Strip Center with Available
New
For Sale
$4,000,000
8247 Rufe Snow Drive, Watauga, TX 76148
CommercialSale, Watauga, TX
Property Size10,233 SF
Lot Size1.44 Acres
Price / SF$390.89
Days on Market4
Property Features for 8247 Rufe Snow Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Parking features
Parking Lot
Subdivision
Stringer Add
Directions
Use GPS. From 183 headed west. Exit Iron Horse. Turn Right on Iron Horse. Turn left on Rufe Snow. Destination is on your left before Bursey Rd.
Standard status
Active
APN
41387260
Lot size
1.44 Acres
Taxes and HOA fees
Tax Description
STRINGER ADDN BLOCK 1 LOT 2R
Tax Annual Amount
50361
Legal Description
STRINGER ADDN BLOCK 1 LOT 2R
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2006
Floors in Building
1
Number of units
5
Flooring type
Combination, Concrete
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Dallas Midtown · Keller Williams Realty
(214) 526-4663
Listed By:
Bobby Wagner
(214) 526-4663
Added: Aug 26
Last Checked: Aug 29 at 1:06AM
MLS# 21369868
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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.
Gateway Center is a 10,233-square-foot strip retail property on 1.436 acres, completed in 2006. The five-suite layout is 80% occupied, with four suites leased to a dental office, restaurant, donut shop, and smoke shop. One suite remains available for lease-up or owner occupancy. The building features brick construction, a composition roof, concrete and combination flooring, central heating, central air, and ceiling fans.
The property is located at 8247 Rufe Snow Drive in Watauga, Texas, across from a David Weekly residential home development. On-site improvements include a parking lot, public water service, and public sewer. The retail center also includes monument signage along the Rufe Snow Drive corridor.
The property is located at 8247 Rufe Snow Drive in Watauga, Texas, across from a David Weekly residential home development. On-site improvements include a parking lot, public water service, and public sewer. The retail center also includes monument signage along the Rufe Snow Drive corridor.
Key Highlights
- 10,233 SF strip retail center on 1.436 acres
- 80% occupied with 4 of 5 suites leased
- One suite available for lease‑up or owner occupancy
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
$169,851
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
4.25%
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%
$3,397,020
$3.4M
Cap Rate 7%
$2,426,443
$2.4M
Cap Rate 9%
$1,887,233
$1.9M
Market Conditions
NOI Build-Up for 10,233 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
$255.4K $24.96/SF
− Vacancy
−$12.8K −$1.25/SF
EGI
$242.6K $23.71/SF
− OpEx
−$72.8K −$7.11/SF
NOI
$169.9K $16.60/SF
Area
Tarrant County, TX
Vacancy
5.00%
Lease Rate
$24.96 /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%
$3,397,020
Cap Rate 7%
$2,426,443
Cap Rate 9%
$1,887,233
Alternative Uses
Best Use
Retail
$2.43M
$2.12M – $2.83M
NOI $169,851 @ 7.0% cap · market cap 4.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $251,977 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
80%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
167k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 37%
Dining 25%
Home Improvements & Furnishings 23%
Shops & Services 15%
Lowe's
Home Improvements & Furnishings
34,328 visits/mo
0.4 miles
Kroger
Groceries
32,798 visits/mo
0.4 miles
Walmart Neighborhood Market
Groceries
29,098 visits/mo
0.1 miles
McDonald's
Dining
19,688 visits/mo
0.5 miles
Dollar Tree
Shops & Services
14,256 visits/mo
0.2 miles
Demographics for 76148, TX
23,587
Population
8,481
Households
2.8
Avg Household Size
37
Median Age
24%
College-Educated
89%
High-School Grad
4.7 sq mi
ZIP Area
5,019
Density / Sq Mi
$90,614
Median Household Income
$42,762
Median Earnings
$1,824
Median Rent
$227,600
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?
Strip mall - Multi-suite retail property with established occupancy, on-site parking, and public water and sewer service.
Where is this strip mall located?
The property is located at 8247 Rufe Snow Drive Watauga, TX.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 10,233 SF strip retail center on 1.436 acres; 80% occupied with 4 of 5 suites leased; One suite available for lease‑up or owner occupancy
