3329 Leopard StCorpus Christi, TX 78408

Property Details for 3329 Leopard St

Year built

1944

Lot size

0.63 AC

Property size (Sq ft)

2,255 SF

Zone code

B-5

Property type

Turn key restaurants

APN

0455-0012-0010

APU

45500120010

Description

This exceptional investment opportunity presents a fee-simple ownership of a Starbucks located at 3329 Leopard St, Corpus Christi, TX 78408. The 2,230 square foot building, constructed in 2024, sits on a 0.62-acre lot and boasts a prime location across from an H-E-B grocery store. The property benefits from a strong 100% occupancy rate with a corporate guarantee from Starbucks, the world's largest coffeehouse chain. The current lease, a Net Lease (NN) agreement, commenced March 16, 2024, and extends for a total of 10 years, with a remaining term of approximately 9.4 years. The lease includes four 5-year renewal options, each with an 8% rent increase. This translates to a substantial 6.00% cap rate and a Net Operating Income (NOI) of $118,500. The asking price is $1,975,000, resulting in a price per square foot of $885.65. The property's strategic location near the intersection of Nueces Bay Blvd and Leopard St, with easy access to Interstate-37 (46,000+ vehicles per day), and its proximity to Corpus Christi International Airport (5 miles) and a high-density residential area (almost 100,000 residents within 5 miles), ensures strong tenant performance and long-term value. The property's robust demographics, combined with the built-in rent escalations, make this a compelling investment opportunity with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $455,528

  6.5%

  $420,487

  7%

  $390,453

• Comparable approach

  Method

  Valuation

  Relative Method

  $490,018

  Geo Method

  $1,291,484

• Alternative Use

  Use

  Valuation

  Residential

  $354,697

  Hospitality

  $324,900

  Educational

  $270,313

  Medical

  $279,610

  Retail

  $420,487

Location Insight

City

Corpus Christi

County

Nueces

State

Texas

Latitude

27.7964

Longitude

-97.4276

CBSA code

18580

CBSA name

CORPUS CHRISTI, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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