Freestanding Retail
For Sale
$3,550,000
2515 Montgomery East Pl, Wichita Falls, TX 76308
Standalone retail property with a secured rear yard and GC zoning near Midwestern State University.
Property Size21,375 SF
Lot Size1.28 Acres
Price / SF$166.08
Days on Market92
Property Features for 2515 Montgomery East Pl
General Information
Standard status
Active
Size
21,375 SF
Class
Unclassified
Lot size
1.28 Acres
Property subtype
retail
Zoning
GC
Building Details
Buildings
1
Listing Agency:
Dallas
Listed By:
Michael Wheat
(214) 684-5956
Source:
Property.jll
Added: Jul 17
Changed: Oct 15
Last Checked: Oct 16 at 5:50AM
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 Dallas
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Investment Insights
Based on property information with market context.
This freestanding retail building contains approximately 21,375 square feet on approximately 1.28 acres. The property includes a gated rear yard of approximately 7,900 square feet, adding secured outdoor area to the retail improvements. GC zoning supports the property’s commercial retail classification.
The site is located near Midwestern State University and within Wichita Falls’ established retail area. Its standalone building format, land area, and enclosed rear yard provide a defined commercial property profile for retail-oriented use.
The site is located near Midwestern State University and within Wichita Falls’ established retail area. Its standalone building format, land area, and enclosed rear yard provide a defined commercial property profile for retail-oriented use.
Key Highlights
- Approximately 21,375 SF freestanding retail building
- Approximately 1.28 acres
- Approximately 7,900 SF gated rear yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$241,585
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,831,700
$4.8M
Cap Rate 7%
$3,451,214
$3.5M
Cap Rate 9%
$2,684,278
$2.7M
Market Conditions
NOI Build-Up for 21,375 SF
Gross rent
$384.8K $18.00/SF
− Vacancy
−$39.6K −$1.85/SF
EGI
$345.1K $16.15/SF
− OpEx
−$103.5K −$4.84/SF
NOI
$241.6K $11.30/SF
Area
Wichita Falls, TX
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,831,700
Cap Rate 7%
$3,451,214
Cap Rate 9%
$2,684,278
Alternative Uses
Best Use
Retail
$3.45M
$3.02M – $4.03M
NOI $241,585 @ 7.0% cap · market cap 6.81%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$25.51M
$22.32M – $29.76M
NOI $1,785,679 @ 7.0% cap · market cap 50.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
449k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 36%
Superstores 18%
Shops & Services 16%
Groceries 15%
Target
Superstores
81,324 visits/mo
0.1 miles
United Supermarkets
Groceries
42,969 visits/mo
0.3 miles
On The Border Mexican Grill & Cantina
Dining
32,424 visits/mo
0.5 miles
Whataburger
Dining
27,362 visits/mo
0.4 miles
Best Buy
Electronics
26,816 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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- THE BASKETCASE AND FLOWER SHOP — 4708 K Mart Dr suite d, Wichita Falls, TX 76308
- Falls Town Flowers — 2949 Southwest Pkwy Ste A, Wichita Falls, TX 76308
- Lorraine's Floral Boutique — 2414 brentwood dr, wichita falls, tx 76308
- Ria's — 2944 Blankenship St, Wichita Falls, TX 76308
Frequently Asked Questions
What type of property is this?
Storefront property - Standalone retail property with a secured rear yard and GC zoning near Midwestern State University.
Where is this storefront property located?
The property is located at 2515 Montgomery East Pl Wichita Falls, TX.
What is the asking price?
The asking price for this property is $3,550,000.
What are key features of this property?
This property features: Approximately 21,375 SF freestanding retail building; Approximately 1.28 acres; Approximately 7,900 SF gated rear yard
