Building Details

Year Built 1951

Listing Agency: First Texas Realty d***@yahoo.com Show Phone

Listed By: Du Phan · License #0470257

Source: Lonestarluxuryrealty

Added: Jul 4 Changed: Oct 3 Last Checked: Oct 20 at 9:26PM

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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.

Key Highlights

• Corner lot retail building formerly used as a convenience store
• Built in 1951

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$24,179

Cap Rate

8.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$483,580 $483.6K

Cap Rate 7%

$345,414 $345.4K

Cap Rate 9%

$268,656 $268.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,404 SF

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 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 (±1% cap)

NOI $24,179 @ 7.0% cap · market cap 8.79%

Second Best

Retail

$322.4K

$282.1K – $376.1K (±1% cap)

NOI $22,567 @ 7.0% cap · market cap 8.21%

Theoretical Best

Office A

$510.0K

$446.3K – $595.0K (±1% cap)

NOI $35,701 @ 7.0% cap · market cap 12.98%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Greenway Convenience Store Grocery & Convenience Store

Suggested Use

Top Pick Dental Office Building Supply Real Estate Agency Garden Center Auto Parts Store Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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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