I looked at the station coverage and did a quick search of businesses in the 60 dbu. It does hit a fairly decent population within the 50 dbu but economically, not a big number of businesses. And most of those businesses are small.
As for the price, based on what I see, is a bit high (assuming $79,000 is that price). With that said, coming with its own tower, facility and piece of land, it's a bargain. It compares in retail sales and permanent population to a small town station. If you could pick up a small town station in a rural county for about $79,000 you might think it a pretty fair deal but because it is adjacent to large population centers, it is a dud in the mind of many. In fact I presume many with the feeling it is a real dud have never worked such a situation to understand what is possible. I'm not saying it is an easy road but in radio I sure haven't found easy roads.
As for a Christian format, I think it is a poor choice. From statistics I have seen, 5.2% will listen to Christian radio. That's an old figure, however. When comparing all the flavors of Christianity to slice up the listening pie and then factor in that the area is a bilingual region, diving the percentage further, at best such a format would like have a cume that never hits 3 digits, ever.
I gather the idea of running a station in retirement and as a ministry is a nice idea but I suspect the operational costs and initial investment have clearly demonstrated that a ministry format is going to mean taking money away from retirement every month. I doubt it could sustain itself with the format.
Another consideration is hurricanes. This is right on the coast, luckily blocked by South Padre, but still in the target zone for hurricanes. You had better have a great insurance policy and be prepared to pick up the pieces if a bad one hits. Needless to say, staying on the air next to so much water, is not an option, as it would be unsafe and I doubt they have a generator in the first place.