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    Property profile & analytics

    9929 Padre Is Dr Corpus Christi, TX 78418-5105

    • Strip malls
    • 18,380 SF
    • 1.48 lot acres
    OFF-MARKET
    Last Sale
    Apr 01, 2022
    Value Estimations
    $895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0231895
    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

    • Dental Oasis / Dental Office
    • Dynamic Orthopedic Physical Therapy Wellness Clinic, LLC / Physician
    • Weapons At Hand MMA Academy / Gym & Fitness Center
    • Cynthia Malowitz, APRN, ANP-BC, FNP-C / Physician
    • Narvaez Brazilian Jiu Jitsu / Training Center / Sports School

    Property Details for 9929 Padre Is Dr

    Year built
    2007
    Lot size
    1.48 lot acres
    Property size
    18,380 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    2481-0004-0010
    APU
    248100040010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $1,155,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Corpus Christi
    County
    Nueces
    State
    Texas
    Longitude
    -97.2909
    Latitude
    27.6717
    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
    $47,508
    $193,932
    $2,229,361
    $2,423,293
    -
    $193,932
    $2,229,361
    $2,423,293

    Comparable in this City

    • Value Estimation
      $840,000
      17,355 SF

      14330 Padre Is Dr

      SHOPPING CENTER, STRIP CENTER • 17,355 SF
      14330 Padre Is Dr, Corpus Christi, TX 78418-6211
      View Details
    • Value Estimation by Request
      2,400 SF

      9901 Padre Is Dr

      SHOPPING CENTER, STRIP CENTER • 2,400 SF
      9901 Padre Is Dr, Corpus Christi, TX 78418-5133
      View Details
    • Value Estimation by Request
      2,223 SF

      14813 Padre Is Dr

      SHOPPING CENTER, STRIP CENTER • 2,223 SF
      14813 Padre Is Dr, Corpus Christi, TX 78418-6224
      View Details
    • Value Estimation by Request
      6,677 SF

      9841 Padre Is Dr

      SHOPPING CENTER, STRIP CENTER • 6,677 SF
      9841 Padre Is Dr, Corpus Christi, TX 78418-5165
      View Details
    • Value Estimation
      $1,650,000
      35,914 SF

      15401 Padre Is Dr

      SHOPPING CENTER, STRIP CENTER • 35,914 SF
      15401 Padre Is Dr, Corpus Christi, TX 78418-3907
      View Details
    • Value Estimation
      $1,150,000
      24,215 SF

      14254 Padre Is Dr

      SHOPPING CENTER, STRIP CENTER • 24,215 SF
      14254 Padre Is Dr, Corpus Christi, TX 78418-6277
      View Details

    Similar Nearby for Sale

    • $4,250,000
      12,097 SF

      North Padre Island Retail Center

      Established retail center serving the North Padre Island community.
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      View Details
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      Prime Commercial Land Opportunity

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      Versatile Industrial Property on NAS Drive

      Light industrial property with multiple buildings in prime location.
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      Coastal Commercial Land Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      2,591 SF

      Prime Corpus Christi QSR Pad Site

      High-traffic location, excellent visibility.
      10329 Padre Island Dr, Corpus Christi, TX 78418
      View Details
    • $3,600 /Mo
      4,500 SF

      North Flour Bluff Commercial Building

      4500+/- sqft building on corner lot, suitable for various uses.
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      View Details
    • $15 SF/Yr
      8,645 SF

      Gateway Shopping Center

      Retail properties & Spaces • 8,645 SF
      10338 Padre Island Dr, Corpus Christi, TX 78418
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    • $30 SF/Yr
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      Former Bar and Food Service

      Former bar and food service space available for lease.
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    • $20 SF/Yr
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      Corpus Christi retail center, multiple spaces available.
      1216 Waldron Rd, Corpus Christi, TX 78418
      View Details
    • $3,600 /Mo

      North Flour Bluff Commercial Building

      Single-story building in North Flour Bluff suitable for various commercial uses.
      510 Nas Dr, Corpus Christi, TX 78418
      View Details
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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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