NNN Restaurant
For Sale
$1,700,000
2210 SOUTHWEST PARKWAY, Wichita Falls, TX 76308
COMMERCIAL - Wichita Falls, TX
Property Size5,820 SF
Lot Size1.09 Acres
Price / SF$292.10
Days on Market49
Property Features for 2210 SOUTHWEST PARKWAY
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
10W WFalls Southwest
Standard status
Active
Lot size
1.09 Acres
Listing Agency:
DOMAIN REAL ESTATE SERVICES INC
(940) 767-5060
Listed By:
RODD WOMBLE · License #0290048
(940) 733-2279
Added: Jun 19
Changed: Aug 6
Last Checked: Aug 6 at 2:06PM
MLS# 183821
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.
Investment Insights
Based on property information with market context.
The offering consists of the real estate associated with the El Tapatio restaurant at 2210 Southwest Parkway in Wichita Falls. The property includes approximately 5,820 square feet of building area, including an approximately 1,794-square-foot dining patio, on approximately 47,397 square feet of land.
The restaurant business is not part of the transaction. A full NNN lease is in place with annual CPI increases, and the property reflects a 7.75% cap rate. The offering is for the property only; showings and walkthroughs are not permitted, and restaurant operations should not be interrupted.
The restaurant business is not part of the transaction. A full NNN lease is in place with annual CPI increases, and the property reflects a 7.75% cap rate. The offering is for the property only; showings and walkthroughs are not permitted, and restaurant operations should not be interrupted.
Key Highlights
- Approximately 5,820 square feet of building area
- Approximately 1,794‑square‑foot dining patio
- 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
4.82%
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 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$6.95M
$6.08M – $8.10M
NOI $486,206 @ 7.0% cap · market cap 28.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
392k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 31%
Shops & Services 25%
Superstores 21%
Groceries 17%
Target
Superstores
81,324 visits/mo
0.5 miles
Hobby Lobby
Shops & Services
46,763 visits/mo
0.3 miles
United Supermarkets
Groceries
42,969 visits/mo
0.1 miles
Whataburger
Dining
27,362 visits/mo
0.1 miles
Spec's
Groceries
24,954 visits/mo
0.4 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 - Real estate sale excludes the operating business and includes a full NNN lease.
Where is this nnn property located?
The property is located at 2210 SOUTHWEST PARKWAY Wichita Falls, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Approximately 5,820 square feet of building area; Approximately 1,794‑square‑foot dining patio; Approximately 47,397 square feet of land
