Corner Convenience Store
For Sale
$275,000
1813 Portland Avenue, Fort Worth, TX 76102
Corner lot retail building formerly used as a convenience store, offering potential for an owner-operator.
Property Size1,404 SF
Price / SF$195.87
Days on Market66
Property Features for 1813 Portland Avenue
General Information
Standard status
Active
Size
1,404 SF
Property subtype
Business
Building Details
Year Built
1951
Listing Agency:
First Texas Realty
(817) 797-7123
Listed By:
Du Phan · License #0470257
Source:
Lonestarluxuryrealty
Added: Jul 4
Changed: Sep 6
Last Checked: Sep 6 at 7:14AM
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 First Texas Realty
Investment Insights
Based on property information with market context.
This corner lot retail building was previously used as a convenience store. The property is being offered for sale and includes the existing site improvements associated with a single commercial structure.
The building is located at 1813 Portland Avenue in Fort Worth, Texas. The corner configuration can support street-facing visibility for neighborhood-oriented retail use.
With its convenience store history and corner-lot setup, the property may appeal to an owner-operator looking for a straightforward retail footprint.
The building is located at 1813 Portland Avenue in Fort Worth, Texas. The corner configuration can support street-facing visibility for neighborhood-oriented retail use.
With its convenience store history and corner-lot setup, the property may appeal to an owner-operator looking for a straightforward retail footprint.
Key Highlights
- Corner lot retail building formerly used as a convenience store
- Built in 1951
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
$24,179
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
8.79%
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%
$483,580
$483.6K
Cap Rate 7%
$345,414
$345.4K
Cap Rate 9%
$268,656
$268.7K
Market Conditions
NOI Build-Up for 1,404 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
$33.9K $24.12/SF
− Vacancy
−$1.6K −$1.16/SF
EGI
$32.2K $22.96/SF
− OpEx
−$8.1K −$5.74/SF
NOI
$24.2K $17.22/SF
Area
Fort Worth, TX
Vacancy
4.80%
Lease Rate
$24.12 /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%
$483,580
Cap Rate 7%
$345,414
Cap Rate 9%
$268,656
Alternative Uses
Best Use
Specialty Retail
$345.4K
$302.2K – $403.0K
NOI $24,179 @ 7.0% cap · market cap 8.79%
Second Best
Retail
$322.4K
$282.1K – $376.1K
NOI $22,567 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$510.0K
$446.3K – $595.0K
NOI $35,701 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
197
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76102, TX
13,236
Population
5,629
Households
2.4
Avg Household Size
36
Median Age
37%
College-Educated
86%
High-School Grad
4.5 sq mi
ZIP Area
2,941
Density / Sq Mi
$74,293
Median Household Income
$49,295
Median Earnings
$1,661
Median Rent
$338,700
Median Home Value
Market
Vacancy Rate% for Retail 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?
Grocery and convenience store - Corner lot retail building formerly used as a convenience store, offering potential for an owner-operator.
Where is this grocery and convenience store located?
The property is located at 1813 Portland Avenue Fort Worth, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Corner lot retail building formerly used as a convenience store; Built in 1951
