Commercial Land with Existing
For Sale
Under Contract
$825,000
315 Hemphill Street, Fort Worth, TX 76104
CommercialSale, Fort Worth, TX
Property Size2,480 SF
Lot Size0.35 Acres
Price / SF$332.66
Days on Market67
Property Features for 315 Hemphill Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Accessibility
Accessible Approach with Ramp
Subdivision
Jennings South Add
Lot features
Acreage
Directions
315 Hemphill St, Fort Worth, Tx 321 Hemphill St, Fort Worth, Tx
Standard status
Active Under Contract
APN
01450883
Size
2,480 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Description
JENNINGS SOUTH ADDITION BLOCK 19 LOT 2C & 3A
Tax Annual Amount
6926
Legal Description
JENNINGS SOUTH ADDITION BLOCK 19 LOT 2C & 3A
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1949
Floors in Building
1
Number of units
2
Flooring type
Carpet, Concrete
Building materials
Brick
Roof type
Composition
Listing Agency:
Keller Williams Brazos West · Keller Williams Realty
(817) 279-6996
Listed By:
Carri Tuggle
(817) 441-4000
Added: Jun 19
Changed: Aug 24
Last Checked: Aug 24 at 10:06AM
MLS# 21304275
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial land offering at 315 Hemphill Street includes a 0.353-acre tract with 2,480 square feet of existing improvements. The primary structure dates to 1949 and is built with brick, with carpet and concrete flooring, a composition roof, and an accessible approach with ramp. The property also carries the character of a former schoolhouse that previously housed a local bookstore.
Located in Downtown Fort Worth’s medical and business district, the site is positioned near the city’s medical and commercial hubs. Public water and public sewer serve the property. Existing improvements can remain in place for continued business use, renovation, repurposing, or future redevelopment, subject to applicable approvals.
Located in Downtown Fort Worth’s medical and business district, the site is positioned near the city’s medical and commercial hubs. Public water and public sewer serve the property. Existing improvements can remain in place for continued business use, renovation, repurposing, or future redevelopment, subject to applicable approvals.
Key Highlights
- 0.353‑acre commercial land tract in Downtown Fort Worth
- 2,480 square feet of existing improvements
- Brick structure built in 1949
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$39,862
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$797,240
$797.2K
Cap Rate 7%
$569,457
$569.5K
Cap Rate 9%
$442,911
$442.9K
Market Conditions
NOI Build-Up for 2,480 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.8K $24.12/SF
− Vacancy
−$2.9K −$1.16/SF
EGI
$56.9K $22.96/SF
− OpEx
−$17.1K −$6.89/SF
NOI
$39.9K $16.07/SF
Area
Fort Worth, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$797,240
Cap Rate 7%
$569,457
Cap Rate 9%
$442,911
Alternative Uses
Best Use
Retail
$569.5K
$498.3K – $664.4K
NOI $39,862 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$900.9K
$788.3K – $1.05M
NOI $63,061 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
4,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 76104, TX
21,571
Population
9,605
Households
2.2
Avg Household Size
32
Median Age
21%
College-Educated
74%
High-School Grad
5.9 sq mi
ZIP Area
3,656
Density / Sq Mi
$56,848
Median Household Income
$38,131
Median Earnings
$1,385
Median Rent
$145,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Brick improvements with public water and sewer serve a commercially positioned tract in Fort Worth’s medical and business district.
Where is this commercial land located?
The property is located at 315 Hemphill Street Fort Worth, TX.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 0.353‑acre commercial land tract in Downtown Fort Worth; 2,480 square feet of existing improvements; Brick structure built in 1949
