3420 Padre Island DrCorpus Christi, TX 78415

Property Details for 3420 Padre Island Dr

Year built

2003

Lot size

0.37 AC

Property size (Sq ft)

2,028 SF

Zone code

B-4

Property type

Office buildings

APN

4403-0005-0240

APU

440300050240

Description

This exceptional 2,028 square foot retail space, situated on a prominent corner lot in Corpus Christi, Texas, presents a unique leasing opportunity. Formerly a car dealership, the property boasts a prime location on a major thoroughfare with an impressive average annual daily traffic count of 115,000 vehicles. The main building, totaling 1,700 square feet, is in excellent condition and features three executive offices, several smaller agent rooms, a break room, a storage room, and two restrooms. A convenient 300 square foot garage with an overhead door and a wash bay is also included. The property sits on a substantial 31,000 square foot lot and is zoned for commercial use within Nueces County. Built in 2003, the property consists of two single-story buildings. This location offers unparalleled visibility and accessibility, with close proximity to residential subdivisions and multifamily housing, ensuring a steady stream of potential customers. The lease terms include base rent plus net-net (NN) expenses for property taxes and owner's insurance. This is an ideal location for a variety of automotive-related businesses or other retail ventures seeking high visibility and a strong customer base. The property's size and amenities make it a versatile space ready for immediate occupancy.

• CAP approach

  CAP return

  Valuation

  6%

  $315,847

  6.5%

  $291,551

  7%

  $270,726

• Comparable approach

  Method

  Valuation

  Relative Method

  $174,877

  Geo Method

  $460,904

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $564,325

  Retail / Commercial

  $291,276

  Mixed-Use / Specialty

  $291,730

  Hospitality / Lodging

  $215,976

  Institutional / Educational

  $303,815

  Residential Income

  $355,464

  Multifamily

  $418,052

  Automotive / Energy

  $260,413

  Parking / Income-Based Land

  $88,391.20

  Restaurant / Food Service

  $154,915

  Healthcare / Senior Housing

  $297,634

Location Insight

City

Corpus Christi

County

Nueces

State

Texas

Latitude

27.7271

Longitude

-97.4087

CBSA code

18580

CBSA name

CORPUS CHRISTI, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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