Multi-Tenant Shopping
1409 E Main Street, Gatesville, TX 76528
For Sale
Contact for pricing
The center is fully leased to medical, restaurant, and fitness tenants, with an adjacent H-E-B serving as a shadow anchor.
Property Size17,768 SF
Price / SF$135.07
Days on Market34
Property Features for 1409 E Main Street
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Asking Price
Anchor Co-Tenants
Tenant in Place
Building Details
Tenancy
Listing Agency:
RESOLUT RE San Antonio
Listed By:
Ray Kang · License TX #693716
(210) 471-9757
Source:
Crexi
Added: Oct 8
Changed: Nov 8
Last Checked: Nov 10 at 6:29AM
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 RESOLUT RE San Antonio
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Investment Insights
Based on property information with market context.
Located at 1409 E Main Street in Gatesville, this 17,768-square-foot retail center is fully occupied and configured for multiple tenants. Its roster includes UTMB, East Garden Chinese Buffet, and Anytime Fitness. UTMB, a State of Texas and UT System credit, occupies roughly one-third of the center’s rentable area and pays under a gross lease that includes two five-year options. East Garden’s lease was executed in 2026, while UTMB’s was signed in 2025; Anytime Fitness renewed in 2023.
The center sits on E. Main Street, adjacent to an H-E-B that acts as a shadow anchor. These nearby uses complement the property’s medical, dining, and fitness tenancy. East Garden is scheduled to reach full rent in January 2027, and the Anytime Fitness lease expires in 2028.
The center sits on E. Main Street, adjacent to an H-E-B that acts as a shadow anchor. These nearby uses complement the property’s medical, dining, and fitness tenancy. East Garden is scheduled to reach full rent in January 2027, and the Anytime Fitness lease expires in 2028.
Key Highlights
- ±17,768 SF multi‑tenant retail center; 100% leased
- Tenant mix includes UTMB, East Garden Chinese Buffet, and Anytime Fitness
- Adjacent to an H‑E‑B on E. Main Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$211,340
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,226,800
$4.2M
Cap Rate 7%
$3,019,143
$3.0M
Cap Rate 9%
$2,348,222
$2.3M
Market Conditions
NOI Build-Up for 17,768 SF
Gross rent
$319.8K $18.00/SF
− Vacancy
−$17.9K −$1.01/SF
EGI
$301.9K $16.99/SF
− OpEx
−$90.6K −$5.10/SF
NOI
$211.3K $11.89/SF
Area
Coryell County, TX
Vacancy
5.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,226,800
Cap Rate 7%
$3,019,143
Cap Rate 9%
$2,348,222
Alternative Uses
Best Use
Specialty Retail
$3.69M
$3.23M – $4.30M
NOI $258,258 @ 7.0% cap · market cap 10.76%
Second Best
Retail
$3.02M
$2.64M – $3.52M
NOI $211,340 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$4.27M
$3.73M – $4.98M
NOI $298,741 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76528, TX
18,773
Population
7,311
Households
2.6
Avg Household Size
40
Median Age
18%
College-Educated
89%
High-School Grad
486.3 sq mi
ZIP Area
39
Density / Sq Mi
$66,989
Median Household Income
$37,705
Median Earnings
$848
Median Rent
$189,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - The center is fully leased to medical, restaurant, and fitness tenants, with an adjacent H-E-B serving as a shadow anchor.
Where is this shopping center located?
The property is located at 1409 E Main Street Gatesville, TX.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: ±17,768 SF multi‑tenant retail center; 100% leased; Tenant mix includes UTMB, East Garden Chinese Buffet, and Anytime Fitness; Adjacent to an H‑E‑B on E. Main Street
