I am a real estate agent for United Country Cason Real Estate and have lived in Mineral Wells since 1999. We are currently in an upswing in our area. Although real estate is slow, it is steady and is starting a slow increase. This is expected to continue due to the oil and gas boom we are experiencing. We have had several rigging companies move into town and are now seeing an increase in new home building and sales. If you can give me the address of the property you have been offered, I may be able to tell you some information about the building.
We had a Super Wal-Mart come in about three years ago and since then, other retail businesses have begun to build here. We now have a Walgreens, Chili's, Tractor Supply and two small strip malls being built next to Wal-Mart. There is another hotel (Holiday Inn Express) that just recently bought some property at the eastern edge of Mineral Wells. We also have a Ramada, Best Western and a couple of smaller hotels. A study was done stating the we could use an additional 400 rooms for the town. It is hard sometimes to get reservations without being on a waiting list, especially during the summer.
Is the downtown area vibrant enough to be worth a retail business venture? It would depend on what type of business it is going to be. Currently, we have a shipping station, horse supply store, police department, barbershop, tax office extension for the county, church, two office supply stores, a skateboard shop, couple of clothing stores and several antique shops on the main highway (north and south 281) into and out of town. Mineral Wells is not big, but we are busy. If you have more questions, please let me know. I'll be happy to answer them for you. My e-mail address is firstname.lastname@example.org
I'm not in real estate or marketing, but I am a consumer. I lived in Mineral Wells from 1992-2008. When I left the economy was in an upswing like the real estate agent said, but I have seen many businesses come and go from downtown MW. If it were me, I wouldn't take the chance, especially if you are talking about retail. The locals love Wal-Mart. Its cheap and they get everything there. Most people are working class and don't have money for frivolous things. If you're counting on tourism, most people who come to town are not tourists. It is really hard to stay in business downtown. You might have a chance if you've got something that is only available in the city. For example, the skate shop the real estate agent mentioned. They've been in business for awhile and that's why. I hope that this has been helpful to you. Good luck in your endeavors!