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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Medical Office Space
1704 11th St Wichita Falls, TX 76301-5020
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US82-5889835
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1986
Total area
9,560 SF
Lot
1.63 ac (71,003 SF)
APN
0300 005 00
UPID
US82-5889835
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
Current use
Occupant on record · Public records
-
North Texas Ophthalmology Associates Medical Clinic Ophthalmologist
-
Dr. Phillip W. Kelly, MD Ophthalmologist
-
Avera Charles B MD Ophthalmologist
-
Dr. Marylin H. White Ophthalmologist
-
Marilyn White Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$923k
Blend (final)
Blend
$1.05M
Owner & transaction history
Progress West LLC · 2 yrs held
Progress West LLC
since 2023
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.2M
+68.5%
Auto repair, garage
$1.2M
+67.8%
Commercial (general)
$870,000
+23.9%
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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$700,000
Current use
RESTAURANT
$1,180,000
Change: +68% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,180,000
Change: +68% · Conversion: Difficult
COMMERCIAL (GENERAL)
$870,000
Change: +24% · Conversion: Easy
OFFICE BUILDING
$860,000
Change: +23% · Conversion: Easy
RETAIL STORES
$775,000
Change: +10% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$760,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$110 / SF
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
$25,598
Tax year 2023
Assessed value
$1,501,715
Assessed 2024
Previous assessed
$1,082,457
+38.7% YoY
Effective rate
1.70%
On assessed value
Assessed land
$142,006
Assessed improvement
$1,359,709
Land market value
$142,006
Improvement market value
$1,359,709
Total market value
$1,501,715
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
MEDICAL BUILDING
Status
Off-Market
Year built
1986
Heating
NONE
Buildings
2
Total area
9,560 SF
Lot
1.63 ac (71,003 SF)
APN
0300 005 00
UPID
US82-5889835
Jurisdiction
WICHITA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$700,000
RESTAURANT
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$870,000
OFFICE BUILDING
Est. value
$860,000
RETAIL STORES
Est. value
$775,000
INDUSTRIAL (GENERAL)
Est. value
$760,000
MEDICAL BUILDING Current
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Buildings
2
Lot
1.63 ac
Current owner
From public records · entity-resolved
Progress West LLC
Entity
Mailing address
1704 11TH ST, WICHITA FALLS, TX 76301-5020
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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 11, 2023
—
Progress West LLC
S&p Kelly LP
Deed
$1,550,000 · S&p Kelly LP
Aug 31, 2023
—
S&p Kelly LP
—
Deed
related
$201,473 · American National Bank & Trust
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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