1601 9Th StWichita Falls, TX 76301

Property Details for 1601 9Th St

Year built

1982

Construction

WOOD

Lot size

1.10 AC

Property size (Sq ft)

10,805 SF

Zone code

GC

Property type

Medical offices

Property subtype

Medical centers

APN

0030 719 00

APU

3071900

Description

This exceptional 10,805 square foot office building presents a compelling investment opportunity in Wichita Falls, Texas' thriving medical district. Located at 1601 9th Street, 76301, this single-story property sits on a 1.102-acre lot and offers a flexible layout ideal for various medical or commercial uses. Built in 1982 by Erdman, renowned healthcare facility specialists, the building features non-load bearing walls, allowing for easy interior reconfiguration to meet specific needs. The property boasts numerous professional offices, exam rooms, storage rooms, and a break room with a kitchen. Two front entrances, each with its own reception area, offer the potential for a third entrance. Ample covered staff parking with four private entrances ensures convenience and privacy. Its proximity to United Regional Hospital is a significant advantage. The asking price is $2,079,000, translating to $192.41 per square foot. This property is an exceptional opportunity for investors seeking a strong return in a high-demand location. The building's versatile design and prime location make it suitable for a wide range of medical and commercial tenants. The ample parking and convenient access further enhance its appeal. This is a rare chance to acquire a well-maintained, established property in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,305,460

  6.5%

  $2,128,110

  7%

  $1,976,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,259,520

  Geo Method

  $1,300,060

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,092,560

  Retail / Commercial

  $2,117,670

  Mixed-Use / Specialty

  $2,125,120

  Hospitality / Lodging

  $1,578,660

  Institutional / Educational

  $2,214,630

  Residential Income

  $2,591,110

  Multifamily

  $3,024,510

  Automotive / Energy

  $1,898,250

  Parking / Income-Based Land

  $640,248

  Restaurant / Food Service

  $1,137,290

  Healthcare / Senior Housing

  $2,163,890

Location Insight

City

Wichita Falls

County

Wichita

State

Texas

Latitude

33.9043

Longitude

-98.5022

CBSA code

48660

CBSA name

WICHITA FALLS, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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