Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2618 Old Iowa Park Road Wichita Falls, TX 76306

    View on Map
    For Sale
    $350,000

    Office - Wichita Falls, TX

    Type:Office
    Lot size:
    0.69 Acres
    Added:
    Nov 25, 2025
    Days on Market:
    127
    Last Refresh:
    Apr 1 at 1:06 pm

    Property Features for 2618 Old Iowa Park Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    104603
    Lot size
    0.69 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1994
    Flooring type
    Carpet, Tile, Tile - Ceramic
    Building materials
    Brick
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Carla Rogers
    Carla Rogers

    Listing agent Carla Rogers License #0538455

    Listing office Hirschi Realtors 3631 Maplewood Avenue, Suite 1, Wichita Falls, TX

    Listing date Nov 25, 2025

    MLS# 20778371 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Wichita Falls Financial Services Property

    This financial services property offers 4800 square feet of professional office space, suitable for a financial institution. The layout includes six offices, with the potential for more, a supply room, and a break room. A vault is equipped with 3x5, 3x10, 5x10, and 10x10 safe deposit boxes. The property features a spacious lobby, indoor teller cubicles, and a drive-up ATM with interior access for refills. It also includes three drive-thru lanes complete with a pneumatic tube system and teller drive-up drawer, an equipment room, a night drop, and an IT room, along with assorted security features. The property also has 0.689 acres of land. All furnishings remain. The property is located in Wichita Falls, TX.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Pilgrim Bank Bank

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita Falls
    County
    Wichita
    State
    Texas
    Longitude
    -98.521583
    Latitude
    33.928655

    Nearby Similar for Sale

    • $475,000
      9,740 SF

      Wichita Falls Warehouse on Highway

      Warehouse property with highway frontage and multiple buildings for sale.
      371 S HWY 287, Wichita Falls, TX 76310
      View Details
    • $599,500
      6,396 SF

      Medical Office Near United Regional

      Office building near hospital, suitable for medical or professional uses.
      1515 10TH STREET, Wichita Falls, TX 76301
      View Details
    • $590,000

      Wichita Falls Commercial Property

      7,200 sqft building on 1.56 acres, ideal for various uses.
      1522 Weeks Street, Wichita Falls, TX 76302
      View Details
    • $495,000
      6,328 SF

      Wichita Falls Office Building

      Multipurpose commercial building in medical district near United Regional Hospital.
      1501 BROOK AVENUE, Wichita Falls, TX 76301
      View Details
    • $450,000
      2,915 SF

      Wichita Falls Office Building For Sale

      Versatile office building with excellent visibility and convenient access.
      4501 NORTHWEST FREEWAY, Wichita Falls, TX 76306
      View Details
    • $625,000

      Refurbished Historic Building in Downtown

      Meticulously refurbished historic building in revitalizing downtown area.
      809 ohio Avenue, Wichita Falls, TX 76301
      View Details
    • $99,000

      Former Neon Spur Entertainment Venue

      Versatile venue near MPEC, ideal for restaurant, bar, or events.
      200 N Burnett Street, Wichita Falls, TX 76306
      View Details
    • $1,500,000
      28,159 SF

      Wichita Falls Commercial/Industrial Property

      28,000+ SF building on 3.89 acres in Wichita Falls.
      2901 JACKSBORO HIGHWAY, Wichita Falls, TX 76302
      View Details
    • $175,000
      1,618 SF

      Downtown Wichita Falls Office Building

      1,618 SF office building in the heart of downtown.
      709 INDIANA AVENUE, Wichita Falls, TX 76301
      View Details
    • $475,000
      15,751 SF

      Wichita Falls Strip Center

      Centrally located strip center with strong income potential.
      1900 9TH STREET, Wichita Falls, TX 76301
      View Details
    • $199,900

      Renovated Commercial Building in Wichita Falls

      Versatile, renovated commercial space suitable for retail, office, or creative uses.
      2710 Grant, Wichita Falls, TX 76309
      View Details
    • $189,500

      Historic Building in Downtown Wichita

      Three-story building in downtown Wichita Falls with owner financing.
      917 Scott Avenue, Wichita Falls, TX 76301
      View Details

    FAQs

    What type of property is this?
    Office building - Professional office space ideal for financial institution with existing infrastructure.
    Where is this office building located?
    The property is located at 2618 Old Iowa Park Road Wichita Falls, TX.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Fully furnished 4800 sq ft professional office space ready for immediate use.; Includes a vault with various sizes of safe deposit boxes (3x5, 3x10, 5x10 & 10x10).; Features **3 drive‑thru lanes with pneumatic tube system and teller drive‑up drawer.**
    (940) 692-8120
    We can help!
    Listing Contact
    Carla Rogers
    Carla Rogers
    Real Estate License ID: 0538455
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!