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    518 Hwy Wolfforth, TX 79382

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    518 Hwy Wolfforth, TX 79382

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    • Retail properties & Spaces
    • 4,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 518 Hwy

    Property size
    4,000 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail property, located at 518 Hwy 62/82 in Wolfforth, Texas, 79382, offers a unique opportunity for businesses seeking high visibility and ample parking. The 4,000 square foot building presents itself as a blank canvas for redevelopment, perfect for a variety of uses including retail, service, or hospitality businesses. The property is currently available as a whole, or the owner is willing to subdivide the space into smaller units, with a minimum divisible space of 1,500 square feet. This flexibility allows for businesses of various sizes to find a suitable fit. The building boasts excellent visibility from the heavily trafficked Highway 62/82, ensuring significant exposure to potential customers. The ample parking available further enhances the convenience and appeal of this location. Lease rates and square footage are negotiable, providing an opportunity to tailor the space and terms to meet specific business needs. This prime location in Wolfforth, Texas offers a strong foundation for growth and success. Don't miss this chance to secure a prominent retail space in a thriving community. Contact us today to discuss your business needs and explore the possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Wolfforth
    County
    Lubbock
    State
    Texas
    Longitude
    -101.999
    Latitude
    33.5158

    Comparable in this City

    • Value Estimation by Request
      2,336 SF

      735 Us-62

      Individual retail properties • 2,336 SF
      735 Us-62, Wolfforth, TX 79382
      View Details
    • Value Estimation by Request
      2,840 SF

      726 Hwy 82

      RESTAURANT • 2,840 SF
      726 Hwy 82, Wolfforth, TX 79382
      View Details
    • Value Estimation by Request
      1,764 SF

      740 Hwy 62-82

      RESTAURANT • 1,764 SF
      740 Hwy 62-82, Wolfforth, TX 79382
      View Details
    • Value Estimation
      $680,000
      6,797 SF

      641 Hwy 62-82

      RETAIL STORES (PERSONAL SERVICES) • 6,797 SF
      641 Hwy 62-82, Wolfforth, TX 79382
      View Details
    • Value Estimation by Request
      7,500 SF

      449 Hwy 62-82

      SHOPPING CENTER, STRIP CENTER • 7,500 SF
      449 Hwy 62-82, Wolfforth, TX 79382
      View Details
    • Value Estimation
      $1,090,000
      11,566 SF

      207 Hwy 62-82

      RETAIL STORES (PERSONAL SERVICES) • 11,566 SF
      207 Hwy 62-82, Wolfforth, TX 79382
      View Details

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      Wolfforth Commercial Development Opportunity

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      Wolfforth, TX Land Opportunity

      Land available in Wolfforth, TX, ideal for duplex construction.
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      Wolfforth Duplex in Preston Trails

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    Similar Nearby for Lease

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      Retail Space for Lease

      Retail space available for lease in Wolfforth, Texas.
      508 5Th St, Wolfforth, TX 79382
      View Details
    • $750 /Mo
      1,000 SF

      Wolfforth Shop or Storage Space

      1000 sqft shop/storage space with bathroom for lease.
      10614 Private Road 1310, Wolfforth, TX 79382
      View Details
    • $1,300 /Mo
      2,000 SF

      Wolfforth Retail or Storage Space

      2000 sqft retail or storage space for lease.
      10614 Private Road 1310, Wolfforth, TX 79382
      View Details
    • $1,800 /Mo
      1,919 SF

      Wolfforth Retail Space Available

      Former convenience store, potential restaurant space for lease in Wolfforth.
      508 5Th St, Wolfforth, TX 79382
      View Details
    • Contact for pricing

      Office/Warehouse with Fenced Yard

      5,000 SF office/warehouse with fenced yard for lease.
      9316 Fm 1585, Wolfforth, TX 79382
      View Details
    • $4,500 /Mo
      4,718 SF

      Wolfforth Warehouse Space Available

      4,718 SF warehouse space for lease in Wolfforth, Texas.
      8312 98Th St, Wolfforth, TX 79382
      View Details
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    Wolfforth, TX 79382
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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
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