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    Fort Worth Multi-Tenant Industrial Asset Title is generated by Realmo AI

    5172 LEMONS RD, Fort Worth, TX 76140

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    33,750 SF multi-tenant industrial asset with value-add opportunity.

    Type:Industrial
    Property size:
    33,750 SF
    Price / SF:
    $114/SF
    Added:
    May 18, 2026
    Days on Market:
    14
    Last Refresh:
    May 27 at 8:14 am

    Property Features for 5172 LEMONS RD

    General Information

    Standard status
    Active
    Size
    33,750 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    2018

    We can help!

    Listing Contact
    Ty Underwood
    Ty Underwood

    Listing agent Ty Underwood License #TX 419172

    Listing office SLJ Company

    Listing date May 18, 2026

    Source Crexi

    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 SLJ Company

    HighLights

    • Significant rental upside with current rents at $6.88/SF NNN compared to market comps of $10–$11/SF NNN.
    • Located in a strong small‑bay industrial market with high occupancy (95.1%) and projected rent growth (3.28% annually through 2030).
    • Strategic location less than four miles from I‑35W, providing excellent regional connectivity.
    • Features industrial outside storage (IOS), a highly desirable amenity.
    • Constructed in 2018, the property offers functional small‑bay spaces with 16'-18' clear heights and efficient warehouse finish‑out.
    • Strong surrounding demographics with high average household incomes (exceeding $136,300) and median home values (above $336,900) within a one‑mile radius.

    Overview

    The Lemons Road Industrial Park is a 33,750-square-foot multi-tenant industrial asset located at 5160–5172 Lemons Rd. in Fort Worth, Texas. Constructed primarily in 2018, it features functional small-bay product with mostly 16'–18' clear heights and an efficient 5% office / 95% warehouse finish-out. The average suite size is approximately 3,068 square feet. The property benefits from industrial outside storage. It is strategically positioned less than four miles east of I-35W and within minutes of Burleson, Mansfield, Arlington, Everman, and Kennedale, providing excellent regional connectivity. The surrounding area has strong demographics, including average household incomes exceeding $136,300 and median home values above $336,900 within a one-mile radius. The property is currently leased at average in-place rents of $6.88/SF NNN, which is a discount to market rental comps of approximately $10–$11/SF NNN. With a WALT of less than 19 months, investors are positioned to mark rents to market in the near term and drive NOI growth. Submarket fundamentals include flex occupancy averaging 95.1% and projected annual rent growth of 3.28% through 2030.

    Local Financial Insights For Flex RnD

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $465.8k $13.80
    − Vacancy −$44.2k −$1.31
    EGI $421.5k $12.49
    − OpEx −$147.5k −$4.37
    NOI $274.0k $8.12
    33,750 SF · lease $13.80/SF/yr · vacancy 9.50% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $3.91M
    $3.42M – $4.57M (±1% cap)
    NOI $273,977 @ 7.0% cap · market cap 7.12%
    Second Best
    Industrial
    $3.04M
    $2.66M – $3.55M (±1% cap)
    NOI $212,951 @ 7.0% cap · market cap 5.53%
    Theoretical Best
    Office A
    $12.26M
    $10.73M – $14.30M (±1% cap)
    NOI $858,195 @ 7.0% cap · market cap 22.29%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Netro Auto Sales ... Car Dealership

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Branded by D BBQ — 5166 FM1187 Ste106, Burleson, TX 76028

    Location Insight

    • Map
    • Local Demand
    City
    Fort Worth
    County
    Tarrant
    State
    Texas
    Longitude
    -97.2505093
    Latitude
    32.5834364

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    FAQs

    What type of property is this?
    Flex space - 33,750 SF multi-tenant industrial asset with value-add opportunity.
    Where is this flex space located?
    The property is located at 5172 LEMONS RD Fort Worth, TX.
    What is the asking price?
    The asking price for this property is $3,850,000.
    What are key features of this property?
    This property features: Significant rental upside with current rents at $6.88/SF NNN compared to market comps of $10–$11/SF NNN.; Located in a strong small‑bay industrial market with high occupancy (95.1%) and projected rent growth (3.28% annually through 2030).; Strategic location less than four miles from I‑35W, providing excellent regional connectivity.
    (214) 520-8818 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ty Underwood
    Ty Underwood
    Real Estate License ID: TX 419172
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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