For Sale
$1,300,000
213 San Patricio Ave Mathis, TX 78368
Texas Retail Property - Net Lease
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 138
Highlights
- Fee-simple ownership of a 6,500 SF CVS Pharmacy in Mathis, TX, offering a 6.40% cap rate and $83,205 annual NOI. The property is priced at $1,300,000.
- Lease recently extended to March 31, 2030, with five, five-year renewal options and a 7.5% rent increase. Corporate guarantee from CVS Health.
- Limited competition; the only major pharmacy chain in Mathis, with the nearest competitors 23-25 miles away.
- Investment-grade tenant (CVS Health), a Fortune 500 company with over 9,300 locations.
- Strong growth potential due to $30 million in recent city infrastructure improvements and a new rail loop near I-37.
Property Details for 213 San Patricio Ave
- Property type
- Retail properties, Drug stores
- Square Feet
- 6,500 SF
- Year Renovated
- 2002
Location Insight
- City
- Mathis
- County
- San Patricio
- State
- Texas
- Latitude
- 28.0933368
- Longitude
- -97.8262921
Nearby Similar for Sale
FAQs
- What type of property is this?
- Retail property - Texas Retail Property - Net Lease
- Where is the retail property located?
- The property is located at 213 San Patricio Ave Mathis, TX.
- What is the asking price?
- The asking price for this property is $1,300,000.
- What are key features of this property?
- This property features: Fee-simple ownership of a 6,500 SF CVS Pharmacy in Mathis, TX, offering a 6.40% cap rate and $83,205 annual NOI. The property is priced at $1,300,000.; Lease recently extended to March 31, 2030, with five, five-year renewal options and a 7.5% rent increase. Corporate guarantee from CVS Health.; Limited competition; the only major pharmacy chain in Mathis, with the nearest competitors 23-25 miles away.
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