Renovated Flex
For Sale
$900,000
5115 Wellview Avenue, Fort Worth, TX 76115
Updated commercial building with kitchen facilities, offices, storage areas, a stage, and multiple restrooms.
Property Size4,555 SF
Price / SF$197.59
Days on Market11
Property Features for 5115 Wellview Avenue
General Information
Standard status
Active
Size
4,555 SF
Total Parking Spaces
80
Property subtype
Retail
Amenities
kitchen
office
extra rooms
elevated stage
bathrooms
Building Details
Year Built
1962
Year Renovated
2020
Listing Agency:
Rendon Realty, LLC
(817) 592-3008
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Aug 2
Changed: Aug 12
Last Checked: Aug 12 at 6:46AM
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 Rendon Realty, LLC
Investment Insights
Based on property information with market context.
This 4,555-square-foot flex property was built in 1962 and underwent a comprehensive renovation in 2020. Improvements included a new roof, electrical system, plumbing, AC unit, and flooring. The interior includes a kitchen with three sinks, an office, two additional rooms suited for storage or office use, a small elevated stage, three men’s bathrooms, three women’s bathrooms, and an additional restroom near the kitchen.
The property formerly operated as a liquor store and is currently being used for retail and multiple-item service operations. On-site parking accommodates up to 80 vehicles. Located on Wellview Avenue in Fort Worth, the building is described as being near major highways and busy streets, with a layout that can support retail, service, venue, office, or storage functions as permitted.
The property formerly operated as a liquor store and is currently being used for retail and multiple-item service operations. On-site parking accommodates up to 80 vehicles. Located on Wellview Avenue in Fort Worth, the building is described as being near major highways and busy streets, with a layout that can support retail, service, venue, office, or storage functions as permitted.
Key Highlights
- 4,555 SF flex property built in 1962
- Comprehensively renovated in 2020
- New roof, electrical, plumbing, AC unit, and flooring installed
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
$73,215
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
8.14%
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%
$1,464,300
$1.5M
Cap Rate 7%
$1,045,929
$1.0M
Cap Rate 9%
$813,500
$813.5K
Market Conditions
NOI Build-Up for 4,555 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
$109.9K $24.12/SF
− Vacancy
−$5.3K −$1.16/SF
EGI
$104.6K $22.96/SF
− OpEx
−$31.4K −$6.89/SF
NOI
$73.2K $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%
$1,464,300
Cap Rate 7%
$1,045,929
Cap Rate 9%
$813,500
Alternative Uses
Best Use
Retail
$1.05M
$915.2K – $1.22M
NOI $73,215 @ 7.0% cap · market cap 8.14%
Second Best
Flex RnD
$528.2K
$462.2K – $616.3K
NOI $36,977 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$1.65M
$1.45M – $1.93M
NOI $115,825 @ 7.0% cap · market cap 12.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76115, TX
20,956
Population
6,706
Households
3.1
Avg Household Size
29
Median Age
17%
College-Educated
53%
High-School Grad
4.6 sq mi
ZIP Area
4,556
Density / Sq Mi
$51,823
Median Household Income
$29,868
Median Earnings
$1,177
Median Rent
$132,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial building with kitchen facilities, offices, storage areas, a stage, and multiple restrooms.
Where is this flex space located?
The property is located at 5115 Wellview Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,555 SF flex property built in 1962; Comprehensively renovated in 2020; New roof, electrical, plumbing, AC unit, and flooring installed
