213 San Patricio AveMathis, TX 78368

Property Details for 213 San Patricio Ave

Year built

2002

Construction

STEEL FRAME

Lot size

0.64 AC

Property size (Sq ft)

7,625 SF

Property type

Commercial real estate

APN

0839-0022-0009-004

APU

83900220009004

Description

This exceptional investment opportunity presents a fee-simple ownership of a 6,500 square foot CVS Pharmacy in Mathis, Texas. The property boasts a strong 6.40% cap rate, generating a net operating income (NOI) of $83,205 annually. The current lease, a Net Lease (NN+) with a corporate guarantee from CVS Health, commenced March 6, 2015, and extends to March 31, 2030, with five, five-year renewal options. The tenant, a Fortune 500 company, recently exercised an option, extending the lease term and increasing rent by 7.5%, demonstrating a long-term commitment. Located at 213 E San Patricio Ave, Mathis, TX 78368, this single-tenant property benefits from limited competition within the city and enjoys 100% occupancy. The property was renovated in 2002 and is situated in a growing area experiencing significant city improvements, including a $30 million investment in infrastructure and the development of a new rail loop near Interstate 37. This presents a compelling investment opportunity with a strong tenant, favorable lease terms, and significant growth potential in a tax-advantaged location. The property is currently priced at $1,300,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,170,200

  6.5%

  $1,080,190

  7%

  $1,003,030

• Comparable approach

  Method

  Valuation

  Relative Method

  $668,920

  Geo Method

  $1,732,930

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,123,760

  Retail / Commercial

  $1,089,620

  Mixed-Use / Specialty

  $1,086,180

  Hospitality / Lodging

  $797,472

  Office

  $1,080,190

  Institutional / Educational

  $1,129,340

  Residential Income

  $1,321,330

  Multifamily

  $1,582,270

  Automotive / Energy

  $968,010

  Parking / Income-Based Land

  $333,609

  Restaurant / Food Service

  $565,877

  Healthcare / Senior Housing

  $1,113,400

Location Insight

City

Mathis

County

San Patricio

State

Texas

Latitude

28.0932

Longitude

-97.8262

CBSA code

18580

CBSA name

CORPUS CHRISTI, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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