9,044 Square Foot Multi-Family Space For Sale @ 4000 Padre Blvd

Property tours are available by appointment ONLY. Please contact Carmina Pena-Mojdehi to schedule at carminalandmark@gmail.com or 956-571-5275. Investment Highlights: Tremendous value add potential through lease up of ±3,927 SF mixed-use/retail space ±67% Apartment occupancy exclusive of first floor retail ±4 Million annual visitors to area making it 1 of Texas' top year round destinations Beachfront view property includes large lot and parking for a total lot size of ±19,845 SF Located on main north/south road with ±17,500 VPD and close proximity to restaurants, bars, shopping and the beach Close to tourist attractions like Schlitterbahn Park, water sports, entertainment and future home of Space-X Investment Overview: South Padre Apartments (the “Property”) is a ±9,044 SF mixed use multi-family over retail located at 4000 Padre Boulevard in South Padre Island, TX. Built in 2000, the Property has incredible value-add potential through lease up of the vacant first floor retail. The two-story commercial building is comprised of 6 apartment units to be delivered occupied at 66.7% and ±3,927 SF of vacant retail mixed-use spaces. Previously, one of the retail spaces ±1,427 SF had been used as a storage garage and the other ±2,500 SF suite was leased as a retail store for eleven years to the same business. An apartment and ground level retail/office space are currently owner occupied but will be delivered vacant. The unit mix consist of two 1/1 and four 2/2 and each unit is individually metered for utilities and equipped with a refrigerator and stove. The Property is fronting Padre Boulevard which is the main north/south thoroughfare in the area. South Padre Island is a top gulf coast beach destination with ±4 million annual visitors that offers a wide variety of year round activities for tourists as well as the year round resident population. South Padre encompasses diverse residents, flourishing businesses and a safe community, popular with vacationing tourists. The Island delivers wide sandy beaches, sparkling blue water and a mixture of great restaurants, hotels and entertainment that emphasize character. Kite boarding, windsurfing and several sports outfitters offer deep-sea fishing trips and dolphin watching excursions. The year-round warm weather allows you to enjoy Schlitterbahn Beach Waterpark, horseback riding and other forms of entertainment located ±3 miles from the Property. This site is in an excellent location, in a high traffic commercial area in close proximity to shopping, restaurants, entertainment, and the future site of Space-X. South Padre Apartments is an attractive mixed-use commercial building in the ultimate beach resort location with value add opportunity through lease up of the soon to be vacant owner user apartment and retail space at market rate.