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Days74Days on Market
Views3view

$1,395,000

118 Cut Off Road, Port Aransas, TX, 78373

On MarketInfo
CommercialInfo
Baths3,100 Sq Ft
IndustrialIndustrial
price_per_sqft$450 / sqft
Year BuiltBuilt in 2001

Highlights

Interior

Heating CentralHeating Central
CoolingCooling

Exterior

Lot Size15,333 sqft

Building Information

Year Built2001
Roof Type114

Land Information

APN5488-0142-0053
Lot Number5
SubdivisionMustang Island
Land UseCommercial
Legal DescriptionMUSTANG ISLAND BLK 142 LOT 5-B
Census Tract005103
Assessed Land Value$767,100
Assessed Improvement Value$441,086
Assessment Year2025

About this property

Endless opportunity awaits at 118 Cut Off Rd!! Centrally located on a main thoroughfare of vibrant Port Aransas, this property is surrounded by city department buildings, The Civic Center our town meeting spot and the ferry landing the entry to town. An over 15,000 sq ft lot including a metal building that is an open slate to the next investor ready to make their business goals a realty. Formally known as the Sandbar and originally the Rusted Jeep, this property is currently set up to entertain as a cocktail lounge. On the first floor, the main bar seats over 15 patrons with space to mingle. Two restrooms are well appointed and a second bar seats 8+. Behind the bars, plenty of workspace for staff and the utilities needed for a full kitchen. Upstairs, you are welcomed by exceptional SHIP CHANNEL VIEWS! A third outdoor bar offers shade, sea breeze and a wonderful spot to enjoy company. A second set of customer bathrooms, office space and a private apartment with a full bath complete the floor. Offering appeal parking for over 22 vehicles and outdoor area to expand, this piece of real estate could make a great location for a golf cart shop, boat shop, rental management business and MORE!

Investor Tools

$1,101,074Estimated Mortgage Balance
$107,112Estimated Equity
8% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$8,370 /month
Positive
Cash Flow Estimate:
$2,790 /month

Interested in this property?

Ryan Richter

Tarpon Realty

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,798/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$15,533
$1,208,186
2025
$767,100
$441,086
$1,208,186
No

Tax History

Year
Tax Paid
Assessed Value
2024
$15,533
$1,208,186

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Simmons Bank
Stand Alone Second / Subordinate Position
$880,000
No
First
Jul 22, 2022
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$1,101,074
$107,112
8%
91%
$7,076/mo

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Port Aransas

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