7514 Padre Island DrCorpus Christi, TX 78412

Property Details for 7514 Padre Island Dr

Year built

2020

Lot size

1.54 AC

Property size (Sq ft)

7,952 SF

Property type

Retail properties

Property subtype

Strip malls

APN

3831-0002-0040

APU

383100020040

Description

Ocean Bay Shops offers exceptional retail opportunities in Corpus Christi, Texas. This modern, multi-tenant property boasts 12,200 square feet of total building space, with available units ranging from 887 to 2,400 contiguous square feet. The minimum divisible space is 1,825 square feet. Located at 7514 S Padre Island Dr, 78412, in Nueces County, this property benefits from a highly desirable location. It's situated less than two miles from Texas A&M University's Island Campus and less than half a mile from their new Momentum Campus, providing excellent access to a large student population. The area also features over 2,400 existing and planned apartment units, plus new single-family subdivisions, ensuring a robust customer base. Furthermore, the property is within half a mile of the proposed Barisi Village multi-planned unit development, promising continued growth. The spaces are offered as cold grey shells, allowing for tenant-financed build-outs to suit individual needs. Pylon signage on S Padre Island Dr is available for a one-time fee. Estimated NNN expenses are $9.50 per square foot annually. This presents a unique chance to establish a thriving business in a rapidly developing area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,507,156

  6.5%

  $2,314,298

  7%

  $2,148,991

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,576,481

  Geo Method

  $4,554,272

• Alternative Use

  Use

  Valuation

  Residential

  $1,952,197

  Hospitality

  $1,788,202

  Educational

  $1,487,763

  Medical

  $1,538,930

  Retail

  $2,314,298

Location Insight

City

Corpus Christi

County

Nueces

State

Texas

Latitude

27.6913

Longitude

-97.3345

CBSA code

18580

CBSA name

CORPUS CHRISTI, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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