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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Flex space
2 Industrial Ave Iowa Park, TX 76367
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-7192749
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2005
Total area
15,000 SF
Lot
3 ac (130,680 SF)
APN
6A68 101 00
UPID
US82-7192749
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
$1.19M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.23M
Owner & transaction history
Kulbeth & Ward Company · 13 yrs held
Kulbeth & Ward Company
since 2012
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+48.6%
Restaurant
$1.8M
+43.1%
Warehouse, storage
$1.6M
+32.2%
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 Iowa Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Iowa Park 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%
$1,285,000
6.5%
$1,190,000
7%
$1,105,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,235,000
Current use
OFFICE BUILDING
$1,835,000
Change: +49% · Conversion: Difficult
RESTAURANT
$1,765,000
Change: +43% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,630,000
Change: +32% · Conversion: Easy
RETAIL STORES
$1,500,000
Change: +21% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,215,000
Change: -2% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,195,000
Change: -3% · Conversion: Difficult
MEDICAL BUILDING
$1,180,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±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
$82 / 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
$4,090
Tax year 2023
Assessed value
$793,257
Assessed 2024
Previous assessed
$754,065
+5.2% YoY
Effective rate
0.52%
On assessed value
Assessed land
$42,000
Assessed improvement
$751,257
Land market value
$42,000
Improvement market value
$751,257
Total market value
$793,257
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2005
Heating
NONE
Total area
15,000 SF
Lot
3 ac (130,680 SF)
APN
6A68 101 00
UPID
US82-7192749
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
INDUSTRIAL (GENERAL) Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.8M
RESTAURANT
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.6M
RETAIL STORES
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
2005
Heating
NONE
Lot
3 ac
Current owner
From public records · entity-resolved
Kulbeth & Ward Company
Entity
Mailing address
4414 WEEKS PARK LN, WICHITA FALLS, TX 76308-4027
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 31, 2012
$400,000
Kulbeth & Ward Company
Iowa Park Economic Development Corp
Venders Lien
$400,000 · Iowa Park Econonic Development Corp
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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