Building Details

Building Size 13,224 SF

Year Built 2000

Buildings 1

Stories 1

Units 1

Tenancy Multi

Listing Agency: Hirschi Realtors Show Phone

Listed By: Joseph Brannon · License #0527918 Show Phone

Source: Cogburnrealestate

Added: Oct 22 Changed: Oct 23 Last Checked: Oct 23 at 5:50PM

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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 Hirschi Realtors

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Investment Insights

Based on property information with market context.

Built in 2000, this professional office building contains 13,224 square feet across three suites on 1.2749 acres. Two suites are leased: Texas Railroad Commission occupies 4,385 square feet, and North Texas Arthritis & Rheumatology occupies 4,057 square feet. The remaining 4,674-square-foot suite is vacant and has fresh paint and new laminate flooring. The metal roof was replaced in April 2023, and the landlord maintains the HVAC system.

The property is at 5800 Kell Boulevard in Wichita Falls, Texas, with highway frontage. Commercial zoning supports its office use. The combination of occupied suites and a finished vacant suite presents both leased and available office space within one building.

Key Highlights

• Three office suites totaling 13,224 square feet on 1.2749 acres
• Texas Railroad Commission occupies 4,385 square feet
• North Texas Arthritis & Rheumatology leases 4,057 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$162,457

Cap Rate

8.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,249,140 $3.2M

Cap Rate 7%

$2,320,814 $2.3M

Cap Rate 9%

$1,805,078 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,224 SF

Gross rent

$277.7K $21.00/SF

− Vacancy

−$61.1K −$4.62/SF

EGI

$216.6K $16.38/SF

− OpEx

−$54.2K −$4.10/SF

NOI

$162.5K $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 Rate 5%

$3,249,140

Cap Rate 7%

$2,320,814

Cap Rate 9%

$1,805,078

Alternative Uses

Best Use

Office B

$2.32M

$2.03M – $2.71M (±1% cap)

NOI $162,457 @ 7.0% cap · market cap 8.16%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$15.78M

$13.81M – $18.41M (±1% cap)

NOI $1,104,740 @ 7.0% cap · market cap 55.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Texas Retina Associates Ophthalmologist Railroad Commission of Texas State Government Office Vanya Wagler, DO Physician Dr. Wayne A. Solley, ... Ophthalmologist Spencer William B ... Ophthalmologist

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Big Box & Wholesale Store Auto Repair Shop Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Office units

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

147

Businesses Nearby

Explore this area Business Placement

Demographics for 76310, TX

20,204

Population

8,450

Households

2.4

Avg Household Size

39

Median Age

35%

College-Educated

95%

High-School Grad

170.3 sq mi

ZIP Area

119

Density / Sq Mi

$83,610

Median Household Income

$46,428

Median Earnings

$1,005

Median Rent

$201,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Commercial zoning and a mix of leased and vacant suites provide flexibility for an office occupant or investor.

Where is this office building located?

The property is located at 5800 Kell Boulevard Wichita Falls, TX.

What is the asking price?

The asking price for this property is $1,990,000.

What are key features of this property?

This property features: Three office suites totaling 13,224 square feet on 1.2749 acres; Texas Railroad Commission occupies 4,385 square feet; North Texas Arthritis & Rheumatology leases 4,057 square feet