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Alexander Business Center 5110 Wilkinson

8,000 SF 100% Leased Office Building Corpus Christi, TX 78415 £919,379 (£115/SF) 5.11% Net Initial Yield

Investment Highlights

  • Easy access to SPID
  • Large parking lot
  • Fully Occupied
  • Central business area
  • Recently Remodeled Roof!
  • 3 Maintained HVAC and 1 Newly Installed System in 2023

Executive Summary

Alexander Business Center is a rare flexible office opportunity in the thriving office market of central Corpus Christi, the masonry-
constructed building, which was built in 1983, and totals 8,000 square feet of space. Fully renovated in 2008 and most recently with a new HVAC system installed in 2023. Building has been maintained vigorously for the past 16 years by current owner. The property has ample parking available for tenant use. Which is ideal to accommodate visiting clients as well as employees at the location. All in all, there are 40 parking spots available. The building is currently 100% occupied by diverse professional groups of approximately seven tenants, including insurance agent, engineers, doctor, and law groups, etc. This offers a new investor the rare ability to continue working with well-established tenants with operational cash flow. This well maintained building offers amazing potential for even an investor occupancy.
Alexander Business Center offers prominent positioning surrounded by national retailers, hotels, eateries, interstate connection, and a robust demographic breakdown that helps support a unique office environment. The building is directly behind a highly trafficked area that draws a steady stream of clients to the area. This portion of Corpus Christi is directly off a confluence point of SPID, offering a streamlined commuting route farther into Central Corpus Christi. The location has a dense hotel concentration in the area, with over ten different accommodations varying quality and size, all within a mile of Alexander Business Center which will attract business travelers and visitors. The surrounding 5-mile demographics assist in creating an idealist office environment.

Property Facts

Sale Type
Investment
Sale Condition
Sale & Leaseback
Property Type
Office
Property Subtype
Loft/Creative Space
Building Size
8,000 SF
Building Class
C
Year Built/Renovated
1983/2023
Price
£919,379
Price Per SF
£115
Net Initial Yield
5.11%
NOI
£46,947
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
7,980 SF
Building FAR
0.22
Land Acres
0.82 AC
Zoning
COMMERCIAL - COMMERCIAL
Parking
40 Spaces (5.78 Spaces per 1,000 SF Leased)

Amenities

  • Bus Route
  • Controlled Access
  • Conferencing Facility
  • Fenced Lot
  • Restaurant
  • Security System
  • Wheelchair Accessible
  • Accent Lighting
  • Reception
  • Central Heating
  • Air Conditioning
  • Fiber Optic Internet
  • Smoke Detector

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
259406
Land Assessment
£257,751
Improvements Assessment
£179,214
Total Assessment
£436,965
  • Listing ID: 31268738

  • Date on Market: 19/03/2024

  • Last Updated:

  • Address: 5110 Wilkinson, Corpus Christi, TX 78415

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