Flexible Office
For Sale
$1,175,000
428 Harwood Rd, Bedford, TX 76021
Flat-roof structure supports reconfiguration into multiple suites.
Property Size5,876 SF
Price / SF$199.97
Days on Market40
Property Features for 428 Harwood Rd
General Information
Standard status
Active
Size
5,876 SF
Site & Location
Corner Location
Yes
Road Access
Yes
Amenities
ample parking
designated dumpster areas
dual points of access
Building Details
Year Built
1984
Buildings
1
Building Size
5,876 SF
Listing Agency:
Chase Realty DFW
(817) 614-6833
Listed By:
Zach Napier · License #0737406
Source:
Heritance
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 12:05PM
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 Chase Realty DFW
Investment Insights
Based on property information with market context.
Built in 1984, this 5,876-square-foot office building offers a flexible configuration for multiple suites or units. Front, side, and rear access points support separate entry patterns, while the absence of load-bearing interior walls allows the layout to be opened or divided as requirements change. The property also includes designated dumpster areas and parking.
Positioned at the corner of Harwood Rd and Northridge Dr, the property benefits from multiple access points and direct exposure along the intersection. It is located within the HEB corridor, with access to Downtown Fort Worth and DFW Airport. The flat roof and adaptable interior provide a practical base for office occupancy or future reconfiguration.
Positioned at the corner of Harwood Rd and Northridge Dr, the property benefits from multiple access points and direct exposure along the intersection. It is located within the HEB corridor, with access to Downtown Fort Worth and DFW Airport. The flat roof and adaptable interior provide a practical base for office occupancy or future reconfiguration.
Key Highlights
- 5,876 SF office building built in 1984
- Located at Harwood Rd and Northridge Dr
- No load‑bearing interior walls support flexible reconfiguration
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
$101,537
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
8.64%
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%
$2,030,740
$2.0M
Cap Rate 7%
$1,450,529
$1.5M
Cap Rate 9%
$1,128,189
$1.1M
Market Conditions
NOI Build-Up for 5,876 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
$180.5K $30.72/SF
− Vacancy
−$45.1K −$7.68/SF
EGI
$135.4K $23.04/SF
− OpEx
−$33.8K −$5.76/SF
NOI
$101.5K $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 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%
$2,030,740
Cap Rate 7%
$1,450,529
Cap Rate 9%
$1,128,189
Alternative Uses
Best Use
Office B
$1.45M
$1.27M – $1.69M
NOI $101,537 @ 7.0% cap · market cap 8.64%
Second Best
Retail
$1.39M
$1.22M – $1.63M
NOI $97,532 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,691 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
596
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flat-roof structure supports reconfiguration into multiple suites.
Where is this office building located?
The property is located at 428 Harwood Rd Bedford, TX.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: 5,876 SF office building built in 1984; Located at Harwood Rd and Northridge Dr; No load‑bearing interior walls support flexible reconfiguration
