5114 Carroll LnCorpus Christi, TX 78415

Property Details for 5114 Carroll Ln

Year built

1976

Lot size

0.48 AC

Property size (Sq ft)

3,316 SF

Zone code

B-4

Property type

Bars

Property subtype

Pubs

APN

4430-0004-0360

APU

443000040360

Description

This exceptional 2,940 sq ft commercial property, located at 5114 Carroll Ln, Corpus Christi, TX 78415, presents a unique investment opportunity. Situated on a 31,500 sq ft lot (including 10,500 sq ft of additional land for expansion), this single-story building boasts a prime location approximately 200 feet from the intersection of Carroll Lane and the SPID access road, offering easy access to Hwy 358. Previously operating as a bar for over two decades, the property is currently vacant and ready for immediate redevelopment. The CG-2 zoning permits a wide range of commercial uses, making it ideal for various businesses, including hospitality, medical offices, or retail establishments. The asking price is $580,000, and the property is available for occupancy on November 7, 2024. Its location in a high-traffic business district along Hwy 358, combined with its flexible zoning and ample land, makes this a compelling investment for owner-users seeking a property with significant potential. The existing building provides a solid foundation for a quick turnaround, allowing for customization to suit specific business needs. With a relatively low down payment, an investor could own this property and complete renovations within six months. This property offers a blend of convenience, flexibility, and high visibility, making it a strong contender in the competitive Corpus Christi commercial market. The Nueces County APN is 4430-0004-0360.

• CAP approach

  CAP return

  Valuation

  6%

  $669,858

  6.5%

  $618,331

  7%

  $574,164

• Comparable approach

  Method

  Valuation

  Relative Method

  $720,576

  Geo Method

  $1,899,141

• Alternative Use

  Use

  Valuation

  Residential

  $521,585

  Hospitality

  $477,769

  Educational

  $397,498

  Medical

  $411,169

  Retail

  $618,331

Location Insight

City

Corpus Christi

County

Nueces

State

Texas

Latitude

27.724

Longitude

-97.406

CBSA code

18580

CBSA name

CORPUS CHRISTI, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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