5301 Everhart RdCorpus Christi, TX 78411

Sun Plaza, a 38,544 square foot retail center in Corpus Christi, Texas, presents a compelling investment opportunity. Located at the high-traffic intersection of Everhart and Corona Roads, boasting over 25,000 cars daily (ESRI 2024 data), this multi-tenant property currently has 65% occupancy. Seven tenants occupy the space, with a mix of lease terms. Key tenants, including Sherwin Williams (since 1976), Koi, and State Farm, are secured on longer-term leases, providing stable income. Several month-to-month tenants offer a significant value-add opportunity to increase rental income by re-leasing at market rates. The property sits on a 2.433-acre lot, encompassing a 0.53-acre fee simple parcel (Levek Tract Lot 26, Block D) and a ground lease (Levek Tract Lot 27, Block D) expiring February 22, 2032, with a renewable 20-year term and two 5-year options. Current NNN expenses are $6.62 per square foot annually, and the ground lease rent of $36,802.00 is included in the tenants' CAM breakdown. The ground lease is adjusted every five years at fair market value. Detailed ground lease documentation is available upon request. This property offers a blend of stable income and significant upside potential for a savvy investor. The address is 5301 Everhart Rd, Corpus Christi, TX 78411.