Flex Building with
For Sale
$328,000
4501 SOUTHWEST PARKWAY, Wichita Falls, TX 76308
COMMERCIAL - Wichita Falls, TX
Property Size2,130 SF
Lot Size2.14 Acres
Price / SF$153.99
Days on Market147
Property Features for 4501 SOUTHWEST PARKWAY
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
10W WFalls Southwest
Standard status
Active
Size
2,130 SF
Lot size
2.14 Acres
Listing Agency:
DOMAIN REAL ESTATE SERVICES INC
(940) 767-5060
Listed By:
RODD WOMBLE · License #0290048
(940) 733-2279
Added: Mar 13
Changed: Aug 6
Last Checked: Aug 6 at 3:06PM
MLS# 182509
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.
This flex property includes a 2,130-square-foot building on a combined 2.14 acres. The interior is divided between approximately 1,480 square feet of office area and 650 square feet of warehouse space, supporting a mixed office and industrial configuration. The building was formerly used as an animal clinic. Four garage doors are located along the west side, with two currently operational for warehouse access. A concrete parking area serves the building, while fencing encloses the warehouse portion of the site.
The property is located at 4501 Southwest Parkway in Wichita Falls, Texas. Rear acreage includes a temporary roadway that connects to the Lake Wichita walk/bike trail and could be made permanent. The site also provides a combination of building space, outdoor land, parking, and secured storage area.
The property is located at 4501 Southwest Parkway in Wichita Falls, Texas. Rear acreage includes a temporary roadway that connects to the Lake Wichita walk/bike trail and could be made permanent. The site also provides a combination of building space, outdoor land, parking, and secured storage area.
Key Highlights
- 2,130‑square‑foot building on a combined 2.14 acres
- Approximately 1,480 ft of office area and 650 ft of warehouse area
- Four west‑side garage doors; two are operational for warehouse access
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
$26,167
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
7.98%
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%
$523,340
$523.3K
Cap Rate 7%
$373,814
$373.8K
Cap Rate 9%
$290,744
$290.7K
Market Conditions
NOI Build-Up for 2,130 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
$44.7K $21.00/SF
− Vacancy
−$9.8K −$4.62/SF
EGI
$34.9K $16.38/SF
− OpEx
−$8.7K −$4.10/SF
NOI
$26.2K $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%
$523,340
Cap Rate 7%
$373,814
Cap Rate 9%
$290,744
Alternative Uses
Best Use
Warehouse
$2.54M
$2.22M – $2.97M
NOI $177,941 @ 7.0% cap · market cap 54.25%
Second Best
Industrial
$2.29M
$2.00M – $2.67M
NOI $160,303 @ 7.0% cap · market cap 48.87%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
611
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - Office and warehouse areas create a flexible commercial layout with secured outdoor space and concrete parking.
Where is this flex space located?
The property is located at 4501 SOUTHWEST PARKWAY Wichita Falls, TX.
What is the asking price?
The asking price for this property is $328,000.
What are key features of this property?
This property features: 2,130‑square‑foot building on a combined 2.14 acres; Approximately 1,480 ft of office area and 650 ft of warehouse area; Four west‑side garage doors; two are operational for warehouse access
