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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1318 Harrison St Wichita Falls, TX 76309-2525

    • Retail space
    • 2,159 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2024
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    7.9%
    Retail space
    Location Intelligence
    Property ID
    US82-7286161
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 1318 Harrison St

    Year built
    1948
    Construction
    CONCRETE BLOCKS
    Lot size
    0.13 lot acres
    Property size
    2,159 SF
    Zone code
    LC
    Property type
    Retail space
    APN
    3230 019 00
    APU
    323001900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $405,000
      6.5%
      $375,000
      7%
      $350,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $210,000
      Current use
      OFFICE BUILDING
      $330,000
      Change: +55% Conversion: Easy
      COMMERCIAL (GENERAL)
      $295,000
      Change: +39% Conversion: Easy
      AUTO REPAIR, GARAGE
      $290,000
      Change: +37% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Wichita Falls
    County
    Wichita
    State
    Texas
    Longitude
    -98.5121
    Latitude
    33.898
    CBSA code
    48660
    CBSA name
    WICHITA FALLS, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $673
    $4,211
    $26,033
    $30,244
    -
    $4,211
    $26,033
    $30,244

    Comparable in this City

    • Value Estimation
      $295,000
      1,652 SF

      2158 Ave F F

      RETAIL STORES (PERSONAL SERVICES) • 1,652 SF
      2158 Ave F F, Wichita Falls, TX 76309-2534
      View Details
    • Value Estimation
      $290,000
      1,564 SF

      1525 Beverly Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,564 SF
      1525 Beverly Dr, Wichita Falls, TX 76309-2152
      View Details
    • Value Estimation
      $255,000
      4,212 SF

      1801 Grant St

      RETAIL STORES (PERSONAL SERVICES) • 4,212 SF
      1801 Grant St, Wichita Falls, TX 76309-3219
      View Details
    • Value Estimation
      $340,000
      9,260 SF

      4426 Kell Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,260 SF
      4426 Kell Blvd, Wichita Falls, TX 76309-4719
      View Details
    • Value Estimation
      $310,000
      6,500 SF

      2414 10th St

      RETAIL STORES (PERSONAL SERVICES) • 6,500 SF
      2414 10th St, Wichita Falls, TX 76309-2306
      View Details
    • Value Estimation
      $285,000
      3,447 SF

      1802 Harrison St Sta, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 3,447 SF
      1802 Harrison St Sta, Wichita Falls, TX 76309-3319
      View Details

    Similar Nearby for Sale

    • New
      $199,900
      2,376 SF

      Renovated Commercial Building in Wichita Falls

      Versatile, renovated commercial space suitable for retail, office, or creative uses.
      2710 Grant St, Wichita Falls, TX 76309
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    • $199,900
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      Wichita Falls Commercial/Retail Space

      Commercial/retail space with flexible layout in Wichita Falls, Texas.
      1104 11Th St, Wichita Falls, TX 76309
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    • $425,000
      7.89 Acres

      Wichita Falls Acreage For Sale

      7.89 acres suitable for grocery/gas, divisible.
      4610 Seymour Hwy, Wichita Falls, TX 76309
      View Details
    • $225,000
      3,024 SF

      Wichita Falls Commercial Investment Opportunity

      Commercial building and house on a corner lot for sale.
      3014 Avenue Q, Wichita Falls, TX 76309
      View Details
    • $2,450,000
      6,531 SF

      Freestanding Building on Kell West

      Freestanding building with equipment, high visibility, and private parking.
      4330 Kell Blvd W, Wichita Falls, TX 76309
      View Details
    • $1,766,793
      3.38 Acres

      Kell/Seymour Road Prime Pad Site

      Wichita Falls, TX commercial land
      6317 Seymour Rd, Wichita Falls, TX 76309
      View Details

    Similar Nearby for Lease

    • $5,000 /Mo
      4,602 SF

      Retail Space on Busy Street

      Commercial retail space for rent on a busy street.
      2100 Kemp Blvd, Wichita Falls, TX 76309
      View Details
    • $5,000 /Mo
      14,985 SF

      Retail Space on Busy Street

      Retail space for rent on a busy street, build to suit.
      2100 Kemp Blvd, Wichita Falls, TX 76309
      View Details
    • $2,500 /Mo
      3,050 SF

      Wichita Falls Commercial Space

      Commercial space with private rooms, suitable for various businesses.
      1104 11Th St, Wichita Falls, TX 76309
      View Details
    • $2,495 /Mo
      2,856 SF

      Versatile Commercial Space For Lease

      Customizable commercial property suitable for office, retail, or professional services.
      2407 Kemp Blvd, Wichita Falls, TX 76309
      View Details
    • New
      $800 /Mo
      1,064 SF

      Office Space in Wichita Falls

      Office building featuring two spacious office rooms and a break room.
      1805 Kemp Blvd, Wichita Falls, TX 76309
      View Details
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    Wichita Falls, TX 76309-2525
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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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