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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    5005 Lake Park Dr Wichita Falls, TX 76302

    • Commercial real estate
    • 8.52 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6775105
    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.

    Current Use by Public Records

    • Auto Detailing Elites / Car Wash
    • Dasia Belle / Hair Salon / Nail Salon
    • Mustang Village / Apartment Building / Apartment Complex

    Property Details for 5005 Lake Park Dr

    Lot size
    8.52 lot acres
    Property type
    Commercial real estate
    APN
    444919

    Description

    This exceptional 8.52-acre commercial land parcel in Wichita Falls, Texas, presents a compelling investment opportunity. Located at 5005 Lake Park Dr, Wichita Falls, TX 76302 (APN 444919), this General Commercial (GC) zoned property is ideally situated for the development of a single-story self-storage facility. The site boasts a strategic location along a high-traffic roadway, Southwest Parkway, experiencing 24,939 vehicles daily. Its proximity to Midwestern State University, Kickapoo Downtown Airport, and Lake Wichita, coupled with its closeness to densely populated residential areas, ensures high demand for storage solutions. Nearby established businesses include the YMCA, Tractor Supply Co., Walmart Supercenter, and Starbucks, further enhancing the site's desirability. The strong local population of 49,289 residents within a three-mile radius supports a robust market for both climate-controlled storage units and larger spaces for boat and RV storage. This property offers significant potential for substantial returns, making it an attractive proposition for developers seeking a prime location in a thriving Texas market. The asking price for this exceptional opportunity is $800,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Wichita Falls
    County
    Wichita
    State
    Texas
    Longitude
    -98.519414
    Latitude
    33.854841

    Comparable in this City

    • $1,100,945
      65.15 Acres

      Highway 287 Development Opportunity

      65+ acre development site along US Highway 287 corridor.
      Tbd Hwy 287 E, Wichita Falls, TX 76302
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    • $84,777
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      Commercial Land on Highway 79

      4.22 acres of commercial land with high traffic frontage.
      1739 Archer City Hwy, Wichita Falls, TX 76302
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      Land Available For Sale

      0.92 acre land parcel available for purchase.
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    • Contact for pricing

      Land For Sale

      3.42 acres of land available for purchase.
      5131 Greenbriar Rd, Wichita Falls, TX 76302
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    • Contact for pricing

      Land Available For Lease

      Two lots available for lease on Archer City Hwy.
      1622 Archer City Hwy, Wichita Falls, TX 76302
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    • $87,499
      0.71 Acres

      Residential Lot Near Country Club

      Residential lot in upscale neighborhood near Wichita Falls Country Club.
      12 Chateau Ct, Wichita Falls, TX 76302
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    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      3.42 acres of land available for purchase.
      5131 Greenbriar Rd, Wichita Falls, TX 76302
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      Land Available For Lease

      Two lots available for lease on Archer City Hwy.
      1622 Archer City Hwy, Wichita Falls, TX 76302
      View Details
    • $84,777
      4.22 Acres

      Commercial Land on Highway 79

      4.22 acres of commercial land with high traffic frontage.
      1739 Archer City Hwy, Wichita Falls, TX 76302
      View Details
    • $1,100,945
      65.15 Acres

      Highway 287 Development Opportunity

      65+ acre development site along US Highway 287 corridor.
      Tbd Hwy 287 E, Wichita Falls, TX 76302
      View Details
    • Contact for pricing

      Land Available For Sale

      0.92 acre land parcel available for purchase.
      1622 Archer City Hwy, Wichita Falls, TX 76302
      View Details
    • $295,000

      Prime Commercial Corner Ready

      0.91 acre commercial corner for development in Wichita Falls.
      5103 Jacksboro Hwy, Wichita Falls, TX 76302
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    Similar Nearby for Lease

    • $5,000 /Mo
      5,314 SF

      Wichita Falls Warehouse For Rent

      Commercial metal building with offices, kitchen, and fenced lot.
      6985 Jacksboro Hwy, Wichita Falls, TX 76302
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    • $10,500 /Mo
      15,400 SF

      Furnished Office Space Available

      Furnished office space with open floor plan and included utilities.
      1206 Hatton Rd, Wichita Falls, TX 76302
      View Details
    • New
      $1,650 /Mo
      1,873 SF

      Wichita Falls Commercial Space For Rent

      Commercial space built in 2023, suitable for various businesses.
      1433 30Th St, Wichita Falls, TX 76302
      View Details
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    5005 Lake Park Dr
    Wichita Falls, TX 76302
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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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