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Property profile & analytics
OFF-MARKET
Medical Office Space
1501 Brk Ave Wichita Falls, TX 76301-5657
Individually Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-5604923
Property profile
Verified
Property type
Medical Office Space
Use group
DENTAL BUILDING
Year built
1940
Construction
WOOD
Total area
6,328 SF
Lot
0.34 ac (15,002 SF)
Zoning code
BA
APN
3300 301 00
UPID
US82-5604923
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Mike Shallenberger · 11 yrs held
Mike Shallenberger
since 2014
2 recorded transactions
Zoning & alternative use
BA · Wichita Falls, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
ERAL COMMERCIAL DISTRICT Pt 3510 LI-LIGHT INDUSTRIAL DISTRICT Pt 3580 HI-HEAVY INDUSTRIAL DISTRICT Pt 3640 PUD-PLANNED UNIT DEVELOPMENT DISTRICT Pt 3700 RIVER DEVELOPMENT DISTRICT (Outside Greater Downtown Zone) Pt 3715 BA-BROOK AVENUE DISTRICT Pt 3730 CC-COMMERCIAL CORRIDOR DISTRICT Pt 3750 GREATER DOWNTOWN ZONING DISTRICT REGULATIONS Pt 3765 GREATER DOWNTO…
Zone name
Brook Avenue District
General category
RESIDENTIAL
Zone area
13.62 ac
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wichita Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wichita Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,728
Tax year 2023
Assessed value
$398,245
Assessed 2024
Previous assessed
$411,367
-3.2% YoY
Effective rate
2.44%
On assessed value
Assessed land
$75,010
Assessed improvement
$323,235
Land market value
$75,010
Improvement market value
$323,235
Total market value
$398,245
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
DENTAL BUILDING
Status
Off-Market
Year built
1940
Construction
WOOD
Heating
NONE
Units
1
Total area
6,328 SF
Lot
0.34 ac (15,002 SF)
Zoning code
BA
APN
3300 301 00
UPID
US82-5604923
Jurisdiction
WICHITA
Zoning & alternative use
BA · Wichita Falls, TXZoning BA · permitted uses
BA · Wichita Falls, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
ERAL COMMERCIAL DISTRICT Pt 3510 LI-LIGHT INDUSTRIAL DISTRICT Pt 3580 HI-HEAVY INDUSTRIAL DISTRICT Pt 3640 PUD-PLANNED UNIT DEVELOPMENT DISTRICT Pt 3700 RIVER DEVELOPMENT DISTRICT (Outside Greater Downtown Zone) Pt 3715 BA-BROOK AVENUE DISTRICT Pt 3730 CC-COMMERCIAL CORRIDOR DISTRICT Pt 3750 GREATER DOWNTOWN ZONING DISTRICT REGULATIONS Pt 3765 GREATER DOWNTOWN ZONING DISTRICT DEVELOPMENT REGULATIONS Pt 3766 CENTRAL BUSINESS DISTRICT - CBD
Zone name
Brook Avenue District
General category
RESIDENTIAL
Zone area
13.62 ac
Building & site characteristics
From public records
Year built
1940
Construction
WOOD
Heating
NONE
Units
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Mike Shallenberger
Individual
Mailing address
3806 OLD IOWA PARK RD, WICHITA FALLS, TX 76305-5114
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 10, 2014
—
Mike Shallenberger
The Estate Of Elmer Durwood Wheatle
Venders Lien
$166,000 · Fidelity Bank
Dec 15, 2008
—
E Durwood Wheatley
Daniel L Gomillion
Intrafamily Transfer
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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