Storefront Building with
For Sale
$535,000
3500 KEMP BOULEVARD, Wichita Falls, TX 76308
COMMERCIAL, Wichita Falls, TX
Property Size2,472 SF
Lot Size0.42 Acres
Price / SF$216.42
Days on Market138
Property Features for 3500 KEMP BOULEVARD
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
10W WFalls Southwest
Standard status
Active
Lot size
0.42 Acres
Listing Agency:
DOMAIN REAL ESTATE SERVICES INC
(940) 767-5060
Listed By:
RODD WOMBLE · License #0290048
(940) 733-2279
Added: Apr 13
Changed: Aug 27
Last Checked: Aug 28 at 9:06PM
MLS# 182906
Copyright © 2026 Wichita Falls 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.
Investment Insights
Based on property information with market context.
This storefront property includes an approximately 2,472-square-foot building situated on approximately 18,270 square feet of land. The asset is positioned along Kemp Boulevard in Wichita Falls and is presented as a commercial real estate offering.
The business currently operating from the property will continue during the listing period but is not included in the sale. The transaction therefore covers the building and land rather than the operating business.
The business currently operating from the property will continue during the listing period but is not included in the sale. The transaction therefore covers the building and land rather than the operating business.
Key Highlights
- Approximately 2,472 square feet of building area
- Approximately 18,270 square feet of land
- Located on Kemp Boulevard in Wichita Falls
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,939
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$558,780
$558.8K
Cap Rate 7%
$399,129
$399.1K
Cap Rate 9%
$310,433
$310.4K
Market Conditions
NOI Build-Up for 2,472 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.5K $18.00/SF
− Vacancy
−$4.6K −$1.85/SF
EGI
$39.9K $16.15/SF
− OpEx
−$12.0K −$4.84/SF
NOI
$27.9K $11.30/SF
Area
Wichita Falls, TX
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$558,780
Cap Rate 7%
$399,129
Cap Rate 9%
$310,433
Alternative Uses
Best Use
Retail
$399.1K
$349.2K – $465.7K
NOI $27,939 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.95M
$2.58M – $3.44M
NOI $206,512 @ 7.0% cap · market cap 38.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
449k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 22%
Apparel 17%
Home Improvements & Furnishings 10%
Academy Sports + Outdoors
Apparel
65,814 visits/mo
0.4 miles
Five Below
Shops & Services
49,747 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
41,878 visits/mo
0.4 miles
McDonald's
Dining
36,701 visits/mo
0.3 miles
Olive Garden
Dining
29,983 visits/mo
0.5 miles
Demographics for 76308, TX
20,305
Population
9,601
Households
2.1
Avg Household Size
35
Median Age
35%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
2,603
Density / Sq Mi
$70,789
Median Household Income
$40,433
Median Earnings
$1,083
Median Rent
$198,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - The real estate is offered separately while the existing business continues operating during the sale process.
Where is this storefront property located?
The property is located at 3500 KEMP BOULEVARD Wichita Falls, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Approximately 2,472 square feet of building area; Approximately 18,270 square feet of land; Located on Kemp Boulevard in Wichita Falls
