Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1601 Mathis St Rockport, TX 78382

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,700,000

    Development site primed for multifamily community build-out in Rockport, Texas.

    Lot size:
    5.97 Acres

    Property Features for 1601 Mathis St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    5.97 Acres

    Building Details

    Year built
    2022

    We can help!

    Listing Contact
    Heather Knox
    Source: Elliman

    Listing Agency: EXP Realty, LLC Listing Agent: Heather Knox

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

    Learn more

    Overview

    Rockport Multifamily Development Opportunity

    This approximately 6-acre property in Rockport, Texas, presents a multifamily development opportunity. The site has substantial progress already in place, including 10 foundations poured and ready, and 6 duplex structures approximately 40% complete. The property has an approved capacity for 19 total duplexes, which is 38 doors. All city utilities are available. Zoned and positioned for multi-family and commercial use, this property offers a head start for developers and investors. The location is ideal for a rental community, long-term workforce housing, or vacation rental duplexes. Rockport continues to see strong demand for rentals and workforce housing driven by steady economic growth, tourism, and coastal lifestyle appeal. The property is located minutes from downtown Rockport, beaches, marinas, and dining. Sea breezes, fishing, coastal recreation, and a strong community environment make Rockport an attractive place to live and invest on the Texas Gulf Coast.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockport
    County
    Aransas
    State
    Texas
    Longitude
    -97.06355
    Latitude
    28.007685

    Nearby Similar for Sale

    • New
      $450,000
      Pending

      Commercial Building on Highway 35

      2,160 SF commercial building with high traffic visibility.
      3301 State Highway 35 Byp N, Rockport, TX 78382
      View Details
    • $498,000
      2,400 SF

      Rockport Retail/Office Remodel Opportunity

      High-visibility Rockport property remodeled for retail, office, or specialty uses.
      904 State Highway 35 Byp S, Rockport, TX 78382
      View Details
    • $360,000
      3,340 SF

      Versatile Shop on Unrestricted Lots

      Unrestricted Rockport property with shop, office space, and dual access.
      2324 Monkey Rd, Rockport, TX 78382
      View Details
    • $639,850
      2,250 SF

      Downtown Rockport Storefront Opportunity

      Prime location for store, restaurant, bar, or office space.
      508 S Austin St, Rockport, TX 78382
      View Details
    • $379,900
      3,990 SF

      Rockport Warehouse with Office Space

      3990 sqft warehouse with office and bathroom in Rockport.
      823 S Terry St, Rockport, TX 78382
      View Details
    • $349,000
      0.23 Acres

      Commercial Land in Rockport, TX

      Commercial land with high potential near HEB and Taco Bell.
      1502 State Highway 35 Byp N, Rockport, TX 78382
      View Details
    • $489,500
      1,008 SF

      Rockport Income-Generating Single Family Package

      Three income-producing units on 4 acres in Rockport, Texas.
      1201 Weeping Willow, Rockport, TX 78382
      View Details
    • New
      $410,000
      2,400 SF

      Rockport Fourplex Near Amenities

      Fourplex in Rockport, TX, near shops, restaurants, and beaches.
      1409 E Alamito St, Rockport, TX 78382
      View Details
    • New
      $445,000
      Pending

      Rockport Duplex Investment Opportunity

      Two duplexes on one parcel, steps from the water.
      501 Traylor Blvd, Rockport, TX 78382
      View Details
    • $599,000
      5,000 SF

      Rockport, TX Warehouse Opportunity

      5,000 sq ft warehouse with highway access in Rockport.
      916 Fuqua St, Rockport, TX 78382
      View Details
    • $599,000
      5,000 SF

      Spacious Warehouse in Coastal Rockport

      5,000 sqft warehouse with highway access and owner financing.
      916 Fuqua St, Rockport, TX 78382
      View Details
    • New
      $340,000
      1,933 SF

      Rockport Investment Property: Three Cottages

      Investment opportunity: three cottages in Rockport, near beach and downtown.
      402 E Nopal St, Rockport, TX 78382
      View Details

    FAQs

    What type of property is this?
    Commercial land - Development site primed for multifamily community build-out in Rockport, Texas.
    Where is this commercial land located?
    The property is located at 1601 Mathis St Rockport, TX.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: - ~6-acre multi-family development site in a fast-growing coastal market.; - Approved for **19 duplexes (38 doors)** with city utilities available.; - **10 foundations poured and 6 duplex structures approximately 40% complete.**
    (951) 533-6926
    Request Owner's contact information
    1601 Mathis St Rockport, TX 78382
    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.
    1601 Mathis St
    Rockport, TX 78382
    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
    1601 Mathis St Rockport, TX 78382
    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

    We can help!
    Listing Contact
    Heather Knox
    Real Estate License ID: 0772118
    (951) 533-6926 (888) 519-7431 (714) 987-3310
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!