3117 Kemp BlvdWichita Falls, TX 76308

Property Details for 3117 Kemp Blvd

Year built

1945

Construction

WOOD

Lot size

0.21 AC

Property size (Sq ft)

2,168 SF

Zone code

GC

Property type

Retail properties

Property subtype

Retail space

APN

3130 039 00

APU

313003900

Description

This exceptional executive office space, located at 3117 Kemp Blvd in Wichita Falls, Texas, presents a unique investment opportunity. Priced at $259,900, this single-tenant property boasts 2,168 square feet of net rentable space within a building constructed in 1945. The building sits on a 0.21-acre lot and offers a flexible floor plan ideal for a variety of uses. The current layout includes a showroom, private office, and a large work area, catering to diverse business needs. Ample parking is available both in front and at the rear of the building. A significant advantage is the inclusion of additional storage space in a secondary building on the property. The property's prime location on Kemp Boulevard ensures high visibility and accessibility, with nearby businesses including McDonald's and Sonic. The current lease expires in March 2025, with a gross lease of $2200 per month. This property is perfect for an owner-occupier or investor seeking a strong return in a high-traffic area. The property is classified as Office and Retail, and is zoned for a variety of uses. The building is a single structure, offering a cohesive and manageable space. This is a rare opportunity to acquire a well-located, versatile commercial property in a thriving Texas market.

• CAP approach

  CAP return

  Valuation

  6%

  $600,015

  6.5%

  $553,860

  7%

  $514,299

• Comparable approach

  Method

  Valuation

  Relative Method

  $636,829

  Geo Method

  $657,352

• Alternative Use

  Use

  Valuation

  Residential

  $467,202

  Hospitality

  $427,954

  Educational

  $356,053

  Medical

  $368,298

  Retail

  $553,860

Location Insight

City

Wichita Falls

County

Wichita

State

Texas

Latitude

33.8806

Longitude

-98.5285

CBSA code

48660

CBSA name

WICHITA FALLS, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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