9512 S Padre Island Dr Corpus Christi, TX 78418

Property Details for 9512 S Padre Island Dr

Year built

2016

Lot size

0.43 lot acres

Property size

4,200 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

8934-0001-0011

APU

893400010011

Description

This Corpus Christi, Texas property, located at 9512 S Padre Island Dr, offers 4,000 square feet of space in a single-story, 2016-built building (renovated in 2022) on a 18,824 sq ft lot. The building is zoned B-3 and features 19 parking spaces. Currently, one of the four units is occupied under a 5-year NNN lease (commencing August 27, 2019) with a 3% annual rent bump. The asking price is $799,000 ($199.75/sq ft), representing a value-add opportunity with a 25% occupancy rate (full occupancy projected by October 21, 2024). The property boasts 143 feet of frontage on high-traffic South Padre Island Drive, providing excellent visibility. This location benefits from a strong retail market with low vacancy rates (3.2%) and steady rent growth. The Flour Bluff/Padre Island submarket shows positive absorption of retail spaces and significant recent sales volume. Corpus Christi's robust economy, driven by the Port of Corpus Christi and various industries, further enhances the investment potential. The property's net rentable area is 3,000 square feet. The property is a fee simple ownership with no ground lease. The lease type is NNN, and there is no tenant credit rating available.