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    9605 Padre Is Dr Corpus Christi, TX 78418-5127
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    Property profile & analytics

    9605 Padre Is Dr, Corpus Christi, TX 78418-5127

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    • Amusement parks
    • 16,290 SF
    • 9.49 lot acres
    Off-Market
    Property ID
    US82-5344968
    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.
    Value Estimations
    $645,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • In The Game Funtrackers / Restaurant

    Property Details for 9605 Padre Is Dr

    Year built
    2000
    Lot size
    9.49 lot acres
    Zone code
    B-3
    Property type
    Amusement parks
    APN
    0970-0001-0010
    APU
    97000010010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 31, 2024 — Casavana Investments LLC — Deed · related $2.7M · Simmons Bank
    Dec 7, 2018 — Casavana Investments LLC — Deed · related $700k · Plainscapital Bk
    Jun 12, 2017 — Casavana Investments LLC — Deed · related $2M · Plainscapital Bk
    Jun 1, 2017 — Casavana Investments LLC Mcgrath,mikel Grant Deed —
    Jul 16, 2012 — Casavana Investments LLC Mcgrath,mikel Warranty Deed —
    Aug 11, 2010 — Mikel S Mcgrath Ft Land Ltd Warranty Deed $1.7M · Compass Bank
    Jan 18, 2005 — Ft Property Management LLC — Trustees Deed · related $80k · United Bank
    — — Casavana Investments LLC — Deed Of Trust · related $700k · Plainscapital Bk
    — — Ft Land Ltd — Deed Of Trust · related $400k · United Bank
    — — F T Land Ltd — Deed Of Trust · related $267k · Ronald T Macwhorter
    — — Ft Land Ltd — Deed Of Trust · related $1.3M · Ronald T Macwhorter
    — — Casavana Investments LLC — Deed Of Trust · related $2M · Plainscapital Bk
    — — Ft Land Ltd — Deed Of Trust · related $1.9M · United Bank
    — — Ft Properties Ltd — Deed Of Trust · related $1.9M · United Bank
    — — F T Property Management LLC — Deed Of Trust · related $1.8M · United Bank
    — — Ft Land Ltd — Deed Of Trust · related $955k · United Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $645,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.2964
    Latitude
    27.6734
    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
    $85,566
    $2,397,122
    $1,996,055
    $4,393,177
    -
    $2,397,122
    $1,996,055
    $4,393,177

    Comparable in this City

    • Value Estimation
      $825,000
      39,594 SF

      1601 Flour Blf Dr

      ARCADES (AMUSEMENT)
      1601 Flour Blf Dr, Corpus Christi, TX 78418-5203
      View Details
    • Value Estimation by Request
      15,000 SF

      1517 Glenoak Dr

      ARENA, CONVENTION CENTER
      1517 Glenoak Dr, Corpus Christi, TX 78418-8900
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    • Value Estimation by Request

      9200 Padre Island Dr

      Land
      9200 Padre Island Dr, Corpus Christi, TX 78418
      View Details
    • Value Estimation by Request
      49,600 SF

      Waldron Rd

      Land
      0 Waldron Rd, Corpus Christi, TX 78418
      View Details
    • Value Estimation by Request
      0.02 Acres

      738 Behmann St

      VACANT COMMERCIAL LAND
      738 Behmann St, Corpus Christi, TX 78418
      View Details
    • Value Estimation by Request
      0.16 Acres

      725 Behmann St

      VACANT COMMERCIAL LAND
      725 Behmann St, Corpus Christi, TX 78418
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      33,000 SF

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      View Details
    • $45,000
      0.17 Acres

      Residential Land in Flour Bluff

      0.17-acre property in Flour Bluff, minutes from the beach.
      2009 Sunglo Dr, Corpus Christi, TX 78418
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    • $1,500,000
      0.40 Acres

      Residential Corner Lot Near Beach

      Large residential lot near community boat ramp and North Padre beaches.
      15002 Aruba Dr, Corpus Christi, TX 78418
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    • $2,100,000
      35.00 Acres

      Corpus Christi Land Near King Ranch

      Approximately 35 acres of land adjoining the King Ranch.
      Waldron Rd, Corpus Christi, TX 78418
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    • $60,000
      0.17 Acres

      Residential Lot Near Marina

      Residential land for sale near Laguna Madre in Corpus Christi.
      3934 Herring Dr, Corpus Christi, TX 78418
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    Similar Nearby for Lease

    • $3,000 /Mo
      4,500 SF

      North Flour Bluff Commercial Building

      4500 SF commercial building in North Flour Bluff for lease.
      510 Nas St, Corpus Christi, TX 78418
      View Details
    • $6,000 /Mo
      5,700 SF

      Flour Bluff Commercial Garage/Shop

      Well-maintained garage/shop ideal for automotive, marine, or light industrial.
      428/434 Anchor St, Corpus Christi, TX 78418
      View Details
    • Contact for pricing
      913 SF

      Remodeled Office Space For Rent

      Remodeled office space with high visibility and easy access.
      14602 S Padre Island Dr, Corpus Christi, TX 78418
      View Details
    • $850 /Mo
      3,768 SF

      North Padre Island Office Space

      Three-story office building on North Padre Island available for lease.
      14725 S Padre Island Dr, Corpus Christi, TX 78418
      View Details
    • Contact for pricing
      2,258 SF

      Well-Kept Office Building Available

      Office building suitable for many uses, for lease.
      14941 S Padre Island Dr, Corpus Christi, TX 78418
      View Details
    • Contact for pricing
      2,258 SF

      Well-Kept Office Building For Rent

      Office building suitable for many uses, owner would consider selling.
      14937 S Padre Island Dr, Corpus Christi, TX 78418
      View Details
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    Corpus Christi, TX 78418-5127
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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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