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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 in 1963 as Consumer Value Stores in Lowell, Massachusetts, and the CVS name followed the next year. Pharmacies were added to CVS stores in Cranston, Rhode Island, and the business later became part of CVS Health, which expanded the enterprise into retail pharmacy, prescription benefits, and related health services. CVS Pharmacy operates as a retail pharmacy chain with neighborhood, mail-order, and specialty pharmacy services, plus prescription delivery and savings support. The company sells over-the-counter medicines, beauty products, seasonal merchandise, and convenience foods, and offers in-store and virtual care through MinuteClinic and related services.
| 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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