Updated Corner Office
For Sale
$224,000
2511 BROOK AVENUE, Wichita Falls, TX 76301
Updated professional office setting with lobby, conference room, paved parking, signage, and sprinkler system.
Property Size1,530 SF
Days on Market64
Property Features for 2511 BROOK AVENUE
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Office Building
Additional Details
Sprinkler System
Yes
Amenities
paved parking
signage
visual
sprinkler system
mature trees
sidewalks
large lobby
conference room
oversized bathroom
Building Details
Building Size
1,530 SF
Listing Agency:
DOMAIN REAL ESTATE SERVICES INC
(940) 782-8072
Listed By:
LaDONNA SMITH
(940) 782-8072
Source:
Bishoprealtors
Added: Jun 21
Changed: Aug 21
Last Checked: Aug 23 at 7:40AM
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.
This office building at 2511 Brook Avenue offers a practical layout for professional use, with a spacious reception lobby, two private offices, an oversized bathroom, and a conference room. Interior updates and a Class 4 roof add to the property’s physical improvements, while negotiable office furnishings may support a smoother transition for an incoming occupant.
The property occupies a corner lot with paved parking, dedicated signage, sidewalks, mature trees, and an installed sprinkler system. Its configuration and presentation support office uses including accounting, financial services, counseling, real estate, and law, as identified for the property.
The property occupies a corner lot with paved parking, dedicated signage, sidewalks, mature trees, and an installed sprinkler system. Its configuration and presentation support office uses including accounting, financial services, counseling, real estate, and law, as identified for the property.
Key Highlights
- Corner‑lot office building at 2511 Brook Avenue
- Lobby, two offices, oversized bathroom, and conference room
- Paved parking with on‑site signage and sidewalks
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
$18,796
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
8.39%
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%
$375,920
$375.9K
Cap Rate 7%
$268,514
$268.5K
Cap Rate 9%
$208,844
$208.8K
Market Conditions
NOI Build-Up for 1,530 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
$32.1K $21.00/SF
− Vacancy
−$7.1K −$4.62/SF
EGI
$25.1K $16.38/SF
− OpEx
−$6.3K −$4.10/SF
NOI
$18.8K $12.29/SF
Area
Wichita Falls, TX
Vacancy
22.00%
Lease Rate
$21.00 /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%
$375,920
Cap Rate 7%
$268,514
Cap Rate 9%
$208,844
Alternative Uses
Best Use
Office B
$268.5K
$235.0K – $313.3K
NOI $18,796 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.83M
$1.60M – $2.13M
NOI $127,817 @ 7.0% cap · market cap 57.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 76301, TX
15,320
Population
7,762
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
80%
High-School Grad
11.4 sq mi
ZIP Area
1,344
Density / Sq Mi
$41,828
Median Household Income
$29,532
Median Earnings
$790
Median Rent
$71,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated professional office setting with lobby, conference room, paved parking, signage, and sprinkler system.
Where is this office building located?
The property is located at 2511 BROOK AVENUE Wichita Falls, TX.
What is the asking price?
The asking price for this property is $224,000.
What are key features of this property?
This property features: Corner‑lot office building at 2511 Brook Avenue; Lobby, two offices, oversized bathroom, and conference room; Paved parking with on‑site signage and sidewalks
