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:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Address: 4818 South Padre Island Drive
- Market: Corpus Christi, TX
- Asset Size: 52,677 SF
- Tenant: Mega Furniture
- Landlord's Representative: Lynann Pinkham - Cravey Real Estate Services
- Tenant's Representative: Asterra Properties
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
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