Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Industrial Warehouse and Distribution Facility Title is generated by Realmo AI

    1801 Garrett Morris Parkway, Mineral Wells, TX 76067

    View on Map
    Claim this Listing
    For Sale
    $650,000

    COMMERCIAL - Mineral Wells, TX

    Property size:
    4,200 SF
    Lot size:
    10.01 Acres
    Price / SF:
    $154/SF
    Added:
    Jan 8, 2026
    Days on Market:
    148
    Last Refresh:
    Jun 5 at 4:06 am

    Property Features for 1801 Garrett Morris Parkway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Gated, Carport
    Standard status
    Active
    APN
    5407
    Lot size
    10.01 Acres

    Taxes and HOA fees

    Tax Description
    ACRES: 9.013 AB 702 TR 46B T&P RY CO#15 G#107
    Tax Annual Amount
    4054

    Utilities

    Sewer type
    Septic Tank
    Water source
    Public

    Building Details

    Year built
    1986
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Concrete
    Building materials
    MetalSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Marty Logan
    Marty Logan

    Listing agent Marty Logan License #0587020

    Listing office SOURCE 1 REAL ESTATE - Mineral Wells Mineral Wells, TX

    Listing date Jan 8, 2026

    MLS# 21138866

    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

    • 4200+ SF commercial building built in 1986
    • Located on Garrett Morris Parkway (FM 1821) near the intersections of US 180 and MH370
    • Close to Walmart Supercenter and Tractor Supply Company
    • Near Mineral Wells High School
    • Metal siding exterior with metal roof; concrete flooring
    • Parking includes gated area and carport; utilities include public water and septic tank sewer

    Overview

    Industrial warehouse/distribution facility built in 1986 offering high-capacity space totaling 4,200+ square feet. The property sits on a 10.013-acre lot and is described as a versatile structure suited to uses such as a regional distribution center or a specialized industrial workshop. With its established configuration and substantial site footprint, it also presents an opportunity for adaptive reuse or modernization to align with evolving industrial needs.

    Located along Garrett Morris Parkway (FM 1821) in Mineral Wells, the facility benefits from prominent visibility near the intersections of US 180 and MH370. The area is described as a strong retail and industrial mix, with proximity to a Walmart Supercenter, Tractor Supply Company, and other national retailers. It is also noted to be near Mineral Wells High School, with easy access to US 281 via MH379 and connectivity toward Weatherford and the broader DFW Metroplex.

    This property may fit buyers or operators looking for a regional logistics hub, a contractor-oriented industrial workshop, or a redevelopment candidate in an active commercial corridor. Its location near major roadway access and established surrounding retail is positioned to support a range of practical industrial and community-facing uses. Buyer to independently verify all information.
    Property Profile 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
    -98.0771183
    Latitude
    32.7950412

    Nearby Similar for Sale

    • $550,000
      4,500 SF

      Automotive Repair Shop with Roll-Up Doors

      Turnkey RV and vehicle repair facility with multiple roll-up doors and secure rear parking.
      2815 S Highway 281, Mineral Wells, TX 76067
      View Details
    • $249,900
      2,868 SF

      Retail Kitchen Space with Basement

      Flexible retail setting with ample parking, a ready-to-customize kitchen, and a large basement for storage or expansion.
      1311 Highway 180 W, Mineral Wells, TX 76067
      View Details
    • $899,000

      Two-Building Automotive Property

      Automotive repair front building plus metal storage rear building, positioned for strong visibility and redevelopment flexibility.
      3806 E HWY 180, Mineral Wells, TX 76067
      View Details
    • $1,200,000

      High-Traffic Highway Frontage Development Site

      Prime development opportunity with high-traffic visibility on Hwy 180 and flexibility to divide for future phases.
      2515 E Hubbard Street, Mineral Wells, TX 76067
      View Details
    • $650,000

      Industrial Distribution Warehouse

      A concrete-built distribution warehouse with explosion-proof electrical, secured yard, and on-site paint booth for flexible industrial uses.
      598 Grant Road, Mineral Wells, TX 76067
      View Details
    • $915,000
      2,024 SF

      Light Industrial Flex Property

      Dual road frontage and multiple improvements support flexible light industrial, storage, and service operations with on-site living space.
      2602 Fm 1195, Mineral Wells, TX 76067
      View Details
    • $499,000

      Warehouse with Large Bay Doors

      Open industrial layout with high ceilings and drive-through access supports a wide range of specialty and storage uses.
      411 Lee, Mineral Wells, TX 76066
      View Details
    • $1,683,200

      Drive-Through Restaurant Property

      Restaurant-ready building with a fully equipped kitchen, spacious dining, ample parking, and a convenient drive-through lane.
      215 27th Avenue, Mineral Wells, TX 76067
      View Details
    • $370,000

      Industrial Shop with Dual Roll-Up Doors

      Industrial shop with office, flex/storage space, and customer parking, with dual-side roll-up access for equipment and service use.
      2220 Old Millsap Highway, Mineral Wells, TX 76067
      View Details
    • $279,000

      Office Building with Open Showroom

      A well-equipped office layout with HVAC upgrades and covered parking, offering flexibility for expanding businesses.
      203 SW 7th Avenue, Mineral Wells, TX 76067
      View Details
    • $147,700

      Versatile Commercial Building Opportunity

      Solid-condition commercial building with flexible retail or office potential and easy access in a growing community.
      2006 SE 6th Avenue, Mineral Wells, TX 76067
      View Details
    • $299,999

      Historic Building for Office Conversion

      Built in 1930, this Spanish Colonial Revival building offers distinctive interiors and high-visibility placement on US Hwy 180.
      916 E Hubbard Street, Mineral Wells, TX 76067
      View Details

    FAQs

    What type of property is this?
    Distribution center - Industrial warehouse built in 1986 with high-visibility frontage along a major commercial corridor near national retail.
    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: 4200+ SF commercial building built in 1986; Located on Garrett Morris Parkway (FM 1821) near the intersections of US 180 and MH370; Close to Walmart Supercenter and Tractor Supply Company
    (940) 325-9144
    We can help!
    Listing Contact
    Marty Logan
    Marty Logan
    Real Estate License ID: 0587020
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1801 Garrett Morris Parkway, Mineral Wells, TX 76067
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!