Two-Building Convenience Store
For Sale
$399,000
10502 Mineral Wells Highway, Weatherford, TX 76088
Brick commercial building with office, conference, and break-area improvements plus a second convenience-store structure.
Property Size1,885 SF
Price / SF$211.67
Days on Market19
Property Features for 10502 Mineral Wells Highway
General Information
Standard status
Active
Size
1,885 SF
Property subtype
Retail
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,286
Amenities
Electric
US Highway, Asphalt, Clear lot.
Building Details
Year Built
2016
Year Renovated
2016
Buildings
2
Construction
brick
Listing Agency:
SOURCE 1 REAL ESTATE
(940) 327-7783
Listed By:
Marty Logan · License #0587020
(940) 327-7783
Source:
Xome
Added: Aug 15
Changed: Sep 2
Last Checked: Sep 1 at 5:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SOURCE 1 REAL ESTATE
Investment Insights
Based on property information with market context.
This commercial property includes two buildings with separate water taps. The primary brick building measures 1,885 square feet and was remodeled in 2016, with a private office, conference room, and break area. Co-Op water and septic serve the property. A second structure of approximately 1,200 square feet was formerly used as a convenience store and may be remodeled or removed, subject to applicable approvals.
The property fronts approximately 200 feet along US 180 at the intersection with FM 113 S in Weatherford, just north of the new Allsup's marketplace. It also offers access to I-20 and US 180, with proximity to Weatherford and Mineral Wells. The surrounding area is described as experiencing residential population growth tied to expansion from the Metroplex.
The property fronts approximately 200 feet along US 180 at the intersection with FM 113 S in Weatherford, just north of the new Allsup's marketplace. It also offers access to I-20 and US 180, with proximity to Weatherford and Mineral Wells. The surrounding area is described as experiencing residential population growth tied to expansion from the Metroplex.
Key Highlights
- Two buildings with 2 water taps
- Approximately 200 ft. of US 180 frontage
- 1,885‑square‑foot brick building remodeled in 2016
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
$32,463
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
8.14%
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%
$649,260
$649.3K
Cap Rate 7%
$463,757
$463.8K
Cap Rate 9%
$360,700
$360.7K
Market Conditions
NOI Build-Up for 1,885 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
$45.5K $24.12/SF
− Vacancy
−$2.2K −$1.16/SF
EGI
$43.3K $22.96/SF
− OpEx
−$10.8K −$5.74/SF
NOI
$32.5K $17.22/SF
Area
Parker County, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
25.00%
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%
$649,260
Cap Rate 7%
$463,757
Cap Rate 9%
$360,700
Alternative Uses
Best Use
Specialty Retail
$463.8K
$405.8K – $541.1K
NOI $32,463 @ 7.0% cap · market cap 8.14%
Second Best
Retail
$433.3K
$379.1K – $505.5K
NOI $30,331 @ 7.0% cap · market cap 7.60%
Theoretical Best
Industrial
$1.87M
$1.64M – $2.19M
NOI $131,114 @ 7.0% cap · market cap 32.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76088, TX
13,794
Population
5,573
Households
2.5
Avg Household Size
42
Median Age
30%
College-Educated
93%
High-School Grad
161.5 sq mi
ZIP Area
85
Density / Sq Mi
$107,431
Median Household Income
$53,282
Median Earnings
$1,443
Median Rent
$374,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Brick commercial building with office, conference, and break-area improvements plus a second convenience-store structure.
Where is this grocery and convenience store located?
The property is located at 10502 Mineral Wells Highway Weatherford, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two buildings with 2 water taps; Approximately 200 ft. of US 180 frontage; 1,885‑square‑foot brick building remodeled in 2016
