3014 S Port Ave - Restaurant FOR SALE


Corpus Christi, TX 78405- Downtown Corpus Christi
$2,133,000 USD
713-459-1333
3014 S Port Ave, Corpus Christi, TX for Sale
$2,133,000 USD
Restaurant - FOR SALE
1/5
null | Request Cap Rate

3014 S Port Ave
Corpus Christi, TX 78405
Downtown Corpus Christi


HIGHLIGHTS

  • Attractive 7.95 Percent Cap Rate with Future Rent Increases
  • Ability to Market Space for Lease While Benefiting from Cash Flow Generated from Dark Tenant
  • Across the Street from H-E-B: Per Placer.AI, this location sees approximately 2.5 million visits per year
  • Located Within One of Corpus Christi’s Established Commercial Corridors

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,133,000 USD

PRICE/SF

$533 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

South Port Retail Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

CG-2

APN/PARCEL ID

379356

ASK ABOUT THIS PROPERTY

Gus LagosMarcus & MillichapMore Info
713-459-1333

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Gus LagosMarcus & MillichapMore Info
713-459-1333

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.