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Family Dollar * REDUCED* 1519 S Port Ave 7,816 SF Retail Building Corpus Christi, TX 78405 $750,000 ($95.96/SF) 8.87% Cap Rate
INVESTMENT HIGHLIGHTS
- 8.9% Cap Rate
- Tenant exercised renewal early and renovated interior, showing strong commitment to location
- Below Replacement Value ($96/sf)
- Recent improvements made to the property
EXECUTIVE SUMMARY
Family Dollar location that was a build to suit in 2004. Tenant exercised an early 3 year extension in 2021, with the current term now expiring in December 2026. The Tenant also renovated the interior of the property in 2021, further showing strong commitment to the location. SPF roof coated in 2021 with a 15-year warranty. Two 5-year extension options remain, with 10% increases at the beginning of each renewal.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
7,816 SF
Building Class
B
Year Built/Renovated
2003/2021
Price
$750,000
Price Per SF
$95.96
Cap Rate
8.87%
NOI
$66,525
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.72 AC
Zoning
I2
Frontage
73’ on PORT AVE
Walk Score®
Very Walkable (81)
PROPERTY TAXES
| Parcel Number | 217734 | Improvements Assessment | $843,770 |
| Land Assessment | $133,263 | Total Assessment | $977,033 |
PROPERTY TAXES
Parcel Number
217734
Land Assessment
$133,263
Improvements Assessment
$843,770
Total Assessment
$977,033
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Family Dollar * REDUCED* | 1519 S Port Ave
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