Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1601 9Th St Wichita Falls, TX 76301

    Sponsored
    For Sale
    $2,079,000

    Prime Medical Office Space, Excellent Investment

    Property size:
    10,805 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 10,805 square foot office building presents a compelling investment opportunity in Wichita Falls, Texas' thriving medical district. Located at 1601 9th Street, 76301, this single-story property sits on a 1.102-acre lot and offers a flexible layout ideal for various medical or commercial uses. Built in 1982 by Erdman, renowned healthcare facility specialists, the building features non-load bearing walls, allowing for easy interior reconfiguration to meet specific needs. The property boasts numerous professional offices, exam rooms, storage rooms, and a break room with a kitchen. Two front entrances, each with its own reception area, offer the potential for a third entrance. Ample covered staff parking with four private entrances ensures convenience and privacy. Its proximity to United Regional Hospital is a significant advantage. The asking price is $2,079,000, translating to $192.41 per square foot. This property is an exceptional opportunity for investors seeking a strong return in a high-demand location. The building's versatile design and prime location make it suitable for a wide range of medical and commercial tenants. The ample parking and convenient access further enhance its appeal. This is a rare chance to acquire a well-maintained, established property in a rapidly growing area.

    Property Features for 1601 9Th St

    General Information

    Property type
    Medical offices
    Square Feet
    10,805 SF

    Building Details

    Stories
    1

    We can help!

    Listing Contact
    Ashton Gustafson
    Ashton Gustafson

    Learn more

    Property Insight Report

    HighLights

    • 10,805 SF office building on a 1.102‑acre lot in Wichita Falls, TX medical district.
    • Single‑story building at 1601 9th Street, 76301, built in 1982 by Erdman.
    • Flexible layout with numerous offices, exam rooms, and storage; ideal for medical or commercial use.
    • Features non‑load‑bearing walls, two reception areas, and ample covered parking with four private entrances.
    • $2,079,000 asking price ($192.41/SF), near United Regional Hospital.
    Property Profile Location Intelligence

    Current Use by Public Records

    Portmann Specialty Rehab Physical Therapy Clinic Helen Farabee Centers ... Mental Health Service Dr. Gradie E ... Obstetrician-Gynecologist Bannon Ryan MD Obstetrician-Gynecologist Hansen Kimberly A Doctor

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing 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
    -98.5022904
    Latitude
    33.9043411

    Nearby Similar for Sale

    • $349,000
      1.29 Acres

      Wichita Falls Church and Daycare

      Church and former daycare facility in Wichita Falls, Texas.
      4403 Phillips Dr, Wichita Falls, TX 76308
      View Details
    • $209,900
      0.15 Acres

      Renovated Commercial Building in Wichita

      Versatile commercial space suitable for retail, office, or creative uses.
      2710 Grant St, Wichita Falls, TX 76309
      View Details
    • $672,888
      73.14 Acres

      Wichita Falls Ranch with Horse Facilities

      73.14-acre ranch with horse facilities in Wichita Falls, TX.
      2206 Turtle Creek Rd, Wichita Falls, TX 76309
      View Details
    • $590,000
      1.56 Acres

      Wichita Falls Commercial Property

      7,200 sqft building on 1.56 acres, ideal for various uses.
      1522 Weeks St, Wichita Falls, TX 76302
      View Details
    • $395,000
      16,896 SF

      Wichita Falls Office For Sale

      Office property in Wichita Falls, TX with ample space.
      1509 Bluff St, Wichita Falls, TX 76309
      View Details
    • $350,000
      0.69 Acres

      Wichita Falls Financial Services Property

      Professional office space ideal for financial institution with existing infrastructure.
      2618 Old Iowa Park Rd, Wichita Falls, TX 76306
      View Details
    • $350,000
      4,800 SF

      Wichita Falls Office Building

      Professional office space with financial institution amenities and furnishings included.
      2618 Iowa Park Rd, Wichita Falls, TX 76306
      View Details
    • $239,900
      0.09 Acres

      Downtown Wichita Falls Mixed-Use Building

      Charming 1930s building with income potential in growing downtown area.
      222 N Mason St, Wichita Falls, TX 76230
      View Details
    • $199,900
      3,050 SF

      Wichita Falls Commercial/Retail Space

      Commercial/retail space with flexible layout in Wichita Falls, Texas.
      1104 11Th St, Wichita Falls, TX 76309
      View Details
    • $425,000
      7,339 SF

      Wichita Falls Chapel For Sale

      Country chapel with kitchen, classrooms, and ample parking.
      5808 Northwest Fwy, Wichita Falls, TX 76305
      View Details
    • $349,000
      11,231 SF

      Wichita Falls Church and Daycare

      Church with additional daycare building and ample parking.
      4403 Phillips Dr, Wichita Falls, TX 76308
      View Details
    • $129,000
      1,866 SF

      Move-In Ready Wichita Falls Office

      Commercial space ready for immediate office or business use.
      2410 9Th St, Wichita Falls, TX 76308
      View Details

    FAQs

    What type of property is this?
    Medical office - Prime Medical Office Space, Excellent Investment
    Where is this medical office located?
    The property is located at 1601 9Th St Wichita Falls, TX.
    What is the asking price?
    The asking price for this property is $2,079,000.
    What are key features of this property?
    This property features: 10,805 SF office building on a 1.102-acre lot in Wichita Falls, TX medical district.; Single-story building at 1601 9th Street, 76301, built in 1982 by Erdman.; Flexible layout with numerous offices, exam rooms, and storage; ideal for medical or commercial use.
    Request Owner's contact information
    1601 9Th St Wichita Falls, TX 76301
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1601 9Th St
    Wichita Falls, TX 76301
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1601 9Th St Wichita Falls, TX 76301
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ashton Gustafson
    Ashton Gustafson
    Real Estate License ID: TX 540858
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.