Island Market | 5312 Padre Blvd
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Island Market 5312 Padre Blvd
5,230 SF 100% Leased Retail Building South Padre Island, TX 78597 $3,000,000 ($574/SF)
Investment Highlights
- 100% occupancy--Busy corner retail center with 2 accesses--off Padre Blvd and E Carolyn
Executive Summary
Great location with 4 retail spaces at 100% occupancy... a convenience store with gas pumps, liquor store, property management company, and small restaurant. High-traffic corner on the corner of East Carolyn and Padre Blvd. Large parking lot with room for a couple of food trucks. Easy access in & out with 2 curb cutouts.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$192,000
|
$36.71
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$192,000
|
$36.71
|
| Taxes |
$13,780
|
$2.63
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$13,780
|
$2.63
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $192,000 |
| Annual Per SF | $36.71 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $192,000 |
| Annual Per SF | $36.71 |
| Taxes | |
|---|---|
| Annual | $13,780 |
| Annual Per SF | $2.63 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $13,780 |
| Annual Per SF | $2.63 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,230 SF
Year Built
1971
Price
$3,000,000
Price Per SF
$574
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
0.44 AC
Opportunity Zone
Yes
Zoning
COMMERCIAL - Commercial, convenience store, retail center
Parking
10 Spaces (1.91 Spaces per 1,000 SF Leased)
Frontage
125 FT on PADRE BLVD.
Amenities
- Bus Line
- Corner Lot
- Pylon Sign
- Security System
- Storage Space
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Coastal Lifestyles
- Real Estate
- -
- -
- -
- -
- SPI Liquor
- Retailer
- -
- -
- -
- -
- Starnie's Hot Dogs
- Accommodation and Food Services
- -
- -
- Plus All Utilities
- -
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Coastal Lifestyles | Real Estate | - | - | - | - | |
| SPI Liquor | Retailer | - | - | - | - | |
| Starnie's Hot Dogs | Accommodation and Food Services | - | - | Plus All Utilities | - |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 676400-1690-001000 | Total Assessment | $805,307 (2024) |
| Land Assessment | $539,263 (2024) | Annual Taxes | $13,780 ($2.63/SF) |
| Improvements Assessment | $266,044 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
676400-1690-001000
Land Assessment
$539,263 (2024)
Improvements Assessment
$266,044 (2024)
Total Assessment
$805,307 (2024)
Annual Taxes
$13,780 ($2.63/SF)
Tax Year
2023
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Island Market | 5312 Padre Blvd
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