This Retail Property is Off-Market.

7201 S. Padre Island Dr
Corpus Christi, TX 78412 ·

6,453 SF · Retail For Sale

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Goodyear - Corpus Christi, TX

Price N/A Cap Rate 7.50%
Building Size 6,453 SF Occupancy 100%
Property Type Retail No. Stories 1
Property Sub-type
Service/Gas Station
More...
  • Street Retail
  • Vehicle Related
  • Retail Pad
Tenancy Single
Property Use Type Net Lease Investment with 10+ years left on lease Year Built 2008
Listing ID: 16048046 Date Created: 01/07/2009 Last Updated: 02/17/2009

Description

This offering if for a 2008 constructed Goodyear corporately guaranteed single tenant building. The lease is a triple net with landlord responsible for roof and structure only. There is a one year workmanship warranty in place from the developer and a 20 year roof warrantee in place. The term is a 12 year lease with 6 (5 Year) options to extend with 5% increases at those options.

This offering is located in Corpus Christi, Texas which is 2 hours southeast of the San Antonio MSA and is primarily known as a port town. With over 295,000 square feet of dock space, the Port of Corpus Christi is a main artery of transportation for ships and the local demographics reflect that. The parcel is located at the signalized intersection of South Padre Island (Highway 358) that has traffic counts over 65,000 cars per day and Rodd Field Road which has traffic counts exceeding 25,000 cars per day. South Padre Island serves as the main Highway through this MSA and is scattered with national tenants as they take advantage of the freeway signage. Demographics are healthy with the 5 mile population over 150,000 and the average household income being above the national average at $52,000 per year.

Highlights

  • Goodyear S & P Credit B+
  • $19 Billion Net Sales 2007
  • Population of 150,000 in a 5 Mile Radius
  • Located Highway 358 (65,000 VPD) and Rodd Field Rd (25,000 VPD)
  • Port of Corpus Christi-Strong Employment Demographics

Research

7201 S. Padre Island Dr, Corpus Christi, TX 78412 (Nueces County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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