Office Building with Commercial
For Sale
$950,000
3001 CARTER AVENUE, Wichita Falls, TX 76308
Large commercial building with flexible interior space, a fenced outdoor area, covered shade structures, and substantial parking.
Property Size7,354 SF
Lot Size1.65 Acres
Price / SF$135.71
Days on Market14
Property Features for 3001 CARTER AVENUE
General Information
Standard status
Active
Size
7,354 SF
Lot size
1.65 Acres
Property subtype
Office Building
Additional Details
Road Access
Yes
Amenities
commercial kitchen
fenced area with metal awnings
Building Details
Building Size
7,354 SF
Listing Agency:
BISHOP REALTOR GROUP
(940) 217-4662
Listed By:
MAGGIE BRUMLEY
(940) 217-4662
Source:
Bishoprealtors
Added: Aug 7
Changed: Aug 15
Last Checked: Aug 20 at 11:23AM
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 BISHOP REALTOR GROUP
Investment Insights
Based on property information with market context.
This office building contains over 7,000 square feet on approximately 1.65 acres. The property includes a full commercial kitchen, a dedicated fenced area with metal shade awnings, and a sizable parking lot. Its prior uses include a daycare, bank, and multiple office spaces, providing a range of established commercial configurations.
Located at 3001 Carter Avenue in Wichita Falls, the property has a drive extending to Midwestern Parkway. It sits across from Barwise Junior High and Sikes Senter, with Midwestern State University within walking distance. The combination of building scale, site area, parking, and multiple access points supports a variety of office-oriented commercial applications.
Located at 3001 Carter Avenue in Wichita Falls, the property has a drive extending to Midwestern Parkway. It sits across from Barwise Junior High and Sikes Senter, with Midwestern State University within walking distance. The combination of building scale, site area, parking, and multiple access points supports a variety of office-oriented commercial applications.
Key Highlights
- Over 7,000 square feet of commercial building space
- Approximately 1.65 acres
- Full commercial kitchen included
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
$85,995
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
9.05%
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%
$1,719,900
$1.7M
Cap Rate 7%
$1,228,500
$1.2M
Cap Rate 9%
$955,500
$955.5K
Market Conditions
NOI Build-Up for 7,000 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
$147.0K $21.00/SF
− Vacancy
−$32.3K −$4.62/SF
EGI
$114.7K $16.38/SF
− OpEx
−$28.7K −$4.10/SF
NOI
$86.0K $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%
$1,719,900
Cap Rate 7%
$1,228,500
Cap Rate 9%
$955,500
Alternative Uses
Best Use
Office B
$1.23M
$1.07M – $1.43M
NOI $85,995 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.35M
$7.31M – $9.75M
NOI $584,784 @ 7.0% cap · market cap 61.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,190
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Large commercial building with flexible interior space, a fenced outdoor area, covered shade structures, and substantial parking.
Where is this office building located?
The property is located at 3001 CARTER AVENUE Wichita Falls, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Over 7,000 square feet of commercial building space; Approximately 1.65 acres; Full commercial kitchen included
