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    Vacant Light Industrial Building Title is generated by Realmo AI

    1810 BURNETT STREET, Wichita Falls, TX 76302

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    Claim this Listing
    For Sale
    $100,000

    COMMERCIAL - Wichita Falls, TX

    Property size:
    100,350 SF
    Price / SF:
    $1.00/SF
    Added:
    Nov 14, 2025
    Days on Market:
    202
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 1810 BURNETT STREET

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    100,350 SF

    We can help!

    Listing Contact
    PEGGY BAGGETT

    Listing agent PEGGY BAGGETT License #0435798

    Listing office MILLER REALTOR GROUP 1610 MIDWESTERN PKWY, Wichita Falls, TX

    Listing date Nov 14, 2025

    MLS# 181140

    Copyright © 2026 Wichita Falls Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 8‑story vacant building next to the Attebury Grain Building
    • Former plans included an indoor gun range; City would not allow it
    • Building has been used as a painting school, including third‑floor wall use
    • Zoned Light Industrial
    • Potential uses mentioned include entertainment courts such as pickleball or archery, with part potentially used as a restaurant

    Overview

    This eight-story vacant building is available for sale and has been repurposed in the past for an educational use. The property was previously going to operate as an indoor gun range; however, the City would not allow that use. Earlier operation included use as a painting school, with walls on the third floor used for that purpose.

    The building is located at 1810 Burnett Street in Wichita Falls, TX, and sits next to the Attebury Grain building. Access is managed via a gate with keys provided in a lock box. The seller also notes to ignore the blue line around the building and that the yellow line represents the property.

    Zoned Light Industrial, the building may be considered for tenants or operators looking for a large-format, multi-level space to adapt. While the prior gun range concept was not permitted, the existing footprint and interior levels may support other entertainment-style uses, such as courts, and the seller also indicates that a portion could be suited for restaurant use. Interested parties should confirm feasibility for their specific intended use with the City and through applicable approvals.
    Property Profile Location Intelligence

    Current Use by Public Records

    Schools

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita Falls
    County
    Wichita
    State
    Texas
    Longitude
    -98.4902
    Latitude
    33.869

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    FAQs

    What type of property is this?
    School - Eight-story vacant building zoned Light Industrial, previously used for a painting school, with configuration suited for repurpose.
    Where is this school located?
    The property is located at 1810 BURNETT STREET Wichita Falls, TX.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: 8‑story vacant building next to the Attebury Grain Building; Former plans included an indoor gun range; City would not allow it; Building has been used as a painting school, including third‑floor wall use
    (940) 733-1879
    We can help!
    Listing Contact
    PEGGY BAGGETT
    Real Estate License ID: 0435798
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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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    1810 BURNETT STREET, Wichita Falls, TX 76302
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