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    602-754 Grapevine Hwy Hurst, TX 76054

    • Retail properties
    • 230,778 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 602-754 Grapevine Hwy

    Property size
    230,778 SF
    Property type
    Retail properties

    Description

    Mayfair Village, located at 602-754 Grapevine Hwy in Hurst, Texas (zip code 76054), offers a prime retail opportunity in Tarrant County. This multi-tenant retail center boasts a total of 230,778 square feet of space. Currently, there are several spaces available, ranging from a minimum of 2,429 square feet to a maximum contiguous space of 6,971 square feet. A total of 12,245 square feet is currently vacant and ready for immediate occupancy. The property's strategic location in Hurst provides excellent visibility and accessibility for businesses seeking a thriving retail environment. The address is easily accessible from Grapevine Highway, ensuring high traffic volume and exposure to potential customers. This is an exceptional opportunity for businesses seeking flexible space options within a well-established retail center. The property is ideal for a variety of retail uses, offering a chance to establish a strong presence in a dynamic and growing market. Interested parties are encouraged to inquire about available space and lease terms. The property is situated at latitude 32.8626492 and longitude -97.1784486.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hurst
    County
    Tarrant
    State
    Texas
    Longitude
    -97.1785
    Latitude
    32.8626

    Comparable in this City

    • Value Estimation by Request
      157,954 SF

      103-217 Harwood Rd

      Day care centers • 157,954 SF
      103-217 Harwood Rd, Hurst, TX 76054
      View Details
    • Value Estimation by Request
      18,000 SF

      1804-1836 Precinct Line Rd

      Strip malls • 18,000 SF
      1804-1836 Precinct Line Rd, Hurst, TX 76054
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    • Value Estimation by Request
      6,950 SF

      300-304 Grapevine Hwy

      Neighborhood centers • 6,950 SF
      300-304 Grapevine Hwy, Hurst, TX 76054
      View Details
    • Value Estimation by Request
      827 SF

      2250 Precinct Line Rd

      Restaurants • 827 SF
      2250 Precinct Line Rd, Hurst, TX 76054
      View Details
    • Value Estimation
      $505,000
      7,931 SF

      1616 Precinct Line Rd

      RETAIL STORES (PERSONAL SERVICES) • 7,931 SF
      1616 Precinct Line Rd, Hurst, TX 76054-3339
      View Details
    • Value Estimation
      $570,000
      18,000 SF

      1836 Precinct Line Rd

      SHOPPING CENTER, STRIP CENTER • 18,000 SF
      1836 Precinct Line Rd, Hurst, TX 76054
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      157,954 SF

      Parkwood Village Retail Center

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      230,778 SF

      Mayfair Village Retail Center

      Hurst, TX: Retail space available.
      602-754 Grapevine Hwy, Hurst, TX 76054
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      2,174 SF

      Retail Space on Grapevine Highway

      Retail space with high visibility and traffic in Hurst, TX.
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      Retail Space on Grapevine Highway

      Retail space with high visibility and traffic in Hurst, TX.
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      4,000 SF

      Retail Space For Lease

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      Village Plaza Retail Center in Hurst, TX

      Prime Hurst retail space, multiple units available.
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    Hurst, TX 76054
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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.

    More about this property
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