Downtown Office | 518 Peoples St
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Downtown Office 518 Peoples St
10,676 SF 100% Leased Office Building Corpus Christi, TX 78401 $850,000 ($80/SF)
Executive Summary
24 office property with 2 quality tenants in downtown Corpus Christi. Tenants occupy 2774SF over 2 separate units, each with dedicated exterior access. The remaining square footage is occupied by the seller who will consider a lease back at fair market rate plus NNN or vacate should a buyer prefer.
The building features 7 bathrooms (one with shower), break rooms, kitchen, lobby, and an 8 car, internal garage, with overhead door access.
The building features 7 bathrooms (one with shower), break rooms, kitchen, lobby, and an 8 car, internal garage, with overhead door access.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$41,804
|
$3.92
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$41,804
|
$3.92
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $41,804 |
| Annual Per SF | $3.92 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $41,804 |
| Annual Per SF | $3.92 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Building Size
10,676 SF
Building Class
B
Year Built/Renovated
1932/2004
Price
$850,000
Price Per SF
$80
Percent Leased
100%
Building Height
2 Stories
Typical Floor Size
5,061 SF
Building FAR
1.17
Lot Size
0.21 AC
Opportunity Zone
Yes
Zoning
CBD-Downtown Commercial
Parking
8 Spaces (0.79 Spaces per 1,000 SF Leased)
1 of 1
Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 191764 | Improvements Assessment | $297,757 (2024) |
| Land Assessment | $103,692 (2024) | Total Assessment | $401,449 (2024) |
PROPERTY TAXES
Parcel Number
191764
Land Assessment
$103,692 (2024)
Improvements Assessment
$297,757 (2024)
Total Assessment
$401,449 (2024)
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Downtown Office | 518 Peoples St
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