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    199 Main St Odem, TX 78370

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    199 Main St Odem, TX 78370

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    • Retail properties & Spaces
    • 24,223.20 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 199 Main St

    Lot size
    24,223.20 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Drug stores

    Description

    This exceptional retail property, located at 199 Main St, Odem, TX 78370, presents a unique owner-user investment opportunity. Currently operating as a pharmacy/drug store and boasting 100% occupancy, this property offers immediate income potential. Situated on a substantial 24.2232-acre lot (buyer to verify), the building enjoys a prime location in the heart of Odem, benefiting from high daily traffic counts. The property is listed at $175,000 and is currently leased on a month-to-month basis to Echo Cottage Antique Mall. The lease is a gross lease. The property's precise square footage requires independent verification by the buyer. All information provided is based on Appraisal District records and while believed to be accurate, is not guaranteed. The property's APN is 60873/60880/60891. This is an excellent opportunity for an owner-user seeking a well-located, income-producing retail space in a thriving Texas community. Serious inquiries only. Buyer to conduct their own due diligence.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Odem
    County
    San Patricio
    State
    Texas
    Longitude
    -97.5824
    Latitude
    27.9505

    Comparable in this City

    • Value Estimation by Request
      1,450 SF

      1100 Voss Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,450 SF
      1100 Voss Ave, Odem, TX 78370-4547
      View Details
    • Value Estimation by Request
      15.00 Acres

      4908 Ih 37

      Land • 15.00 Acres
      4908 Ih 37, Odem, TX 78370
      View Details
    • Value Estimation by Request
      2.63 Acres

      1617 Cr

      COMMERCIAL (GENERAL) • 2.63 Acres
      1617 Cr, Odem, TX 78370
      View Details
    • Value Estimation by Request
      0.91 Acres

      18122 Hwy 234

      INDUSTRIAL (GENERAL) • 0.91 Acres
      18122 Hwy 234, Odem, TX 78370
      View Details
    • Value Estimation by Request
      0.09 Acres

      Hwy 77

      COMMERCIAL (GENERAL) • 0.09 Acres
      Hwy 77, Odem, TX 78370
      View Details
    • Value Estimation by Request
      0.19 Acres

      Hwy 77

      VACANT COMMERCIAL LAND • 0.19 Acres
      Hwy 77, Odem, TX 78370
      View Details

    Similar Nearby for Sale

    • $175,000
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      Former Pharmacy in Odem, TX

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    • $350,000
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      Retail Property on Highway 77

      High-visibility retail space in Odem, Texas, suitable for various businesses.
      1016 Voss Ave, Odem, TX 78370
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      Retail Building in Central Odem

      Retail building in high-traffic area, currently occupied.
      199 Main St, Odem, TX 78370
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    199 Main St
    Odem, TX 78370
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    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
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    199 Main St, Odem, TX, 78370

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