4130 Burkburnett RdWichita Falls, TX 76306

Property Details for 4130 Burkburnett Rd

Year built

1940

Construction

WOOD

Lot size

1.86 AC

Property size (Sq ft)

3,715 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

4630 056 00

APU

463005600

Description

This exceptional value-add opportunity presents a 3,715 square foot retail center situated on a substantial 4.26-acre lot in Wichita Falls, Texas. The property boasts high visibility on SH 240, enjoying a prime location near Sheppard Air Force Base. The existing retail center comprises four suites, three of which are currently occupied, offering immediate income potential. Below-market rents present a significant opportunity for an investor to quickly increase profitability. The substantial 3+ acres of vacant land behind the main building offer considerable expansion potential, suitable for various developments such as additional storage units, multi-family housing, or even an RV park. Further enhancing this investment, there's an option to acquire adjacent properties at 4120-4122 Burkburnett Rd, encompassing a 1,478 square foot single-family home and a 1,779 square foot retail building, at a separately negotiated price. The property benefits from city water and sewer services. This is a rare chance to acquire a well-positioned retail center with significant upside potential and ample land for future development in a thriving Texas market. The asking price for this property is $350,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,028,111

  6.5%

  $949,026

  7%

  $881,238

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,091,320

  Geo Method

  $1,126,412

• Alternative Use

  Use

  Valuation

  Residential

  $800,539

  Hospitality

  $733,289

  Educational

  $610,088

  Medical

  $631,070

  Retail

  $949,026

Location Insight

City

Wichita Falls

County

Wichita

State

Texas

Latitude

33.9658

Longitude

-98.5164

CBSA code

48660

CBSA name

WICHITA FALLS, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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