Corner Office Building with
New
For Sale
$274,900
3008 Miller Ave, Fort Worth, TX 76105
MU-1 Low Intensity Mixed-Use zoning supports flexible office-oriented use subject to City of Fort Worth requirements.
Property Size1,399 SF
Price / SF$196.50
Days on Market6
Property Features for 3008 Miller Ave
General Information
Standard status
Active
Size
1,399 SF
Zoning
MU-1 Low Intensity Mixed-Use
Additional Details
Road Access
Yes
Building Details
Year Built
1954
Listing Agency:
Brazos River Realty, LLC
Listed By:
Shayla Dempsey · License #0634458
(817) 910-9195
Source:
Allcitiesusa
Added: Sep 13
Last Checked: Sep 15 at 10:46PM
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 Brazos River Realty, LLC
Investment Insights
Based on property information with market context.
This 1,399-square-foot office property combines a practical main-floor layout with several ancillary spaces. The primary building includes three private offices, six work or flex areas, a reception or living room, kitchen, and full bathroom. A gated breezeway leads to a separate office and second full bathroom that are excluded from the stated square footage, along with a two-car garage. Additional site improvements include a carport, outdoor seating area, and secured access points at the front porch, breezeway, rear door, and windows.
The property occupies the corner of Miller Avenue and Berry Street in Fort Worth, with Dollar General next door and Fiesta across the street. It carries MU-1 Low Intensity Mixed-Use zoning, and a Certificate of Occupancy is in place for the current use. Built in 1954, the property offers a combination of office accommodation, covered parking, storage, and supplemental workspace.
The property occupies the corner of Miller Avenue and Berry Street in Fort Worth, with Dollar General next door and Fiesta across the street. It carries MU-1 Low Intensity Mixed-Use zoning, and a Certificate of Occupancy is in place for the current use. Built in 1954, the property offers a combination of office accommodation, covered parking, storage, and supplemental workspace.
Key Highlights
- 1,399‑square‑foot main building with 3 private offices and 6 work or flex areas
- Separate bonus office and second full bathroom outside the stated square footage
- Two‑car garage, carport, and gated breezeway with outdoor seating
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
$24,395
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
8.87%
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%
$487,900
$487.9K
Cap Rate 7%
$348,500
$348.5K
Cap Rate 9%
$271,056
$271.1K
Market Conditions
NOI Build-Up for 1,399 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
$42.0K $30.00/SF
− Vacancy
−$9.4K −$6.75/SF
EGI
$32.5K $23.25/SF
− OpEx
−$8.1K −$5.81/SF
NOI
$24.4K $17.44/SF
Area
Fort Worth, TX
Vacancy
22.50%
Lease Rate
$30.00 /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%
$487,900
Cap Rate 7%
$348,500
Cap Rate 9%
$271,056
Alternative Uses
Best Use
Office B
$348.5K
$304.9K – $406.6K
NOI $24,395 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$508.2K
$444.7K – $592.9K
NOI $35,574 @ 7.0% cap · market cap 12.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 76105, TX
23,445
Population
7,667
Households
3.1
Avg Household Size
31
Median Age
5%
College-Educated
57%
High-School Grad
5.9 sq mi
ZIP Area
3,974
Density / Sq Mi
$46,482
Median Household Income
$27,987
Median Earnings
$1,172
Median Rent
$117,600
Median Home Value
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Market
Vacancy Rate% for Office in Fort Worth, TX
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Frequently Asked Questions
What type of property is this?
Office building - MU-1 Low Intensity Mixed-Use zoning supports flexible office-oriented use subject to City of Fort Worth requirements.
Where is this office building located?
The property is located at 3008 Miller Ave Fort Worth, TX.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 1,399‑square‑foot main building with 3 private offices and 6 work or flex areas; Separate bonus office and second full bathroom outside the stated square footage; Two‑car garage, carport, and gated breezeway with outdoor seating
