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    3800 Tarry St Wichita Falls, TX 76308-1601
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    Property profile & analytics

    3800 Tarry St, Wichita Falls, TX 76308-1601

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    • Motels
    • 64,962 SF
    • 2.15 lot acres
    Off-Market
    Property ID
    US82-7244540
    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.
    Value Estimations
    $2,595,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Courtyard Wichita Falls / Hotel & Motel
    • Tarry Street Parking / Parking Lot & Garage

    Property Details for 3800 Tarry St

    Year built
    2008
    Lot size
    2.15 lot acres
    Zone code
    GC
    Property type
    Motels
    APN
    0386 020 02
    APU
    38602002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 24, 2017 — Txhp Wichita Falls LLC — Deed · related —
    Aug 30, 2012 — Txhp Wichita Falls LLC Genuine Faith Wichita Falls LLC Special Warranty Deed $110M · Wells Fargo Bank NA

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,348,000
      Market price range: $867k - $3.74M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,935,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita Falls
    County
    Wichita
    State
    Texas
    Longitude
    -98.5386
    Latitude
    33.8779
    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
    $165,537
    $462,918
    $5,737,082
    $6,200,000
    -
    $462,918
    $5,737,082
    $6,200,000

    Comparable in this City

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      39,564 SF

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      MOTEL
      4540 Maplewood Ave, Wichita Falls, TX 76308-4644
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    • Value Estimation
      $2,045,000
      49,694 SF

      2511 Montgomery E Pl

      MOTEL
      2511 Montgomery E Pl, Wichita Falls, TX 76308-3720
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    • Value Estimation
      $1,760,000
      39,662 SF

      1917 Elmwood N Ave

      MOTEL
      1917 Elmwood N Ave, Wichita Falls, TX 76308-3725
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    • Value Estimation
      $1,020,000
      30,126 SF

      4414 Westgate St

      MOTEL
      4414 Westgate St, Wichita Falls, TX 76308-3730
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    • Value Estimation
      $1,845,000
      44,346 SF

      4217 Kemp Blvd

      MOTEL
      4217 Kemp Blvd, Wichita Falls, TX 76308-2804
      View Details
    • Value Estimation by Request
      5,328 SF

      2675 Plz Pkwy

      HOTEL
      2675 Plz Pkwy, Wichita Falls, TX 76308-2906
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,231 SF

      Church and Day Care Facility

      Church and former day care facility with classrooms and kitchen.
      4403 Phillips Dr, Wichita Falls, TX 76308
      View Details
    • $158,800
      0.52 Acres

      Corner-Adjacent Commercial Land Lot

      Build-ready commercial lot positioned behind prominent nearby restaurants and services.
      5015 Taft Blvd, Wichita Falls, TX 76308
      View Details
    • Contact for pricing

      Commercial Land Near Shopping Centers

      Land near high-traffic shopping centers and major retailers.
      3920 Lawrence Rd, Wichita Falls, TX 76308
      View Details
    • $799,900
      2.23 Acres

      Commercial Land Tract with Parking

      A 2.23-acre commercial land site with nearby paved parking and utilities available for new development.
      3908 Call Field Rd, Wichita Falls, TX 76308
      View Details
    • Contact for pricing

      Development Ready Land For Sale

      5.37 AC lot ready for development with all utilities.
      2606 Southwest Pkwy, Wichita Falls, TX 76308
      View Details
    • $219,900
      1.01 Acres

      Undeveloped Commercial Land Tract

      An undeveloped tract suited for office or retail development in an established commercial retail area.
      3701 Gregory St, Wichita Falls, TX 76308
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Center on Kemp Boulevard

      Retail center with fully furnished restaurant space available for lease.
      2805 Southwest Pkwy, Wichita Falls, TX 76308
      View Details
    • Contact for pricing

      Southwest Parkway Pad Site Available

      Pad site for rent in growing Wichita Falls area.
      2211 Southwest Pkwy, Wichita Falls, TX 76308
      View Details
    • $1,250 /Mo
      1,100 SF

      Multi-Use Retail or Office Space

      Versatile commercial space on a main thoroughfare, suited for retail, office, or service uses.
      4410 Kemp Blvd, Wichita Falls, TX 76308
      View Details
    • $1,842 /Mo
      1,228 SF

      Office Suite in Professional Building

      Available Suite 2 offers a dedicated office setting for professional tenants in a shared, established practice environment.
      4722 Taft Blvd, Wichita Falls, TX 76308
      View Details
    • Contact for pricing
      24,018 SF

      Prominent Retail Space Available

      24,018 SF retail space near Sikes Senter Mall.
      3712 Call Field Rd, Wichita Falls, TX 76308
      View Details
    • Contact for pricing
      42,300 SF

      Retail Space on US-277

      42,300 SF retail space with high visibility and access.
      3915 A Kell Blvd E, Wichita Falls, TX 76308
      View Details

    Property Visit Statistics

    • Visits by month
      17.9k
    • Visitors by month
      12.7k
    • Avg Time on site
      14 min
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    Wichita Falls, TX 76308-1601
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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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