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The 600 Building 600 Leopard St 131 Unit Apartment Building $4,500,000 ($34,351/Unit) Corpus Christi, TX 78401
Investment Highlights
- Irreplaceable Heart of Downtown Corpus Christi Location - 131 units
- Credits, Loans, Approvals, and Architectural Designs Already in Place
- Office to Apartment Conversion either by Historic Tax Credits or Market
Executive Summary
The 600 Building development opportunity involves the rehabilitation and conversion of the existing office tower into a market rate multifamily mixed-use development via historic tax credit syndication. This proposed 131-unit development located in downtown Corpus Christi will include residential apartments, structured parking, a multitude of high-end amenities, and ground floor retail space available for lease. The building will maintain its historic and unique windows and exterior walls, but will receive a full interior renovation with brand-new layouts, fixtures and finishes. Dynamic views of the Corpus Christi Bay and downtown cityscapes, integrated secured parking and a wide range of amenities will draw future residents to The 600 Building. The ground floor will include approximately 2,700 square feet of leasable commercial restaurant space, including a covered outdoor patio, allowing the public to engage with the building while encouraging increased pedestrian traffic and street life. The building will also offer limited leasing for communication antennas on the roof
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$3,088,001
|
$12.85
|
| Other Income |
$227,416
|
$0.95
|
| Vacancy Loss |
$1,280,797
|
$5.33
|
| Effective Gross Income |
$2,034,620
|
$8.47
|
| Taxes |
$70,907
|
$0.30
|
| Operating Expenses |
$953,605
|
$3.97
|
| Total Expenses |
$1,024,512
|
$4.26
|
| Net Operating Income |
$1,010,108
|
$4.20
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $3,088,001 |
| Annual Per SF | $12.85 |
| Other Income | |
|---|---|
| Annual | $227,416 |
| Annual Per SF | $0.95 |
| Vacancy Loss | |
|---|---|
| Annual | $1,280,797 |
| Annual Per SF | $5.33 |
| Effective Gross Income | |
|---|---|
| Annual | $2,034,620 |
| Annual Per SF | $8.47 |
| Taxes | |
|---|---|
| Annual | $70,907 |
| Annual Per SF | $0.30 |
| Operating Expenses | |
|---|---|
| Annual | $953,605 |
| Annual Per SF | $3.97 |
| Total Expenses | |
|---|---|
| Annual | $1,024,512 |
| Annual Per SF | $4.26 |
| Net Operating Income | |
|---|---|
| Annual | $1,010,108 |
| Annual Per SF | $4.20 |
Property Facts
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Elevator
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 46 | - | - |
| 2+2 | 80 | - | - |
| 3+2 | 5 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 196776 | Total Assessment | $2,000,000 (2025) |
| Land Assessment | $217,904 (2025) | Annual Taxes | $70,907 ($0.30/SF) |
| Improvements Assessment | $1,782,096 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
196776
Land Assessment
$217,904 (2025)
Improvements Assessment
$1,782,096 (2025)
Total Assessment
$2,000,000 (2025)
Annual Taxes
$70,907 ($0.30/SF)
Tax Year
2026
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Photos
Street View
Street
Map
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The 600 Building | 600 Leopard St
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