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    Industrial Manufacturing Facility Title is generated by Realmo AI

    109 Garrett Morris Parkway, Mineral Wells, TX 76067

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    Pending
    $1,500,000

    COMMERCIAL - Mineral Wells, TX

    Property size:
    36,464 SF
    Lot size:
    5.61 Acres
    Added:
    Apr 21, 2026
    Days on Market:
    46
    Last Refresh:
    Jun 5 at 7:06 pm

    Property Features for 109 Garrett Morris Parkway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Parking Lot
    Standard status
    Pending
    APN
    06952
    Lot size
    5.61 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 5.609 AB 962 TR 10 D L PEERSON G#10962
    Tax Annual Amount
    29340

    Building Details

    Year built
    1960
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    Brick

    We can help!

    Listing Contact
    Jennifer Young

    Listing agent Jennifer Young License #0605611

    Listing office Haskell & Fern LLC McKinney, TX

    Listing date Apr 21, 2026

    MLS# 21162877

    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.

    HighLights

    • Approximately 36,464 SF industrial facility on approximately 5.6 acres in Mineral Wells’ industrial corridor
    • Built in 1960 with brick construction and concrete flooring
    • Includes approximately 3,500 SF office and approximately 20,000 SF HVAC‑served production space
    • 1618' clear height plus heavy power and one oversized grade‑level door
    • Two dock‑high loading doors and on‑site parking lot
    • Positioned just off Garrett Morris Parkway with access to Hwy 180 and quick connectivity to Interstate 20

    Overview

    This +/-36,464 SF industrial facility sits on +/-5.6 acres and is designed for production and logistics. The building includes +/-3,500 SF of office space and approximately +/-20,000 SF of HVAC-served production area. Clearance is listed at 1618' and the facility is equipped with heavy power. Loading and throughput are supported by one oversized grade-level door and two dock-high loading doors, giving operators flexibility for receiving and shipping.

    The property is positioned just off Garrett Morris Parkway, with immediate access to Hwy 180 and quick connectivity to Interstate 20. It sits within Mineral Wells’ established industrial corridor and is surrounded by major industrial users, including Tractor Supply, Airgas, Polymer Adhesives, and Perone Industries.

    For an owner-user, the combination of HVAC-served production, robust loading, and dedicated office space can fit a range of manufacturing or distribution operations that need practical day-to-day control on site. For investors, the asset’s industrial buildout and transport-oriented access make it a strong candidate for value-focused acquisition in a market with continued industrial demand.
    Property Profile Location Intelligence

    Current Use by Public Records

    Precision Branding (Bike/Boat/Book/etc) Store Precision Ammunition (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Mineral Wells
    County
    Palo Pinto
    State
    Texas
    Longitude
    -98.080807
    Latitude
    32.80981

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    FAQs

    What type of property is this?
    Manufacturing property - HVAC-served production space with office and dock-high plus grade-level loading supports manufacturing, distribution, or owner-user control.
    Where is this manufacturing property located?
    The property is located at 109 Garrett Morris Parkway Mineral Wells, TX.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: Approximately 36,464 SF industrial facility on approximately 5.6 acres in Mineral Wells’ industrial corridor; Built in 1960 with brick construction and concrete flooring; Includes approximately 3,500 SF office and approximately 20,000 SF HVAC‑served production space
    (214) 384-5827
    We can help!
    Listing Contact
    Jennifer Young
    Real Estate License ID: 0605611
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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.

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