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

    2501 Garrett Morris Pkwy Mineral Wells, TX 76067

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,400,000

    Two connected buildings on 5 acres, ideal for redevelopment.

    Property size:
    12,660 SF
    Lot size:
    5.06 Acres

    Property Features for 2501 Garrett Morris Pkwy

    General Information

    Standard status
    Active
    Size
    12,660 SF
    Lot size
    5.06 Acres

    Building Details

    Year built
    1982

    We can help!

    Listing Contact
    Christy Dorr
    Source: Exitrealty

    Listing Agency: Cornerstone Home and Ranch Listing Agent: Christy Dorr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Commercial Property with Acreage

    This commercial property features over 12,000 square feet of space in two connected buildings. Currently operating as a PK-12 private school, the property can be adapted for various business or investment purposes. The interior walls are non-load-bearing, offering flexibility in partitioning or complete removal. Situated on over 5 fenced acres, the property includes frontage access to two FM Roads, providing visibility and access to Mineral Wells Regional Airport. The property features multiple offices, classrooms, common areas, workrooms, a library, computer and science labs, restrooms, and a kitchen area. The location is in a community becoming a tourist and outdoor recreational destination.
    Location Intelligence

    Current Use by Public Records

    Community Christian School High School Drive in circus live Arcade & Gaming Center

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Auto Repair Shop Hair Salon Nail Salon Pharmacy Auto Parts Store Kitchen & Bath Showroom Storage Facility

    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
    -98.076876
    Latitude
    32.79269

    Nearby Similar for Sale

    • New
      $499,000
      6,000 SF

      Warehouse on 3 Acres

      3-acre property with 6,000 sq ft warehouse and office.
      411 Lee Ave, Mineral Wells, TX 76066
      View Details
    • $345,000
      1,800 SF

      Historic Building Near Baker Hotel

      1930s Spanish Colonial Revival building suitable for office or retail.
      916 E Hubbard St, Mineral Wells, TX 76067
      View Details
    • New
      $270,000
      0.22 Acres

      Versatile Commercial Property in Mineral Wells

      Two-unit commercial property with income potential in Mineral Wells, TX.
      1500 S Oak Ave, Mineral Wells, TX 76067
      View Details
    • $650,000
      10.01 Acres

      Versatile Industrial Facility in Mineral Wells

      4200+ sqft industrial facility on Garrett Morris Parkway.
      1801 Garrett Morris Pkwy, Mineral Wells, TX 76067
      View Details
    • $380,000
      0.99 Acres

      Mineral Wells Industrial Shop For Sale

      2,875 SF industrial shop on just under an acre.
      2220 Old Millsap Hwy, Mineral Wells, TX 76067
      View Details
    • $950,000
      1.44 Acres

      Highway 180 Commercial Property

      Commercial property with highway frontage and redevelopment potential.
      3806 Highway 180 E, Mineral Wells, TX 76067
      View Details
    • $319,000
      0.05 Acres

      Mineral Wells Retail Opportunity

      Retail space in the heart of Mineral Wells, Texas.
      114 SE 1St St, Mineral Wells, TX 76067
      View Details
    • $750,000
      0.03 Acres

      Historic Building in Mineral Wells

      Historic 3-story building in the heart of Mineral Wells.
      302 N Oak Ave, Mineral Wells, TX 76067
      View Details
    • $210,000
      2,032 SF

      Mineral Wells Office Building For Sale

      Versatile office building in Mineral Wells, ideal for various businesses.
      711 SW 1St St, Mineral Wells, TX 76067
      View Details
    • $775,000
      3.17 Acres

      Commercial Property with Residential House

      Commercial property featuring metal buildings, a house, and multiple amenities.
      1201 Mh 379, Mineral Wells, TX 76067
      View Details
    • $650,000
      1.58 Acres

      Mineral Wells Industrial Property For Sale

      Warehouse/industrial property with concrete parking, suitable for various businesses.
      598 Grant Rd, Mineral Wells, TX 76067
      View Details
    • $147,700
      0.66 Acres

      Mineral Wells Commercial Opportunity

      Commercial property in a growing community, ideal for retail/office.
      2006 SE 6Th Ave, Mineral Wells, TX 76067
      View Details

    FAQs

    What type of property is this?
    School - Two connected buildings on 5 acres, ideal for redevelopment.
    Where is this school located?
    The property is located at 2501 Garrett Morris Pkwy Mineral Wells, TX.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: - Over 12,000 sf of space in two connected buildings; - Over 5 fenced acres with frontage access to two FM Roads; - Prime location with high visibility and quick access to Mineral Wells Regional Airport
    (940) 452-7915
    Request Owner's contact information
    2501 Garrett Morris Pkwy Mineral Wells, TX 76067
    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.
    2501 Garrett Morris Pkwy
    Mineral Wells, TX 76067
    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
    2501 Garrett Morris Pkwy Mineral Wells, TX 76067
    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

    We can help!
    Listing Contact
    Christy Dorr
    Real Estate License ID: 0669027
    (940) 452-7915
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!