NNN Restaurant Property with
For Sale
Contact for pricing
2210 SOUTHWEST PKWY, Wichita Falls, TX 76308
Restaurant building subject to a full NNN lease with CPI increases and renewal options.
Property Size5,820 SF
Lot Size1.09 Acres
Price / SF$317.53
Days on Market76
Property Features for 2210 SOUTHWEST PKWY
General Information
Standard status
Active
Size
5,820 SF
Class
B
Lot size
1.09 Acres
Property subtype
Retail
Zoning
GC
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$132,480
Additional Details
Cap Rate
7.16%
Patio
Yes
Building Details
Year Built
1998
Year Renovated
2018
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Domain Real Estate Services Inc
Listed By:
Rodd Womble · License #TX 0290048
(940) 733-2279
Source:
Crexi
Added: Jun 19
Changed: Sep 2
Last Checked: Sep 1 at 5:21PM
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 Domain Real Estate Services Inc
Investment Insights
Based on property information with market context.
The property is a 5,820-square-foot restaurant building constructed in 1998, with approximately 1,794 square feet of dining patio area. The improvements occupy approximately 47,397 square feet of land and are subject to GC zoning. The operating restaurant business is excluded from the sale; the transaction covers the real estate only.
A full NNN lease is in place with annual CPI increases and two five-year renewal options. The property is located at 2210 Southwest Parkway in Wichita Falls, Texas. Showings and walk-throughs are not permitted, and the restaurant’s operations are not to be interrupted.
A full NNN lease is in place with annual CPI increases and two five-year renewal options. The property is located at 2210 Southwest Parkway in Wichita Falls, Texas. Showings and walk-throughs are not permitted, and the restaurant’s operations are not to be interrupted.
Key Highlights
- 5,820‑square‑foot restaurant building constructed in 1998
- Approximately 1,794 square feet of dining patio area
- Approximately 47,397 square feet of land
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
$81,922
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
4.43%
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%
$1,638,440
$1.6M
Cap Rate 7%
$1,170,314
$1.2M
Cap Rate 9%
$910,244
$910.2K
Market Conditions
NOI Build-Up for 5,820 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
$118.7K $20.40/SF
− Vacancy
−$9.5K −$1.63/SF
EGI
$109.2K $18.77/SF
− OpEx
−$27.3K −$4.69/SF
NOI
$81.9K $14.08/SF
Area
Wichita Falls, TX
Vacancy
8.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$1,638,440
Cap Rate 7%
$1,170,314
Cap Rate 9%
$910,244
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.02M – $1.37M
NOI $81,922 @ 7.0% cap · market cap 4.43%
Second Best
Retail
$939.7K
$822.2K – $1.10M
NOI $65,779 @ 7.0% cap · market cap 3.56%
Theoretical Best
Warehouse
$6.95M
$6.08M – $8.10M
NOI $486,206 @ 7.0% cap · market cap 26.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
75k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Home Improvements & Furnishings 14%
Shops & Services 11%
Hotels & Casinos 3%
Taco Casa
Dining
22,133 visits/mo
0.2 miles
SONIC Drive In
Dining
12,772 visits/mo
0.2 miles
HTeaO
Dining
12,372 visits/mo
0.1 miles
Tractor Supply Co.
Home Improvements & Furnishings
10,787 visits/mo
0.4 miles
Stripes
Shops & Services
7,926 visits/mo
0.2 miles
Demographics for 76308, TX
20,305
Population
9,601
Households
2.1
Avg Household Size
35
Median Age
35%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
2,603
Density / Sq Mi
$70,789
Median Household Income
$40,433
Median Earnings
$1,083
Median Rent
$198,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Restaurant building subject to a full NNN lease with CPI increases and renewal options.
Where is this nnn property located?
The property is located at 2210 SOUTHWEST PKWY Wichita Falls, TX.
What is the asking price?
The asking price for this property is $1,848,000.
What are key features of this property?
This property features: 5,820‑square‑foot restaurant building constructed in 1998; Approximately 1,794 square feet of dining patio area; Approximately 47,397 square feet of land
