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    202 W 3rd Street Hale Center, TX 79041

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    Claim this Listing
    For Sale
    $375,000

    COMMERCIAL - Hale Center, TX

    Property size:
    41,002 SF
    Lot size:
    2.57 Acres
    Price / SF:
    $9/SF
    Added:
    Feb 13, 2025
    Days on Market:
    436
    Last Refresh:
    Apr 25 at 6:06 am

    Property Features for 202 W 3rd Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Fencing
    Chain Link
    Standard status
    Active
    APN
    10989
    Size
    41,002 SF
    Lot size
    2.57 Acres

    Taxes and HOA fees

    Tax Description
    All of Block 125, Original Town

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Flooring type
    Vinyl
    Building materials
    Brick Veneer
    Roof type
    Composition

    We can help!

    Listing Contact
    Kimberlyn Street

    Listing agent Kimberlyn Street License #0483628

    Listing office Street Real Estate 3010 Olton Rd, Plainview, TX

    Listing date Feb 13, 2025

    MLS# 202550511

    Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Hale Center Investment Opportunity

    This commercial property in Hale Center offers a substantial investment opportunity. The property encompasses almost 15,000 square feet and has undergone significant improvements, with approximately $300,000 invested in 2016 and an additional $130,000 in 2021. The layout includes 22 bedrooms, a kitchen, a dining room, and a recreation room, along with a basement. Several other rooms are available for use as offices, break rooms, and storage. The property spans an entire city block and includes the former Hale Center Hospital. The lot size is 2.57 acres. Sellers will consider a lease.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    hale center health ... Nursing Home

    Suggested Use

    Restaurant Spa & Massage Center Dental Office Hair Salon Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Nail Salon Auto Parts Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hale Center
    County
    Hale
    State
    Texas
    Longitude
    -101.847112
    Latitude
    34.06044

    Nearby Similar for Sale

    • $90,000
      1,144 SF

      Remodeled Commercial Space in Hale Center

      Remodeled commercial space with owner financing options in Hale Center.
      117 W 4th Street, Hale Center, TX 79041
      View Details
    • $939,320
      8,320 SF

      Retail Property on West Cleveland

      Retail property with corporate guarantee and high visibility.
      206 W Cleveland St, Hale Center, TX
      View Details
    • $395,000

      Hale Center Investment Property

      4.35 acres with mobile homes and barn.
      1530 I-27, Hale Center, TX 79041
      View Details

    FAQs

    What type of property is this?
    Hospital - Large commercial property with recent improvements in Hale Center, TX.
    Where is this hospital located?
    The property is located at 202 W 3rd Street Hale Center, TX.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: Almost 15,000 SF of space.; Significant improvements totaling $430,000.; Includes the old Hale Center Hospital.
    (806) 293-9944
    We can help!
    Listing Contact
    Kimberlyn Street
    Real Estate License ID: 0483628
    Learn More
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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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