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    3923 Kell Blvd Wichita Falls, TX 76308

    Sponsored
    For Lease
    $11 SF/Yr ($3,084 /Mo)

    3,365 SF Retail Space - High Traffic Area

    Lot size:
    3,365 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional 3,365-square-foot retail space is ideally situated in the vibrant Best Center/Big Lots Center in Wichita Falls, Texas, at 3923 Kell E Blvd, 76308. Currently vacant, this open retail space offers significant potential for a variety of businesses. The property is zoned GC and benefits from a prime location at the corner of Kell Fwy and McNiel Ave, providing excellent visibility and accessibility. The center boasts a shared parking lot with established national retailers including Big Lots, Conn's, Planet Fitness, and Harbor Freight Tools, ensuring high foot traffic and convenient customer parking. The space is perfect for a cell store or cash store, given its existing subtype. The lease terms include a base rent of $3,085 per month, plus approximately $885 per month in NNN expenses, totaling $3,940 per month. A free rent period is available, making this an attractive opportunity for immediate occupancy. This property presents a unique chance to establish a thriving business in a high-demand retail location with strong co-tenancy. The property's size and location make it an excellent investment opportunity for businesses seeking high visibility and convenient access for customers. Contact us today to learn more about this exceptional retail space.

    Property Features for 3923 Kell Blvd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,365 SF
    Total Rate
    3084.58

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    3,365 SF
    Rate per SF
    $11

    We can help!

    Listing Contact
    Rodd Womble
    Rodd Womble

    Learn more

    Property Insight Report

    HighLights

    • High‑visibility retail space (approx. 3,365 SF) in Best Center/Big Lots Center, at the hard corner of Kell Fwy and McNiel Ave, adjacent to Harbor Freight Tools.
    • Ample shared parking with strong co‑tenancy including Big Lots, Conn's, and Planet Fitness.
    • Monthly rent: $3,085 base rent + $885 NNN = $3,970 total.
    • Open floor plan ideal for various retail uses.
    • Free rent offered (details available upon request).
    Property Profile Location Intelligence

    Current Use by Public Records

    Harbor Freight Tools Hardware Store Outback Pools & Spas Swimming Pool Supply Store Big Lots Discount Store Bioguard Pool & Spa ... Swimming Pool Supply Store Reclaimed Wood Wichita ... Architectural Salvage Store

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wichita Falls
    County
    Wichita
    State
    Texas
    Longitude
    -98.547466009443
    Latitude
    33.877517647186

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    FAQs

    What type of property is this?
    Retail property - 3,365 SF Retail Space - High Traffic Area
    Where is this retail property located?
    The property is located at 3923 Kell Blvd Wichita Falls, TX.
    What is the lease rate?
    The lease rate is $11 SF/Yr.
    What are key features of this property?
    This property features: High-visibility retail space (approx. 3,365 SF) in Best Center/Big Lots Center, at the hard corner of Kell Fwy and McNiel Ave, adjacent to Harbor Freight Tools.; Ample shared parking with strong co-tenancy including Big Lots, Conn's, and Planet Fitness.; Monthly rent: $3,085 base rent + $885 NNN = $3,970 total.
    Request Owner's contact information
    3923 Kell Blvd Wichita Falls, TX 76308
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    Wichita Falls, TX 76308
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3923 Kell Blvd Wichita Falls, TX 76308
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    We can help!
    Listing Contact
    Rodd Womble
    Rodd Womble
    Real Estate License ID: TX
    Learn more
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