South Texas Vocational Technical Institute - Corpus Christi, TX
2000 S Padre Island Dr Corpus Christi , TX 78416

South Texas Vocational Technical Institute - Corpus Christi, TX - office for sale

Download offering memorandum:

Overview



JLL is pleased to offer for sale the fee-simple interest in a single-tenant academic facility (the “Property”) located in Corpus Christi, Texas. South Texas Vocational Technical Institute (“STVT” or the “Tenant”) is a long-standing Corpus Christi trade school within a market featuring exceptional demand for specialized labor. The Property possesses outstanding accessibility for those in Corpus Christi seeking trade-focused education, located at the intersection of two prominent Texas state highways and thus creating a regional draw. Further, STVT is heavily entrenched into Corpus Christi’s medical and industrial markets, ensuring long-term tenancy and stability within an investment. With 10 years remaining on a triple-net (“NNN”) lease (at close of escrow), annual increases, and over 40 years of operating history, investors will secure appreciating, long-term cash flows from an established Tenant.

Investment highlights


  • Long-term NNN lease with highly desirable fundamentals
  • Mission-critical facility
  • Prime market for trade-oriented education
  • Strong corporate tenant
  • Visible & accessible location
  • Extensive tenant investments
  • Large parcel with flexible zoning requirements
General
Property type Office
Tenure type Sale/Purchase
Property address 2000 S Padre Island Dr, Corpus Christi, TX 78416-1141
Land in acres 5.19
Building size 29,186  ft2
Year built 1978
Financial
Price $6,328,475
Cap rate 8.00%
Current NOI $506,278.00
Lease
Tenant's name South Texas Vocational Technical Institute
Annual rent $506,278.00

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