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ASAS Health | 8.15% Cap | NN+ Lease 201 Mariposa 9,532 SF 100% Leased Office Building Alice, TX 78332 $1,315,141 ($137.97/SF) 8.15% Cap Rate
INVESTMENT HIGHLIGHTS
- Established Market Leader – In 2021, ASAS Health partnered with Alpine Physician Partners, expanding its senior patient membership
- Recently Executed NN+ Lease – A new five-year NN lease was executed in 2024 following ASAS Health’s acquisition of the practice
- Billion Dollar Market – The U.S. primary care physician market was valued at approximately $271 billion in 2023
- Recession-Resistant Asset Class – Healthcare real estate remains a resilient investment category, driven by the non-discretionary demand
- Affluent Surrounding Demographics – The ±one-mile trade area surrounding the asset features average household incomes exceeding $94,513.
- Tax-Free/Top Destination State – Texas is one of nine U.S. states with no personal income tax, offering potential tax efficiencies for investors.
EXECUTIVE SUMMARY
Matthews Real Estate Investment Services™ Healthcare Division is proud to present the exclusive opportunity to acquire a premier healthcare investment leased to ASAS Health, a physician-led primary care organization operating more than 25+ locations across South Texas.
This offering features a 100% fee simple interest in a ±6,960-square-foot medical facility situated on a ±0.81-acre parcel in Alice, Texas. The property is fully leased on a NN+ basis to ASAS Health, with CPI-based rental escalations and approximately five years of remaining lease term. The tenant reimburses up to $5,000 per year for capital improvements.
Strategically located less than one mile from CHRISTUS Spohn Hospital, the asset benefits from strong proximity to a key referral source and local healthcare infrastructure.
ASAS Health joined Alpine Physician Partners in 2021, aligning with a national medical group focused on value-based care for the senior population (65+). This partnership has enhanced ASAS Health’s operational scale, resource access, and delivery consistency under a proven, patient-centered model.
Positioned within a sector projected to exceed $378 billion by 2030, this offering provides investors a compelling opportunity to secure stable, passive income backed by a mission-critical healthcare tenant. The combination of a strong operator, hospital-adjacent location, and long-term market fundamentals makes this a durable and attractive
healthcare real estate investment.
Broker of Record
Patrick Graham
License # 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
This offering features a 100% fee simple interest in a ±6,960-square-foot medical facility situated on a ±0.81-acre parcel in Alice, Texas. The property is fully leased on a NN+ basis to ASAS Health, with CPI-based rental escalations and approximately five years of remaining lease term. The tenant reimburses up to $5,000 per year for capital improvements.
Strategically located less than one mile from CHRISTUS Spohn Hospital, the asset benefits from strong proximity to a key referral source and local healthcare infrastructure.
ASAS Health joined Alpine Physician Partners in 2021, aligning with a national medical group focused on value-based care for the senior population (65+). This partnership has enhanced ASAS Health’s operational scale, resource access, and delivery consistency under a proven, patient-centered model.
Positioned within a sector projected to exceed $378 billion by 2030, this offering provides investors a compelling opportunity to secure stable, passive income backed by a mission-critical healthcare tenant. The combination of a strong operator, hospital-adjacent location, and long-term market fundamentals makes this a durable and attractive
healthcare real estate investment.
Broker of Record
Patrick Graham
License # 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
9,532 SF
Building Class
B
Year Built
2000
Price
$1,315,141
Price Per SF
$137.97
Cap Rate
8.15%
NOI
$107,184
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
6,960 SF
Building FAR
0.28
Lot Size
0.78 AC
1 1
PROPERTY TAXES
| Parcel Number | 11635-114-000-00 | Improvements Assessment | $486,901 |
| Land Assessment | $135,000 | Total Assessment | $621,901 |
PROPERTY TAXES
Parcel Number
11635-114-000-00
Land Assessment
$135,000
Improvements Assessment
$486,901
Total Assessment
$621,901
CONTACTS
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Andrew Fagundo -
Rahul Chhajed -
Michael Moreno -
Matthews Real Estate Investment Services
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ASAS Health | 8.15% Cap | NN+ Lease | 201 Mariposa
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