High-Visibility Retail
For Sale
Contact for pricing
3500 KEMP BLVD, Wichita Falls, TX 76308
Retail building with approximately 2,472 square feet, situated on about 18,270 square feet of land on Kemp Blvd.
Property Size2,472 SF
Lot Size0.42 Acres
Price / SF$216.42
Days on Market148
Property Features for 3500 KEMP BLVD
General Information
Standard status
Active
Size
2,472 SF
Class
B
Lot size
0.42 Acres
Property subtype
Retail
Zoning
GC
Building Details
Year Built
1959
Year Renovated
2015
Units
1
Listing Agency:
Domain Real Estate Services Inc
Listed By:
Rodd Womble · License #TX 0290048
(940) 733-2279
Source:
Crexi
Added: Apr 13
Changed: Aug 28
Last Checked: Sep 6 at 9:04PM
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 Audio Source building offers approximately 2,472 square feet of retail space and is situated on approximately 18,270 square feet of land. The property is described as providing extremely high visibility along Kemp Blvd.
The sale is for the building and land only, and the existing business is continuing operations during the listing and is not part of the sale. The seller is marketing the location for national or regional chain use based on the stated visibility.
The property’s configuration supports a straightforward retail presence, with frontage called out as a key attribute for exposure on Kemp Blvd.
The sale is for the building and land only, and the existing business is continuing operations during the listing and is not part of the sale. The seller is marketing the location for national or regional chain use based on the stated visibility.
The property’s configuration supports a straightforward retail presence, with frontage called out as a key attribute for exposure on Kemp Blvd.
Key Highlights
- Audio Source building on Kemp Blvd with approximately 2,472 SF and approximately 18,270 SF of land
- Extremely high visibility frontage on Kemp Blvd
- Year built 1959
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
$27,939
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
5.22%
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%
$558,780
$558.8K
Cap Rate 7%
$399,129
$399.1K
Cap Rate 9%
$310,433
$310.4K
Market Conditions
NOI Build-Up for 2,472 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
$44.5K $18.00/SF
− Vacancy
−$4.6K −$1.85/SF
EGI
$39.9K $16.15/SF
− OpEx
−$12.0K −$4.84/SF
NOI
$27.9K $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 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%
$558,780
Cap Rate 7%
$399,129
Cap Rate 9%
$310,433
Alternative Uses
Best Use
Retail
$399.1K
$349.2K – $465.7K
NOI $27,939 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.95M
$2.58M – $3.44M
NOI $206,512 @ 7.0% cap · market cap 38.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
449k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 22%
Apparel 17%
Home Improvements & Furnishings 10%
Academy Sports + Outdoors
Apparel
65,814 visits/mo
0.4 miles
Five Below
Shops & Services
49,747 visits/mo
0.4 miles
Lowe's
Home Improvements & Furnishings
41,878 visits/mo
0.4 miles
McDonald's
Dining
36,701 visits/mo
0.3 miles
Olive Garden
Dining
29,983 visits/mo
0.5 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?
Retail space - Retail building with approximately 2,472 square feet, situated on about 18,270 square feet of land on Kemp Blvd.
Where is this retail space located?
The property is located at 3500 KEMP BLVD Wichita Falls, TX.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Audio Source building on Kemp Blvd with approximately 2,472 SF and approximately 18,270 SF of land; Extremely high visibility frontage on Kemp Blvd; Year built 1959
