5488 S Padre Island Dr, Corpus Christi, TX 78411 – Regional Shopping Mall

RetailYear Built 1972Total Assessed Value $98,995,145County Nueces

Property Details

The Retail property 5488 S Padre Island Dr, Corpus Christi, TX 78411 is located in Nueces County. The specific property type is Regional Shopping Mall. The total assessed value of this property is $98,995,145.

The gross building area is 747,956 square feet and the land area is 1,727,861 square feet for this Regional Shopping Mall built in 1972.

Legal description: La Palmera Mall 39.666 Acs Out Lt 1 Blk 1

$98,995,145

Market Value

8.50%

Cap Rate

N/A

NOI

N/A

Occupancy

Avg Rent

Property Image of 5488 S Padre Island Dr, Corpus Christi, TX 78411, Retail

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Property Information

Property TypeRetail

Sub Property TypeRegional Shopping Mall

Building Area747,956

Land Size1,727,861

Land Value$9,503,236

Improved Value$89,491,909

Total Assessed Value$98,995,145

Year Built1972

County NameNueces

Account Number380532

Cap Rate8.50%

Very Walkable

Good Transit

Bikeable

Amenities

HeatingNone

Roof CoverRoll composition

Type ConstructionOther

Elevator

Sales History

7/11/2008

Arms-lengthNot Disclosed

Buyer

Corpus Christi Retail Venture Lp

Seller

Ps Mall Lp

Book Number

2008031430

Recording Date

7/11/2008

Transaction Details

Corpus Christi Retail Venture Lp acquired the property from Ps Mall Lp through a Arms-length transaction on 7/11/2008 for .

Property constructed in 1972

YSale Price (USD) byXSales Year

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Mortgage History

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Assessment History

Assessment Year ↓	Assessed Land Value ↕	Assessed Improved Value ↕	Assessed Total Value ↕	Market Value ↕	Owner Name ↕	Owner Address ↕	Legal Description ↕	Neighborhood Code ↕	Sub Division ↕	Land Size (SF) ↕	GBA (SF) ↕
2026	$9,503,236	$89,491,909	$98,995,145	$98,995,145	Corpus Christi Retai...	5488 S Padre Island ...	La Palmera Mall 39.6...	COMM	S4061	1,727,861	747,956
2025	$9,503,236	$89,491,909	$98,995,145	$98,995,145	Corpus Christi Retai...	La Palmera Mgmt Offi...	La Palmera Mall 39.6...	S4061	S4061	1,727,861	747,956
2024	$9,503,236	$89,491,909	$98,995,145	$98,995,145	Corpus Christi Retai...	5488 S Padre Island ...	La Palmera Mall 39.6...	S4061	S4061	1,727,860	743,192
2023	$9,503,236	$89,491,909	$98,995,145	$98,995,145	Corpus Christi Retai...	La Palmera Mgmt Offi...	La Palmera Mall 39.6...	S4061	S4061	1,727,861	743,192
2022	$9,503,236	$82,496,764	$92,000,000	$92,000,000	Corpus Christi Retai...	La Palmera Mgmt Offi...	La Palmera Mall 39.6...	S4061	S4061	1,727,860	734,648
2021	$9,503,236	$82,496,764	$92,000,000	$92,000,000	Corpus Christi Retai...	5488 S Padre Island ...	La Palmera Mall 39.6...	S4061	S4061	1,727,860	728,860
2020	$9,503,236	$87,233,035	$96,736,271	$96,736,271	Corpus Christi Retai...	La Palmera Mgmt Offi...	La Palmera Mall 39.6...	S4061	S4061	1,727,860	728,860
2019	$9,503,236	$87,233,035	$96,736,271	$96,736,271	Corpus Christi Retai...	La Palmera Mgmt Offi...	La Palmera Mall 39.6...	S4061	S4061	1,727,860	728,860
2018	$9,503,236	$87,233,035	$96,736,271	$96,736,271	Corpus Christi Retai...	La Palmera Mgmt Offi...	LA PALMERA MALL 39.6...	S4061	S4061	1,727,860	728,860
2017	$9,503,236	$85,073,136	$94,576,372	$94,576,372	Corpus Christi Retai...	La Palmera Mgmt Offi...	LA PALMERA MALL 39.6...	S4061	S4061	1,727,860	728,860

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Rent & Occupancy

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Comparables

Address ↕	Assessors Parcel Number ↕	Property Type ↕	Property Sub Type ↕	Owner Name ↕	County ↕	Miles ↕	Sale Price ↕	Sale Date ↕	Price / SF ↕	Year Built ↕	GBA ↕	Units ↕
5488 S Padre Island Dr, Corpus Christi, TX 78411	380532	Retail	Regional Shopping Mall	Corpus Christi Retail Venture Lp, La Palmera Mgmt Office	Nueces	-	-	-	-	1972	747,956	-
3662 W Camp Wisdom Rd, Dallas, TX 75237	00693100A10010000	Retail	Regional Shopping Mall	3662 W Camp Wisdom Llc	Dallas	345.2	$ 16,827,825	2024-11-15	$ 53.26	1975	315,940	-
6200 Grandview Pkwy, Davenport, FL 33837	272607701260000040	Retail	Regional Shopping Mall	Prep Posner Real Estate Llc	Polk	965.5	$ 57,150,000	2025-05-29	$ 225.13	2008	253,855	8
2401 S Stemmons Fwy, Lewisville, TX 75067	175967	Retail	Regional Shopping Mall	1000 South Vermont Llc & 1054 Vermont Llc & 1035 Menlo Llc	Denton	368.5	$ 40,000,000	2022-08-26	$ 55.30	1988	723,379	-
3111 Midwestern Pkwy, Wichita Falls, TX 76308	123567	Retail	Regional Shopping Mall	Sikes Senter Mall Realty Holding Llc	Wichita	433.5	$ 23,940,000	2025-10-15	$ 30.53	1973	784,240	-
1700 Norman Dr, Valdosta, GA 31601	0082C-074	Retail	Regional Shopping Mall	-	Lowndes	878.5	$ 39,585,000	2025-03-31	$ 86.10	1982	459,770	-
3100 Sw College Rd, Ocala, FL 34474	23735-001-00	Retail	Regional Shopping Mall	-	Marion	933.7	$ 54,900,000	2025-07-29	$ 130.62	1980	420,292	-
7958 Via Dellagio Way, Orlando, FL 32819	27-23-28-3128-01-000	Retail	Regional Shopping Mall	Charal Dellagio Center Llc	Orange	974.3	$ 37,500,000	2025-03-11	$ 112.54	2009	333,213	-
200 Towne Center Cir, Sanford, FL 32771	29-19-30-5LW-0100-0000	Retail	Regional Shopping Mall	Seminole Mall Realty Holding L	Seminole	983.7	$ 17,390,000	2025-03-14	$ 34.81	1995	499,596	-

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Lender Name ↕	Property Address ↕	Loan Date ↕	Mortgage Amount ↕	Land Size (SF) ↕	Year Built ↕	GBA (SF) ↕	Total Assessed Value ↕	Land Assessed Value ↕	Borrower ↕
—	5488 S Padre Island Dr, Corpus Christi, TX 78411	—	-	1,727,861	1972	747,956	$ 98,995,145	$ 9,503,236	-
Hancock Whitney Bank	9350 Highway 49, Gulfport, MS 39503	09/12/2025	$ 3,175,000	113,256	1995	27,895	$ 430,946	-	-
Old Plank Trail Cmty Bank Na	10031 Fm 1960 Bypass Rd W Ste F2 SteF2, Humble, TX 77338	09/11/2025	$ 250,000	61,202	2007	9,252	$ 2,744,887	$ 1,530,050	Humble Th Llc
Cadence Bank Na	15718 S Highway 288, Pearland, TX 77581	08/08/2025	$ 3,100,000	101,752	2014	16,694	$ 4,518,000	$ 1,984,160	4gf Group Llc
American National Bank & Trust	5617 Kemp Blvd, Wichita Falls, TX 76308	04/11/2025	$ 75,000	12,197	1985	3,784	$ 66,977	$ 29,272
Jet Lending Llc	10000 Emmett F Lowry Expy, Texas City, TX 77591	03/27/2025	$ 3,900,000	1,002,063	1990	235,735	$ 39,926,700	$ 879,310	Jmk5 Mall Of The Mainland Llc
Ladder Capital Finance Llc	4200 S Fwy, Fort Worth, TX 76115	03/06/2025	$ 64,000,000	77,200	1960	14,095	$ 2,381,919	$ 694,800	Town Center Mall Lp
Ladder Capital Finance Llc	250 E Bolt St, Fort Worth, TX 76115	03/06/2025	$ 64,000,000	388,668	1960	117,949	$ 9,970,345	$ 1,166,004	Town Center Mall Lp
Ladder Capital Finance Llc	4200 South Fwy, Fort Worth, TX 76115	03/06/2025	$ 64,000,000	60,984	1960	10,068	$ 619,205	$ 182,952
Berkadia Commercial Mtg Llc	7010 Easy Wind Dr, Austin, TX 78757	02/25/2025	$ 102,186,000	39,422	2008	29,277	$ 9,787,153	$ 3,153,744	Mc Apartments Borrower Lp
Teachers Insurance&annuity Ass	1375 W Ih 20, Arlington, TX 76015	02/12/2025	$ 165,000,000	42,772	1987	4,632	$ 470,492	$ 470,492	Parks At Arlington Llc

Mean$ 80,598,200

Median$ 5,469,615.5

Loan Amount Range$ 75,000 - $ 650,000,000

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License Details

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