Commercial Property with Event Center
For Sale
Contact for pricing
1900 Evans Ave, Fort Worth, TX 76104
Versatile commercial property with event center plans and investment potential.
Property Size8,000 SF
Price / SF$237.50
Days on Market190
Property Features for 1900 Evans Ave
General Information
Standard status
Active
Size
8,000 SF
Class
D
Property subtype
Retail
Zoning
C- Commercial
Lease Type
NNN
Building Details
Year Built
1955
Listing Agency:
Perla Realty Group LLC
(817) 703-5557
Listed By:
Orlando Fernandez · License #593255-B
Source:
Crexi
Added: Feb 14
Changed: Aug 14
Last Checked: Aug 14 at 7:24AM
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 Perla Realty Group LLC
Investment Insights
Based on property information with market context.
This commercial property offers significant investment potential. Plans for an event center are available, with some construction already initiated but not completed. The property could be divided into four 2,000-square-foot units or leased as a whole. Ideal uses include a restaurant or a convenience store. Permitted uses include a day care center (child or adult), event center or rental hall, restaurant, café, cafeteria, offices, antique shop, bakery, barber or beauty shop, convenience store, and laundry, dry cleaning, or washeteria. Plans for an event center are available upon request. The property size is 8,000 square feet.
Key Highlights
- High potential investment property with flexible usage options.
- Divisible into four 2,000 sqft units for multiple tenants or uses.
- Permitted uses include restaurant, convenience store, daycare, event center, and retail.
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
$128,589
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
6.77%
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%
$2,571,780
$2.6M
Cap Rate 7%
$1,836,986
$1.8M
Cap Rate 9%
$1,428,767
$1.4M
Market Conditions
NOI Build-Up for 8,000 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
$193.0K $24.12/SF
− Vacancy
−$9.3K −$1.16/SF
EGI
$183.7K $22.96/SF
− OpEx
−$55.1K −$6.89/SF
NOI
$128.6K $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%
$2,571,780
Cap Rate 7%
$1,836,986
Cap Rate 9%
$1,428,767
Alternative Uses
Best Use
Retail
$1.84M
$1.61M – $2.14M
NOI $128,589 @ 7.0% cap · market cap 6.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.91M
$2.54M – $3.39M
NOI $203,424 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,470
Businesses Nearby
Explore this area
Business Placement
Demographics for 76104, TX
21,571
Population
9,605
Households
2.2
Avg Household Size
32
Median Age
21%
College-Educated
74%
High-School Grad
5.9 sq mi
ZIP Area
3,656
Density / Sq Mi
$56,848
Median Household Income
$38,131
Median Earnings
$1,385
Median Rent
$145,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Versatile commercial property with event center plans and investment potential.
Where is this retail space located?
The property is located at 1900 Evans Ave Fort Worth, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: High potential investment property with flexible usage options.; Divisible into four 2,000 sqft units for multiple tenants or uses.; Permitted uses include restaurant, convenience store, daycare, event center, and retail.
