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

    701 Park Ave, Unit 2 Corpus Christi, TX 78401-3420

    • Office buildings
    • 1,917 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Dec 18, 2023
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-5423327
    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

    • Witold Drozdowski, LPT / Physical Therapist / Physical Therapy Clinic
    • Monica Lucido-Clay / Physical Therapist

    Property Details for 701 Park Ave

    Year built
    1966
    Lot size
    0.32 lot acres
    Property size
    1,917 SF
    Zone code
    AB
    Property type
    Office buildings
    APN
    8172-0002-0021
    APU
    817200020021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $490,000
      6.5%
      $450,000
      7%
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $206,000
      Market price range: $57.5k - $210k

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $230,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.3987
    Latitude
    27.786
    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
    $5,197
    $103,433
    $140,409
    $243,842
    -
    $103,433
    $140,409
    $243,842

    Comparable in this City

    • Value Estimation
      $955,000
      413,429 SF

      615 Uppr Broadway St

      OFFICE BUILDING • 413,429 SF
      615 Uppr Broadway St, Corpus Christi, TX 78401-0799
      View Details
    • Value Estimation
      $870,000
      131,533 SF

      402 Hbr Dr

      OFFICE BUILDING • 131,533 SF
      402 Hbr Dr, Corpus Christi, TX 78401-1115
      View Details
    • Value Estimation
      $730,000
      178,547 SF

      606 Carancahua St, Unit 9-10

      OFFICE BUILDING • 178,547 SF
      606 Carancahua St, Corpus Christi, TX 78401-0699
      View Details
    • Value Estimation
      $335,000
      7,000 SF

      2001 Prt Ave

      OFFICE BUILDING • 7,000 SF
      2001 Prt Ave, Corpus Christi, TX 78401-1205
      View Details
    • Value Estimation
      $245,000
      1,472 SF

      1001 Comanche St

      OFFICE BUILDING • 1,472 SF
      1001 Comanche St, Corpus Christi, TX 78401-2718
      View Details
    • Value Estimation
      $295,000
      9,750 SF

      401 Shoreline Blvd

      OFFICE BUILDING • 9,750 SF
      401 Shoreline Blvd, Corpus Christi, TX 78401-2527
      View Details

    Similar Nearby for Sale

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      Corpus Christi Mixed-Use Buildings

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      Downtown Corpus Christi Redevelopment Opportunity

      Historical building in downtown Corpus Christi with redevelopment potential.
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    • $350,000
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      Commercial building with residential features, rebuilt with high-end finishes.
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      Move-in ready office space with stunning bay and skyline views.
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      Downtown Office Building For Sale

      21,000 SF office space in downtown Corpus Christi.
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      View Details

    Similar Nearby for Lease

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      $5,100 /Mo
      2,248 SF

      Downtown Corpus Christi Commercial Space

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    • $12 SF/Yr
      5,000 SF

      Corpus Christi Office & Warehouse Space

      Versatile Office/Warehouse, 5,000-7,000 SF
      623 Power St, Corpus Christi, TX 78401
      View Details
    • $24 SF/Yr
      80,000 SF

      Bay Building: Downtown Corpus Christi Office

      Prime Downtown Corpus Christi Office Space
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      View Details
    • Contact for pricing
      3,580 SF

      Renovated Historical Building with Views

      Completely renovated historical building offering scenic views for lease.
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      View Details
    • $3,200 /Mo
      14,095 SF

      Functional Office Suite in Corpus

      Well-appointed office suite with functional layout in historic building.
      921 N Chaparral St, Corpus Christi, TX 78401
      View Details
    • $9 SF/Yr
      8,000 SF

      Corpus Christi Office Duplex

      8,000 SF Office Space, Two Suites Available
      827 Tancahua St, Corpus Christi, TX 78401
      View Details
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    701 Park Ave, Unit 2
    Corpus Christi, TX 78401-3420
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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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