726 Padre Island Dr Corpus Christi, TX 78406

Property Details for 726 Padre Island Dr

Year built

2021

Lot size

3.75 lot acres

Property size

13,500 SF

Property type

Industrial properties

APN

7434-0002-0010

APU

743400020010

Description

This exceptional investment opportunity presents a 15,000-square-foot warehouse situated within the Kingpin Industrial Park in Corpus Christi, Texas. Built in 2021, this single-story building boasts a desirable location with highway frontage, offering direct access to both N. Padre Island Drive and Flato Road. The property features approximately 3,000 square feet of office space, 10,500 square feet of warehouse space, and a 1,500-square-foot wash bay. The warehouse is equipped with robust infrastructure, including 480V 3-phase 600 AMP power, ten 14' x 16' electric overhead doors, and a 5-ton crane with 150' of travel. The expansive 3.749-acre lot is fully fenced and features a concrete paved yard. Currently leased to a quality national tenant under a long-term NNN lease agreement with 3.5% annual rent increases, this property offers a strong net operating income (NOI) of $289,230 and an attractive 5.51% cap rate. The asking price is $5,250,000. The property is zoned for light industrial use (IL), making it suitable for a variety of industrial operations. This is a rare opportunity to acquire a high-quality, income-producing industrial property in a prime Corpus Christi location. The property's size, features, and tenant occupancy make it an ideal addition to any investment portfolio. The APN is 7434-0002-0010.