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Property profile & analytics
OFF-MARKET
Estimated value
$515,000
Warehouses
3920 Armory Rd, Wichita Falls, TX 76302-2222
Individually Owned
18-yr Hold
~
Est. High Equity
Property ID
US82-7009636
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1984
Total area
7,000 SF
Lot
10.57 ac (460,429 SF)
Zoning code
SF2
APN
0740 189 00
UPID
US82-7009636
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
-
Southern Hills Elementary School High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$515k
Owner & transaction history
Wichita Falls Independent School Di · 18 yrs held
Wichita Falls Independent School Di
since 2007
1 recorded transaction
Zoning & alternative use
SF2 · Wichita Falls, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$805,000
+24.8%
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
WAREHOUSE, STORAGE
$645,000
Current use
RESTAURANT
$805,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$630,000
Change: -2% · Conversion: Difficult
RETAIL STORES
$515,000
Change: -20% · Conversion: Moderate
Blend value · Realmo final
$515k
Range $464k – $567k · ±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
$74 / 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
Assessed value
$12,878,517
Assessed 2024
Previous assessed
$14,410,818
-10.6% YoY
Assessed land
$158,550
Assessed improvement
$12,719,967
Land market value
$158,550
Improvement market value
$12,719,967
Total market value
$12,878,517
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1984
Heating
NONE
Buildings
3
Total area
7,000 SF
Lot
10.57 ac (460,429 SF)
Zoning code
SF2
APN
0740 189 00
UPID
US82-7009636
Jurisdiction
WICHITA
Zoning & alternative use
SF2 · Wichita Falls, TX
Zoning SF2 · permitted uses
SF2 · Wichita Falls, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wichita Falls. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$645,000
RESTAURANT
Est. value
$805,000
OFFICE BUILDING
Est. value
$630,000
RETAIL STORES
Est. value
$515,000
WAREHOUSE, STORAGE Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
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
1984
Heating
NONE
Buildings
3
Lot
10.57 ac
Current owner
From public records · entity-resolved
Wichita Falls Independent School Di
Individual
Mailing address
PO BOX 97533, WICHITA FALLS, TX 76307-7533
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
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 6, 2007
—
Wichita Falls Independent School Di
City Of Wichita Falls
Venders Lien
$135,682 · City Of Wichita Fall Texas
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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