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4818 South Padre Island Drive

Mega Furniture Signs 52,677 Square Foot Retail Lease At 4818 South Padre Island Drive
LEASEDRetail

Mega Furniture Signs 52,677 Square Foot Retail Lease At 4818 South Padre Island Drive

4818 South Padre Island Drive

Building Size

52,677 SF

Asset Type

Retail

Closing

Jul 31, 2026

AI

The property involved in this transaction is a retail asset located at 4818 South Padre Island Drive, Corpus Christi, TX, with a total square footage of 52,677. The structure was built in 1973. This location has been leased to Mega Furniture, which is now occupying a space that was previously utilized by Conn’s HomePlus.

Summary of transaction details:

This lease signing reflects a strategic move by Mega Furniture to establish its presence in the Corpus Christi market, with Lynann Pinkham representing the landlord in this transaction, ensuring the property's needs were met. Asterra Properties acted as the tenant's representative, facilitating the lease agreement for Mega Furniture.

Players

Lynann Pinkham

Cravey Real Estate Services

Broker

6 deals

Broker
Asterra Properties
Asterra PropertiesBrokerage

Corpus Christi Retail Market Snapshot

Boundary boundary · Retail · Lease 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