Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    608 Redwater Rd Wake Village, TX 75501
    Back to Search
    Property profile & analytics

    608 Redwater Rd Wake Village, TX 75501

    View on Map
    • Office properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 608 Redwater Rd

    Property type
    Office properties & Spaces
    Property subtype
    Office Units

    Description

    This exceptional commercial property, located at 608 & 610 Redwater Road in Wake Village, Texas (zip code 75501), offers two distinct office spaces ideal for various business needs. The property, situated conveniently just north of the town center, provides easy access and high visibility. One space, located at 608 Redwater Road, is a single studio suite encompassing approximately 1,000 square feet, available for $600 per month. This unit is perfect for a solo entrepreneur or small business requiring a compact, efficient workspace. The second space, at 610 Redwater Road, offers approximately 1,500 square feet of versatile office space. This larger unit features multiple private offices, providing ample room for a team, along with an open workspace area, promoting collaboration and flexibility. The monthly lease rate for this space is $1,750. Both spaces are part of the Wake Village Plaza and are categorized as Traditional Office, Coworking, and Creative Office spaces, making them suitable for a wide range of businesses. The property is located in Bowie County and offers a convenient and central location within Wake Village. This presents a unique opportunity to secure high-quality office space in a thriving Texas community. The property is available for multiple tenants.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wake Village
    County
    Bowie
    State
    Texas
    Longitude
    -94.1054
    Latitude
    33.4278

    Comparable in this City

    • Value Estimation by Request
      20,000 SF

      400 State Line Ave

      Churches & religious facilities • 20,000 SF
      400 State Line Ave, Texarkana, TX 75501
      View Details
    • Value Estimation by Request

      Texarkana, TX 75501

      CABLE TV STATION
      Texarkana, TX 75501
      View Details
    • Value Estimation by Request

      Texarkana, TX 75501

      CABLE TV STATION
      Texarkana, TX 75501
      View Details
    • Value Estimation by Request

      Texarkana, TX 75501

      CABLE TV STATION
      Texarkana, TX 75501
      View Details
    • Value Estimation by Request

      Texarkana, TX 75501

      CABLE TV STATION
      Texarkana, TX 75501
      View Details
    • Value Estimation by Request

      Texarkana, TX 75501

      CABLE TV STATION
      Texarkana, TX 75501
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,800 SF

      High-Visibility Corner Building

      Prime 1,800 SF building at a high-traffic intersection.
      2501 Summerhill Rd, Texarkana, TX 75501
      View Details
    • New
      Contact for pricing
      132 SF

      Professional Office Suite For Sale

      Private office suite in a quiet, professional setting.
      911 N Bishop St, Wake Village, TX 75501
      View Details
    • $698,500
      14,355 SF

      Versatile Commercial Building with Updates

      Adaptable commercial space with updated features and high visibility.
      702 Texas Blvd, Texarkana, TX 75501
      View Details
    • $175,000
      3,000 SF

      Texarkana Office/Training Facility For Sale

      Versatile metal building ideal for training, office, or light industrial.
      3005 S Lake Dr, Texarkana, TX 75501
      View Details
    • $175,000
      3,000 SF

      Versatile Building on High-Visibility Corner

      Turnkey training, office, or light industrial space in Texarkana.
      3005 S Lake Dr, Texarkana, TX 75501
      View Details
    • Contact for pricing
      12,442 SF

      Remodeled Texarkana Warehouse and Office

      Remodeled warehouse and office space in Texarkana, Texas.
      1521 Spruce St, Texarkana, TX 75501
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo
      20,909 SF

      Texarkana Office Space for Lease

      Configurable office suite in established medical building near Christus Health.
      921 Texas Blvd, Texarkana, TX 75501
      View Details
    • Contact for pricing

      Versatile Commercial Space Available

      4,500 SF commercial space suitable for various businesses.
      835 Redwater Rd, Wake Village, TX 75501
      View Details
    • Contact for pricing

      Texarkana Warehouse with Office Space

      Warehouse with roll-up doors, loading dock, and office space.
      1020 Bowie St, Texarkana, TX 75501
      View Details
    • $8,000 /Mo
      20,909 SF

      Texarkana Office Space For Lease

      Configurable upper-floor commercial suite in established medical office building.
      921 Texas Blvd, Texarkana, TX 75501
      View Details
    • New
      $2,800 /Mo
      950 SF

      Modern Office Suite For Rent

      Clean, modern office with reception, natural light, and ample parking.
      911 N Bishop St, Wake Village, TX 75501
      View Details
    • Contact for pricing

      Commercial Warehouse Space For Rent

      15,516 sq ft warehouse with showroom, offices, and parking.
      1102 Bowie St, Texarkana, TX 75501
      View Details
    Request Owner's contact information
    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.
    608 Redwater Rd
    Wake Village, TX 75501
    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
    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

    Thank You for Inquiry
    608 Redwater Rd, Wake Village, TX, 75501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!