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    Property profile & analytics

    615 Harwood Rd Hurst, TX 76054-3106

    • Medical offices
    • 4,535 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4761921
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • WRKSPC / Office Space Rental Agency / Business Center
    • Little Lilacs Birth Services / Doula / Childbirth Class
    • Foray Travel / Travel Agency
    • Monarch Roofing and Construction / Contractor
    • Structured Renovations / Construction Company

    Property Details for 615 Harwood Rd

    Year built
    1982
    Lot size
    0.42 lot acres
    Property size
    4,535 SF
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    25260-47-A1
    APU
    2526047A1

    Description

    This exceptional 4,535 square foot office building, situated on a 0.42-acre lot at 615 W Harwood in Hurst, TX, presents a compelling investment opportunity. Built in 1982 and strategically located for high visibility with monument signage, the property boasts significant recent upgrades. These improvements encompass a complete HVAC system replacement, a new roof, renovated restrooms and a modern kitchen/breakroom. Interior enhancements include updated flooring, fresh paint, new hardware, and a dedicated IT server room. Exterior improvements include landscaping enhancements, new gutters, and the installation of French drains. The building currently houses a dental practice occupying approximately 1,500 square feet under a multi-year lease, generating consistent rental income. The remaining general office space features a spacious waiting area and ten individual offices, readily available for lease individually or as a combined unit. The main entrance offers a shared common area with renovated restrooms and a digital display board for tenant advertising. Both the dental and general office sections have separate entrances for convenience. Ample parking is provided with 29 spaces. The property's low-maintenance landscaping, featuring mature trees, contributes to its attractive curb appeal. At the time of listing, the property exhibits a 6% capitalization rate, showcasing its strong financial performance. This turnkey investment offers a blend of immediate income and significant potential for future growth.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $325,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $226,000
      Market price range: $226k - $437k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hurst
    County
    Tarrant
    State
    Texas
    Longitude
    -97.1801
    Latitude
    32.8466
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $11,359
    $136,365
    $430,635
    $567,000
    -
    $136,365
    $430,635
    $567,000

    Comparable in this City

    • Value Estimation
      $775,000
      23,794 SF

      750 Mid Cities Blvd

      MEDICAL BUILDING • 23,794 SF
      750 Mid Cities Blvd, Hurst, TX 76054-2792
      View Details
    • Value Estimation
      $735,000
      14,521 SF

      1872 Norwood Dr

      MEDICAL BUILDING • 14,521 SF
      1872 Norwood Dr, Hurst, TX 76054-3066
      View Details
    • Value Estimation
      $480,000
      8,394 SF

      100 Grapevine Hwy

      MEDICAL BUILDING • 8,394 SF
      100 Grapevine Hwy, Hurst, TX 76054-1105
      View Details
    • Value Estimation
      $275,000
      0.45 Acres

      458 Mid Cities Blvd

      DENTAL BUILDING • 0.45 Acres
      458 Mid Cities Blvd, Hurst, TX 76054-2430
      View Details
    • Value Estimation
      $305,000
      0.60 Acres

      6424 Precinct Line Rd

      MEDICAL BUILDING • 0.60 Acres
      6424 Precinct Line Rd, Hurst, TX 76054-2771
      View Details
    • Value Estimation
      $335,000
      4,642 SF

      501 Harwood Rd

      MEDICAL BUILDING • 4,642 SF
      501 Harwood Rd, Hurst, TX 76054-3163
      View Details

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      Hurst Commercial Land - Prime Location

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    Similar Nearby for Lease

    • $24 SF/Yr
      2,544 SF

      Retail, Office, Medical Space Available

      Well-maintained property suitable for retail, office, or medical tenants.
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    • Contact for pricing
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      View Details
    • $24 SF/Yr
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      Versatile Space in Well-Maintained Property

      Adaptable space suitable for retail, office, or medical tenants.
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    • $16 SF/Yr
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      Hurst Office Park: Prime Location

      Modern suites, highway access, move-in ready.
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    • $18 SF/Yr
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      Hurst Medical Office Space for Lease

      Prime Medical Office Building, Hurst, TX
      809 Harwood Rd, Hurst, TX 76054
      View Details
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    Hurst, TX 76054-3106
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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