Versatile Commercial Property in North
For Sale
$950,000
6716 Smithfield Road, North Richland Hills, TX 76182
Two buildings totaling 5034 SF in high-visibility North Richland
Property Size5,034 SF
Lot Size0.75 Acres
Price / SF$188.72
Days on Market886
Property Features for 6716 Smithfield Road
General Information
Standard status
Active
Size
5,034 SF
Lot size
0.75 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$4,601
Building Details
Year Built
1984
Listing Agency:
The Property Shop
(817) 726-2147
Listed By:
Crissy Robinson · License #0585684
(817) 726-2147
Source:
Exitrealty
Added: Mar 9, 2024
Changed: Aug 9
Last Checked: Aug 9 at 7:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Property Shop
Investment Insights
Based on property information with market context.
This commercial property, situated in North Richland Hills, features a total of 5034 square feet across two separate buildings. The property is currently accommodating two renters. The main building offers a spacious layout suitable for various business setups. The second building, located at 6714 Smithfield Rd, provides additional potential for business ventures, storage, or expansion. The property benefits from high visibility in a bustling area, offering excellent exposure to potential customers. It is suitable for a variety of uses, including retail, office space, or professional services. The property presents an opportunity to own a versatile commercial space.
Key Highlights
- High‑visibility location in a bustling area of North Richland Hills.
- Versatile commercial property suitable for retail, office, salon, or professional services.
- Total of 5034 square feet across two separate buildings.
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
$86,988
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
9.16%
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%
$1,739,760
$1.7M
Cap Rate 7%
$1,242,686
$1.2M
Cap Rate 9%
$966,533
$966.5K
Market Conditions
NOI Build-Up for 5,034 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
$154.6K $30.72/SF
− Vacancy
−$38.7K −$7.68/SF
EGI
$116.0K $23.04/SF
− OpEx
−$29.0K −$5.76/SF
NOI
$87.0K $17.28/SF
Area
Tarrant County, TX
Vacancy
25.00%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$1,739,760
Cap Rate 7%
$1,242,686
Cap Rate 9%
$966,533
Alternative Uses
Best Use
Office B
$1.24M
$1.09M – $1.45M
NOI $86,988 @ 7.0% cap · market cap 9.16%
Second Best
Retail
$1.19M
$1.04M – $1.39M
NOI $83,556 @ 7.0% cap · market cap 8.80%
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $123,957 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
412
Businesses Nearby
Explore this area
Business Placement
Demographics for 76182, TX
31,117
Population
11,845
Households
2.6
Avg Household Size
43
Median Age
40%
College-Educated
95%
High-School Grad
8.7 sq mi
ZIP Area
3,577
Density / Sq Mi
$119,722
Median Household Income
$60,589
Median Earnings
$1,821
Median Rent
$364,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Two buildings totaling 5034 SF in high-visibility North Richland
Where is this retail space located?
The property is located at 6716 Smithfield Road North Richland Hills, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: High‑visibility location in a bustling area of North Richland Hills.; Versatile commercial property suitable for retail, office, salon, or professional services.; Total of 5034 square feet across two separate buildings.
