Office Building with Covered
For Sale
$7,400,000
1924 Forest Ridge Dr, Bedford, TX 76021
Office property featuring a covered drop-off, green space, abundant parking, and access to nearby hospitals.
Property Size20,313 SF
Days on Market84
Property Features for 1924 Forest Ridge Dr
General Information
Standard status
Active
Size
20,313 SF
Class
B
Property subtype
Office - Medical Office
Additional Details
Highway Access
Yes
Amenities
green space
covered drop-off
Building Details
Building Size
20,313 SF
Year Built
2006
Listing Agency:
Advisors Commercial Real Estate
Listed By:
Steve Gray
(817) 907-9694
Source:
Commercialcafe
Added: Jul 25
Changed: Oct 8
Last Checked: Oct 16 at 6:15AM
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 Advisors Commercial Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 1924 Forest Ridge Dr in Bedford, the property is a 4,055-square-foot office building with large block space, a covered drop-off, green space, and abundant parking.
The property offers highway access and is near several hospitals, adding convenient connectivity and proximity to established medical facilities.
The property offers highway access and is near several hospitals, adding convenient connectivity and proximity to established medical facilities.
Key Highlights
- 4,055‑square‑foot office building at 1924 Forest Ridge Dr
- Large block office space
- Covered drop‑off
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$351,009
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,020,180
$7.0M
Cap Rate 7%
$5,014,414
$5.0M
Cap Rate 9%
$3,900,100
$3.9M
Market Conditions
NOI Build-Up for 20,313 SF
Gross rent
$624.0K $30.72/SF
− Vacancy
−$156.0K −$7.68/SF
EGI
$468.0K $23.04/SF
− OpEx
−$117.0K −$5.76/SF
NOI
$351.0K $17.28/SF
Area
Tarrant County, TX
Vacancy
25.00%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,020,180
Cap Rate 7%
$5,014,414
Cap Rate 9%
$3,900,100
Alternative Uses
Best Use
Office B
$5.01M
$4.39M – $5.85M
NOI $351,009 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.15M
$6.25M – $8.34M
NOI $500,187 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 76021, TX
35,265
Population
15,410
Households
2.3
Avg Household Size
42
Median Age
45%
College-Educated
94%
High-School Grad
7.3 sq mi
ZIP Area
4,831
Density / Sq Mi
$84,745
Median Household Income
$48,368
Median Earnings
$1,432
Median Rent
$349,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Office property featuring a covered drop-off, green space, abundant parking, and access to nearby hospitals.
Where is this office building located?
The property is located at 1924 Forest Ridge Dr Bedford, TX.
What is the asking price?
The asking price for this property is $7,400,000.
What are key features of this property?
This property features: 4,055‑square‑foot office building at 1924 Forest Ridge Dr; Large block office space; Covered drop‑off
