convenient eight-car internal garage with overhead door access. The property is zoned for commercial use and offers significant potential for increased occupancy and revenue. This is a rare opportunity to acquire a well-maintained, mixed-use building in a vibrant downtown location. The asking price is $850,000, translating to $83.98 per square foot. The property consists of three units within one building. This prime location in Nueces County, Texas, offers easy access to local amenities and businesses.