Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Distressed Mixed-Use Property in Mathis Title is generated by Realmo AI

    118 N South St, Mathis, TX 78368

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $75,000

    Mixed-use property with residential and commercial potential in Mathis, TX.

    Type:General Commercial
    Property size:
    7,635 SF
    Price / SF:
    $9/SF
    Added:
    Jan 2, 2024
    Days on Market:
    872
    Last Refresh:
    Apr 1 at 9:31 pm

    Property Features for 118 N South St

    General Information

    Standard status
    Active
    Size
    7,635 SF
    Property subtype
    General Commercial

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Marc Longoria

    Listing agent Marc Longoria

    Listing office LPT Realty, LLC

    Listing date Jan 2, 2024

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of LPT Realty, LLC

    HighLights

    • Zoning: C2 (allowing for commercial use)
    • Potential for 5 apartment units and 3 commercial units
    • 8 Parking Spaces
    • Built in 1982
    • Guest Facilities: 3
    • Microbrewery located behind the building

    Overview

    This mixed-use property presents an opportunity for investors. The property appears to have been designed with 5 apartment units along E Rockport St and 3 commercial units along N South St. The property is distressed and requires renovation. The property size is 7635 square feet. A microbrewery is located behind the building. The seller is open to selling part of the property.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mathis
    County
    San Patricio
    State
    Texas
    Longitude
    -97.827331
    Latitude
    28.094306

    Nearby Similar for Sale

    • $65,000
      1,925 SF

      Commercial Building in Mathis, Texas

      Commercial building suitable for office, retail, or event use.
      123 E Laredo Street, Mathis, TX 78368
      View Details
    • $329,000
      2,002 SF

      Remodeled Commercial Property in Mathis, TX

      Move-in ready commercial property with office suites in Mathis, Texas.
      812 N Front Street, Mathis, TX 78368
      View Details
    • $175,000
      12,930 SF

      Versatile Commercial Building in Mathis, TX

      13,000 sqft commercial building in downtown Mathis, Texas.
      108 E San Patricio Avenue, Mathis, TX 78368
      View Details
    • $250,000
      3,563 SF

      Five-Unit Multifamily Property in Mathis

      Income-producing five-unit property with strong rental potential in Mathis, TX.
      319 S Nueces Street, Mathis, TX 78368
      View Details
    • $150,000
      1,175 SF

      Commercial Building Near Highway 359

      Commercial building located off Highway 359 in Mathis, Texas.
      1404 N State Highway 359, Mathis, TX 78368
      View Details
    • $625,000
      3,210 SF

      Turn-Key Oil Change Opportunity

      Turn-key oil change business and real estate for sale.
      1406 E Loop 459, Mathis, TX 78368
      View Details
    • $115,000
      3,160 SF

      Mathis Business Area Building

      Building in Mathis business area with versatile potential applications.
      623 N Front Street, Mathis, TX 78368
      View Details
    • $4,000,000
      70,000 SF

      INDUSTRIAL

      6291 S Interstate Hwy 37, Mathis, TX
      View Details
    • $175,000
      13,000 SF

      Versatile Commercial Building in Mathis, TX

      13,000 sqft commercial building in downtown Mathis, Texas for sale.
      108 E San Patricio Ave, Mathis, TX 78368
      View Details
    • $120,000
      840 SF

      Highway Frontage Commercial Building

      Newer commercial building on a high-traffic highway.
      908 TX-359, Mathis, TX 78368
      View Details
    • $1,599,900

      Lakeside Inn & Suites Mathis

      53-room hotel on 3.48 acres in Mathis, Texas.
      1500 TX-359, Mathis, TX 78368
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with residential and commercial potential in Mathis, TX.
    Where is this mixed-use property located?
    The property is located at 118 N South St Mathis, TX.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: Zoning: C2 (allowing for commercial use); Potential for **5 apartment units and 3 commercial units**; **8 Parking Spaces**
    (877) 366-2213
    We can help!
    Listing Contact
    Marc Longoria
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    118 N South St, Mathis, TX 78368
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!