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3014 S Port Ave
Corpus Christi, TX 78405
South Port Retail Building · Retail Property For Sale
Investment Highlights
- Attractive 7.95 Percent Cap Rate with Future Rent Increases
- Across the Street from H-E-B: Per Placer.AI, this location sees approximately 2.5 million visits per year
- Ability to Market Space for Lease While Benefiting from Cash Flow Generated from Dark Tenant
- Located Within One of Corpus Christi’s Established Commercial Corridors
Executive Summary
Marcus & Millichap is pleased to offer for sale South Port Retail Building, a freestanding 4,000-square-foot building situated on 0.49
acres located across the street from H-E-B at 3014 S Port Avenue in Corpus Christi.
The property is occupied by Family DSO, LLC, a triple-net tenant (dark), currently paying annual base rent of $40 per square foot plus triple-nets. There are two, ten percent base rent increases that will come
into effect prior to the primary lease term expiring on 6/30/2038.
South Port Retail Building is available for purchase at a price of $2,133,000,which represents a day one cap rate of 7.95 percent. An investor could immediately earn an attractive cap rate while being able to market the building for lease. An owner-user could modify the building as necessary and retain or build equity in the property during the duration of their use.
The existing building configuration and commercial zoning create flexibility for a variety of future uses, including industrial service, automotive, retail, distribution, or owner-user occupancy. With limited supply of functional commercial space in established infill locations, the property is positioned to benefit from continued economic activity tied to the Port of Corpus Christi and the region’s industrial growth drivers.
acres located across the street from H-E-B at 3014 S Port Avenue in Corpus Christi.
The property is occupied by Family DSO, LLC, a triple-net tenant (dark), currently paying annual base rent of $40 per square foot plus triple-nets. There are two, ten percent base rent increases that will come
into effect prior to the primary lease term expiring on 6/30/2038.
South Port Retail Building is available for purchase at a price of $2,133,000,which represents a day one cap rate of 7.95 percent. An investor could immediately earn an attractive cap rate while being able to market the building for lease. An owner-user could modify the building as necessary and retain or build equity in the property during the duration of their use.
The existing building configuration and commercial zoning create flexibility for a variety of future uses, including industrial service, automotive, retail, distribution, or owner-user occupancy. With limited supply of functional commercial space in established infill locations, the property is positioned to benefit from continued economic activity tied to the Port of Corpus Christi and the region’s industrial growth drivers.
Property Facts
Sale Type
Owner User
Property Type
Retail
Property Subtype
Building Size
4,000 SF
Building Class
C
Year Built
2022
Price
$2,133,000
Price Per SF
$533.25
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.49 AC
Zoning
CG-2 - Commercial
Parking
12 Spaces (3 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Corner Lot
- Signage
Property Taxes
| Parcel Number | 379356 | Improvements Assessment | $615,030 |
| Land Assessment | $112,523 | Total Assessment | $727,553 |
Property Taxes
Parcel Number
379356
Land Assessment
$112,523
Improvements Assessment
$615,030
Total Assessment
$727,553
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