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    1801 Garrett Morris Parkway Mineral Wells, TX 76067

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    For Sale
    $650,000

    4200+ sqft facility in high-traffic Mineral Wells location.

    Type:Commercial
    Property size:
    4,640 SF
    Price / SF:
    $140/SF
    Added:
    Apr 25, 2026
    Days on Market:
    3
    Last Refresh:
    Apr 25 at 9:41 am

    Property Features for 1801 Garrett Morris Parkway

    General Information

    Standard status
    Active
    Size
    4,640 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1986

    We can help!

    Listing Contact
    Marty Logan

    Listing agent Marty Logan

    Listing office SOURCE 1 REAL ESTATE

    Listing date Apr 25, 2026

    Source Signaturere

    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

    Overview

    Mineral Wells Commercial Investment Opportunity

    Located at 1801 Garrett Morris Parkway in Mineral Wells, Texas, this commercial property offers a substantial facility of over 4200 square feet. Constructed in 1986, the property is strategically positioned on a key commercial thoroughfare, Garrett Morris Parkway (FM 1821), ensuring high visibility near the intersections of US 180 and MH370. The location benefits from proximity to a Walmart Supercenter, Tractor Supply Company, and other national retailers, as well as Mineral Wells High School. The versatile structure is suited for various applications, including use as a regional distribution center or a specialized industrial workshop. The property's location just off US-180, with easy access to US 281 via MH379, provides a direct link to Weatherford and the broader DFW Metroplex, making it an excellent hub for regional logistics. The property is located in a rapidly growing area near the airport, Palo Pinto General Hospital, and Lake Mineral Wells State Park. The North Texas industrial and retail sectors show continued resilience into 2026, positioning this property well for adaptive reuse or modernization.
    Location Intelligence

    Current Use by Public Records

    Hitex Exploration LP Construction Company

    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
    -98.08279
    Latitude
    32.809208

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    FAQs

    What type of property is this?
    Distribution center - 4200+ sqft facility in high-traffic Mineral Wells location.
    Where is this distribution center located?
    The property is located at 1801 Garrett Morris Parkway Mineral Wells, TX.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: High‑traffic frontage on Garrett Morris Parkway (FM 1821) near US 180 and MH370, ensuring exceptional visibility.; Strategic location in a high‑energy commercial environment near Walmart Supercenter and Tractor Supply Company.; Substantial 4200+ square‑foot facility suitable for various applications.
    We can help!
    Listing Contact
    Marty Logan
    Learn More
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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.

    More about this property
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