South Port Retail Building — Sale in Corpus Christi, TX

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Corpus Christi, TX 78405
  • Year built: 2022

Photos

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Investment Figures

Cap rate
7.95%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to offer for sale South Port Retail Building, a freestanding 4,000-square-foot building situated on 0.49 acres located across the street from H-E-B at 3014 S Port Avenue in Corpus Christi. The property is occupied by Family DSO, LLC, a triple-net tenant (dark), currently paying annual base rent of $40 per square foot plus triple-nets. There are two, ten percent base rent increases that will come into effect prior to the primary lease term expiring on 6/30/2038. South Port Retail Building is available for purchase at a price of $2,133,000,which represents a day one cap rate of 7.95 percent. An investor could immediately earn an attractive cap rate while being able to market the building for lease. An owner-user could modify the building as necessary and retain or build equity in the property during the duration of their use. The existing building configuration and commercial zoning create flexibility for a variety of future uses, including industrial service, automotive, retail, distribution, or owner-user occupancy. With limited supply of functional commercial space in established infill locations, the property is positioned to benefit from continued economic activity tied to the Port of Corpus Christi and the region’s industrial growth drivers. Investment Highlights: • Attractive 7.95 Percent Cap Rate with Future Rent Increases • Ability to Market Space for Lease While Benefiting from Cash Flow Generated from Dark Tenant • Across the Street from H-E-B: Per Placer.AI, this location sees approximately 2.5 million visits per year and is in the top 35 percent for foot traffic nationwide. • Located Within One of Corpus Christi's Established Commercial Corridors

Market Context

This retail in Corpus Christi, TX is listed for sale. It is offered at an approximate 8.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2022. Compare it against other retail listings for sale in Corpus Christi, TX — view the full market.

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