Commercial Building in Burkburnett,
For Sale
$169,000
101 E 3rd St, Burkburnett, TX 76354
Versatile 1,500+ sqft property on 0.26-acre corner lot.
Property Size1,500 SF
Lot Size0.26 Acres
Price / SF$112.67
Days on Market510
Property Features for 101 E 3rd St
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.26 Acres
Taxes and HOA fees
Annual Taxes
$1,850
Listing Agency:
Parker Properties Real Estate
(940) 627-9040
Listed By:
Aimee Ashley · License #0719752
(940) 627-9040
Source:
Exprealty
Added: Mar 17, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:03AM
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 Parker Properties Real Estate
Investment Insights
Based on property information with market context.
This commercial building is located in Burkburnett, TX. The property offers over 1,500 sqft of space and sits on a 0.26-acre corner lot. It benefits from high visibility due to its location on two main streets. The property is suitable for retail, office use, or mixed development. The lot size allows for ample parking and expansion potential. The property is located in a thriving community with easy access to larger city amenities.
Key Highlights
- High‑visibility corner lot location on two main streets.
- Versatile 1,500+ sqft space suitable for retail, office, or mixed development.
- Large 0.26‑acre lot with ample parking and expansion potential.
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
$15,188
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
8.99%
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%
$303,760
$303.8K
Cap Rate 7%
$216,971
$217.0K
Cap Rate 9%
$168,756
$168.8K
Market Conditions
NOI Build-Up for 1,500 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
$27.0K $18.00/SF
− Vacancy
−$2.7K −$1.80/SF
EGI
$24.3K $16.20/SF
− OpEx
−$9.1K −$6.07/SF
NOI
$15.2K $10.13/SF
Area
Wichita County, TX
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$303,760
Cap Rate 7%
$216,971
Cap Rate 9%
$168,756
Alternative Uses
Best Use
Office B
$358.4K
$313.6K – $418.2K
NOI $25,091 @ 7.0% cap · market cap 14.85%
Second Best
Retail
$290.3K
$254.0K – $338.6K
NOI $20,318 @ 7.0% cap · market cap 12.02%
Theoretical Best
Office A
$411.9K
$360.5K – $480.6K
NOI $28,836 @ 7.0% cap · market cap 17.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
Explore this area
Business Placement
Demographics for 76354, TX
11,496
Population
5,207
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
93%
High-School Grad
82.6 sq mi
ZIP Area
139
Density / Sq Mi
$68,614
Median Household Income
$41,518
Median Earnings
$954
Median Rent
$148,700
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?
Retail space - Versatile 1,500+ sqft property on 0.26-acre corner lot.
Where is this retail space located?
The property is located at 101 E 3rd St Burkburnett, TX.
What is the asking price?
The asking price for this property is $169,000.
What are key features of this property?
This property features: High‑visibility corner lot location on two main streets.; Versatile 1,500+ sqft space suitable for retail, office, or mixed development.; Large 0.26‑acre lot with ample parking and expansion potential.
