Wichita Tower 800 Indiana Ave 90,743 SF Office Building Wichita Falls, TX 76301 $1,500,000 ($16.53/SF)

Wichita Tower is a 12-story historic high-rise located in the heart of downtown Wichita Falls. The ±90,743 SF concrete and steel structure offers a strong foundation for mixed-use multifamily conversion, and the property includes four adjacent surface parking lots totaling 190+ dedicated spaces — an uncommon asset in the CBD where most buildings rely heavily on street parking. This parking control materially enhances redevelopment feasibility and long-term competitiveness.
Preliminary planning supports conversion to approximately 50+ residential units with ground-floor commercial potential. Efficient floor plates, existing vertical infrastructure, and upper-floor views create strong positioning for premium or sub-luxury product.
Downtown Wichita Falls benefits from stable occupancy and consistent demand drivers including Sheppard Air Force Base, Midwestern State University, regional healthcare employers, and government offices. A recently announced data center development (Skybox, Feb 2026) further strengthens long-term multifamily demand in a market positioned for growth.
Contractor feasibility reviews have modeled targeted conversion costs near $90/SF with no anticipated structural remediation or structured parking requirements. The project also benefits from prior environmental, structural, and architectural analysis, reducing typical pre-development risk and accelerating the path to construction.
Offered at $1.5M, Wichita Tower provides control of vertical density and parking scale that would be economically difficult to replicate today. Multiple exit strategies include multifamily conversion, phased redevelopment, refinance upon stabilization, or disposition as a stabilized asset.