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Property profile & analytics
OFF-MARKET
Estimated value
$1,740,000
Office Spaces
3237 Industrial Dr Wichita Falls, TX 76306-3548
Individually Owned
3-yr Hold
Free & Clear
Property ID
US82-6846472
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1978
Total area
10,000 SF
Lot
1.45 ac (63,162 SF)
Zoning code
LI
APN
0210 015 00
UPID
US82-6846472
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
-
Ashley Chadha, MD Door'a Systems'a of'a Wichita'a Falls'a Medical Clinic Physician
-
Door Systems of Wichita Falls Building Supply General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.83M
Comparable Approach
Comparable
$1.65M
Blend (final)
Blend
$1.74M
Owner & transaction history
Jonas Todd Bitsche · 3 yrs held
Jonas Todd Bitsche
since 2023
2 recorded transactions
Zoning & alternative use
LI · Wichita Falls, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
CT § 3330 Purpose. § 3340 Permitted uses. § 3350 Conditional uses. § 3355 Development regulations. Pt 3360 LO-LIMITED OFFICE DISTRICT Pt 3370 LC-LIMITED COMMERCIAL DISTRICT Pt 3450 GC-GENERAL 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 DI…
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
5,181.57 ac
Top alternative use upside
Warehouse, storage
$1.3M
+13.0%
Restaurant
$1.2M
+6.4%
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%
$1,980,000
6.5%
$1,830,000
7%
$1,695,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,145,000
Current use
WAREHOUSE, STORAGE
$1,295,000
Change: +13% · Conversion: Difficult
RESTAURANT
$1,220,000
Change: +6% · Conversion: Difficult
RETAIL STORES
$1,085,000
Change: -6% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,075,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.74M
Range $1.57M – $1.91M · ±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
$174 / 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
$7,857
Tax year 2023
Assessed value
$376,792
Assessed 2024
Previous assessed
$342,197
+10.1% YoY
Effective rate
2.09%
On assessed value
Assessed land
$15,791
Assessed improvement
$361,001
Land market value
$15,791
Improvement market value
$361,001
Total market value
$376,792
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1978
Heating
NONE
Buildings
2
Total area
10,000 SF
Lot
1.45 ac (63,162 SF)
Zoning code
LI
APN
0210 015 00
UPID
US82-6846472
Jurisdiction
WICHITA
Zoning & alternative use
LI · Wichita Falls, TXZoning LI · permitted uses
LI · Wichita Falls, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
CT § 3330 Purpose. § 3340 Permitted uses. § 3350 Conditional uses. § 3355 Development regulations. Pt 3360 LO-LIMITED OFFICE DISTRICT Pt 3370 LC-LIMITED COMMERCIAL DISTRICT Pt 3450 GC-GENERAL 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
Zone name
Light Industrial
General category
INDUSTRIAL
Zone area
5,181.57 ac
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.3M
RESTAURANT
Est. value
$1.2M
RETAIL STORES
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
WAREHOUSE, STORAGE
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
1978
Heating
NONE
Buildings
2
Lot
1.45 ac
Current owner
From public records · entity-resolved
Jonas Todd Bitsche
Individual
Free & Clear · 3 yrs held
Mailing address
3237 INDUSTRIAL DR, WICHITA FALLS, TX 76306-3548
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
Jul 26, 2023
—
Jonas Todd Bitsche
Jonas I Bitsche
Intrafamily Transfer
related
—
May 16, 2005
—
Ronald D Bell
Loretta Davis
Special Warranty Deed
—
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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