Highway Frontage Commercial
For Sale
Contact for pricing
908 TX-359, Mathis, TX 78368
Newer commercial building on a high-traffic highway.
Property Size840 SF
Lot Size0.32 Acres
Price / SF$142.86
Days on Market634
Property Features for 908 TX-359
General Information
Standard status
Active
Size
840 SF
Lot size
0.32 Acres
Property subtype
Industrial, Mixed Use, Retail
Zoning
Commercial/Residential
Building Details
Year Built
2019
Buildings
1
Stories
1
Listing Agency:
Exp Realty
Listed By:
Frank Holdiness · License #0603392
(888) 519-7431
Source:
Crexi
Added: Dec 10, 2024
Changed: Aug 24
Last Checked: Sep 1 at 5:48AM
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 Exp Realty
Investment Insights
Based on property information with market context.
Located on Highway 359, this property includes a building constructed in 2021 with 840 square feet of space. Situated on two lots totaling 0.32 acres, the property is suitable for various uses, including retail, warehouse, or residential purposes with rezoning. The surrounding area is experiencing growth in Nueces and San Patricio Counties, particularly in Mathis, with increasing industry, workers, and business activity.
Key Highlights
- Located on busy HWY 359, providing high visibility and accessibility.
- Situated in Mathis, a town experiencing significant growth and industry influx.
- Built in 2019/2021, indicating a relatively new construction.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,505
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$170,100
$170.1K
Cap Rate 7%
$121,500
$121.5K
Cap Rate 9%
$94,500
$94.5K
Market Conditions
NOI Build-Up for 840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$15.1K $18.00/SF
− Vacancy
−$1.5K −$1.80/SF
EGI
$13.6K $16.20/SF
− OpEx
−$5.1K −$6.07/SF
NOI
$8.5K $10.13/SF
Area
San Patricio County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$170,100
Cap Rate 7%
$121,500
Cap Rate 9%
$94,500
Alternative Uses
Best Use
Mixed Use
$121.5K
$106.3K – $141.8K
NOI $8,505 @ 7.0% cap · market cap 7.09%
Second Best
Warehouse
$79.7K
$69.7K – $93.0K
NOI $5,578 @ 7.0% cap · market cap 4.65%
Theoretical Best
Hotel Hospitality
$430.9K
$377.1K – $502.7K
NOI $30,164 @ 7.0% cap · market cap 25.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Newer commercial building on a high-traffic highway.
Where is this mixed-use property located?
The property is located at 908 TX-359 Mathis, TX.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Located on busy HWY 359, providing **high visibility and accessibility**.; Situated in Mathis, a town experiencing significant growth and industry influx.; Built in 2019/2021, indicating a relatively new construction.
