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1434 South Port Avenue

Texas RioGrande Legal Aid, Inc. Acquires Plains Capital Bank Office Building In Corpus Christi
SOLDOffice

Texas RioGrande Legal Aid, Inc. Acquires Plains Capital Bank Office Building In Corpus Christi

1434 South Port Avenue

Building Size

9,500 SF

Asset Type

Office

Closing

Sep 27, 2023

AI

Cravey Real Estate Services recently facilitated the sale of a 9,500-square-foot office building located at 1434 South Port Avenue in Corpus Christi. The property, previously owned by Plains Capital Bank, was successfully sold to Texas RioGrande Legal Aid, Inc., a leading legal aid provider in Southwest Texas.

Summary of transation details

  • Property Type: Office
  • Transaction Amount: Not mentioned
  • Square Footage: 9,500
  • Address: 1434 South Port Avenue, Corpus Christi
  • Market: Corpus Christi

Texas RioGrande Legal Aid, Inc. emerged as the buyer in this transaction, securing a valuable asset in the form of an office space in Corpus Christi. Plains Capital Bank, represented by Alan White, acted as the seller in this deal. Jesus Barba Jr., a representative from Stream Realty Partners, served as the buyer's broker, while Lynann Pinkham from Cravey Real Estate Services represented the seller in this transaction.

The sale of this 9,500-square-foot office building at 1434 South Port Avenue marks a significant transaction that allows Texas RioGrande Legal Aid, Inc. to expand its presence and continue providing free civil legal services to the residents of Southwest Texas.

Players

Lynann Pinkham

Cravey Real Estate Services

Broker

5 deals

Broker

Corpus Christi Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93