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CVS Pharmacy 213 E San Patricio Ave 7,697 SF Retail Building Mathis, TX 78368 $1,110,000 ($144.21/SF) 7.50% Cap Rate
Investment Highlights
- New Lease Extension – CVS Corporate has committed to a 5-year lease extension, accompanied by a 7.5% rent increase, reflecting strong confidence
- Passive Lease Structure – Landlord responsibilities are limited to the structural elements of the roof and structure.
- Attractive City Developments – Mathis City Council have recently invested $30 million in capital improvements surrounding the city
- Market Dominance – This CVS operates with a significant competitive advantage as the sole major pharmacy chain in the city of Mathis.
- Investment Grade Tenant – The lease is backed by CVS Health Corporation, one of the largest pharmacy and healthcare companies in the United States.
Executive Summary
Broker of Record
Patrick Graham
License # 528005, 9005919 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Patrick Graham
License # 528005, 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
Retail
Property Subtype
Freestanding
Building Size
7,697 SF
Building Class
C
Year Built/Renovated
2002/2015
Price
$1,110,000
Price Per SF
$144.21
Cap Rate
7.50%
NOI
$83,250
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.64 AC
Zoning
Commercial - Commercial
Frontage
140’ on SAN PATRICIO AVE
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
CVS Pharmacy began as Consumer Value Stores in Lowell, Massachusetts in 1963 and introduced pharmacies inside stores a few years later in Cranston, Rhode Island. The business operates as part of CVS Health, a broader health care company that combines retail pharmacy with pharmacy services, mail order, specialty pharmacy, prescription delivery, vaccinations, and clinical support. CVS Pharmacy serves consumers through a wide network of neighborhood pharmacies and offers services tied to medication access, counseling, and wellness needs. Over time, the company expanded from a single store format into a major U.S. pharmacy presence with a national footprint in health care delivery.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 41308 | Improvements Assessment | $594,469 |
| Land Assessment | $44,688 | Total Assessment | $639,157 |
Property Taxes
Parcel Number
41308
Land Assessment
$44,688
Improvements Assessment
$594,469
Total Assessment
$639,157
Contacts
-
Jesus Melo -
Preston Schwartz -
Chad Kurz -
Matthews Real Estate Investment Services
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