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Property profile & analytics
OFF-MARKET
Estimated value
$1,945,000
Medical Office Space
405 Access Rd Iowa Park, TX 76367-6985
Individually Owned
12-yr Hold
Free & Clear
Property ID
US82-9515294
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2014
Total area
13,904 SF
Lot
2.16 ac (93,902 SF)
APN
6A46 158 23
UPID
US82-9515294
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
-
Iowa Park Clinic Medical Clinic
-
Iowa Park Pharmacy Pharmacy
-
Brie Heaton Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.21M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.95M
Owner & transaction history
Electra Hospital District · 12 yrs held
Electra Hospital District
since 2013
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+55.7%
Restaurant
$1.6M
+49.8%
Warehouse, storage
$1.5M
+38.4%
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 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%
$2,390,000
6.5%
$2,205,000
7%
$2,050,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,700,000
Change: +56% · Conversion: Easy
RESTAURANT
$1,635,000
Change: +50% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,510,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$1,390,000
Change: +27% · Conversion: Difficult
Blend value · Realmo final
$1.95M
Range $1.75M – $2.14M · ±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
$140 / 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
$2,968,114
Assessed 2024
Previous assessed
$3,073,987
-3.4% YoY
Assessed land
$46,951
Assessed improvement
$2,921,163
Land market value
$46,951
Improvement market value
$2,921,163
Total market value
$2,968,114
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2014
Heating
NONE
Total area
13,904 SF
Lot
2.16 ac (93,902 SF)
APN
6A46 158 23
UPID
US82-9515294
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
OFFICE BUILDING
Est. value
$1.7M
RESTAURANT
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.5M
RETAIL STORES
Est. value
$1.4M
OFFICE BUILDING
RESTAURANT
WAREHOUSE, STORAGE
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
2014
Heating
NONE
Lot
2.16 ac
Current owner
From public records · entity-resolved
Electra Hospital District
Individual
Free & Clear · 12 yrs held
Mailing address
PO BOX 1112, ELECTRA, TX 76360-1112
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
Oct 1, 2013
—
Electra Hospital District
David W Parkey
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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