CVS-Occupied Drug
213 E San Patricio Ave, Mathis, TX 78368
For Sale
New
Contact for pricing
CVS has committed to extending its lease for five years at this Mathis retail property.
Property Size7,697 SF
Price / SF$144.21
Days on Market7
Property Features for 213 E San Patricio Ave
General Information
Standard status
Size
Property subtype
Additional Details
Tenant in Place
Listing Agency:
Matthews Real Estate Investment Services | Dallas
(866) 889-0550
Listed By:
Jesus Melo
(682) 970-5021
Source:
Moodyscre
Added: Nov 4
Changed: Nov 7
Last Checked: Nov 10 at 10:17AM
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 Matthews Real Estate Investment Services | Dallas
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Investment Insights
Based on property information with market context.
The 7,697-square-foot drug store at 213 E San Patricio Ave in Mathis, Texas is occupied by CVS. CVS has committed to a five-year lease extension, which includes a 7.5% rent increase. CVS has also announced a move toward a smaller store format.
Key Highlights
- 7,697‑square‑foot CVS drug store
- CVS committed to a five‑year lease extension
- Lease extension includes a 7.5% rent increase
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,500
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,000
$690.0K
Cap Rate 7%
$492,857
$492.9K
Cap Rate 9%
$383,333
$383.3K
Market Conditions
NOI Build-Up for 7,697 SF
Gross rent
$53.6K $6.96/SF
− Vacancy
−$4.3K −$0.56/SF
EGI
$49.3K $6.40/SF
− OpEx
−$14.8K −$1.92/SF
NOI
$34.5K $4.48/SF
Area
San Patricio County, TX
Vacancy
8.00%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$690,000
Cap Rate 7%
$492,857
Cap Rate 9%
$383,333
Alternative Uses
Best Use
Specialty Retail
$1.96M
$1.71M – $2.28M
NOI $136,883 @ 7.0% cap · market cap 12.33%
Second Best
Retail
$492.9K
$431.3K – $575.0K
NOI $34,500 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,849 @ 7.0% cap · market cap 13.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 78368, TX
8,726
Population
4,992
Households
1.7
Avg Household Size
43
Median Age
12%
College-Educated
77%
High-School Grad
206.5 sq mi
ZIP Area
42
Density / Sq Mi
$41,286
Median Household Income
$39,094
Median Earnings
$806
Median Rent
$87,300
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
Similar Off Market Nearby
- Krazy 8 Nutrition — 110 S Duval St unit a, Mathis, TX 78368
- Carrie Landino — 213 E San Patricio Ave, Mathis, TX 783682347
- Juan Medina — 213 E San Patricio Ave, Mathis, TX 783682347
- CVS Pharmacy — 213 E San Patricio Ave, Mathis, TX 78368
Frequently Asked Questions
What type of property is this?
Drug store - CVS has committed to extending its lease for five years at this Mathis retail property.
Where is this drug store located?
The property is located at 213 E San Patricio Ave Mathis, TX.
What is the asking price?
The asking price for this property is $1,110,000.
What are key features of this property?
This property features: 7,697‑square‑foot CVS drug store; CVS committed to a five‑year lease extension; Lease extension includes a 7.5% rent increase
