3101 Armory RdWichita Falls, TX 76302

Property Details for 3101 Armory Rd

Year built

1950

Lot size

5.55 AC

Property size (Sq ft)

36,398 SF

Zone code

GC

Property type

Warehouses

APN

0470 070 04

APU

47007004

Description

This exceptional 36,398-square-foot flex building presents a unique investment opportunity in Wichita Falls, Texas. Situated on a spacious 5.55-acre lot, this former school building offers a versatile layout including ample workshop areas, offices, and substantial storage space. The property features multiple roll-up doors ranging from 9 to 16 feet, enhancing accessibility and functionality. Security is ensured by a fenced yard complete with electronic gates. The building is conveniently located with easy access to major highways including TX-79, US-281, and US-287, providing excellent visibility and connectivity. Zoned for General Commercial use, this property allows for a broad range of potential applications. A significant advantage is the inclusion of an approximately 80-85 kW solar system, still under the manufacturer's warranty, contributing to significant energy savings. The property boasts ample parking and is priced at $849,000, or $23.33 per square foot. Built in 1950, this single-story structure is classified as Class C and currently sits vacant, presenting a blank canvas for a discerning buyer. The property's address is 3101 Armory Rd, Wichita Falls, TX 76302, and its APN is 0470 070 04. This is a rare opportunity to acquire a substantial property in a thriving area with significant potential for return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $14,935,100

  6.5%

  $13,786,300

  7%

  $12,801,600

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,788,510

  Geo Method

  $7,007,050

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $7,133,650

  Mixed-Use / Specialty

  $7,158,740

  Hospitality / Lodging

  $5,317,920

  Office

  $7,168,840

  Institutional / Educational

  $7,460,260

  Residential Income

  $8,728,510

  Multifamily

  $10,188,400

  Automotive / Energy

  $6,394,510

  Parking / Income-Based Land

  $2,156,750

  Restaurant / Food Service

  $3,831,140

  Healthcare / Senior Housing

  $7,289,350

Location Insight

City

Wichita Falls

County

Wichita

State

Texas

Latitude

33.8822

Longitude

-98.4848

CBSA code

48660

CBSA name

WICHITA FALLS, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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