Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    480 Pkwy St Azle, TX 76020
    Back to Search
    Property profile & analytics

    480 Pkwy St, Azle, TX 76020

    View on Map
    • Retail properties & Spaces
    • 54,292 SF
    • 7.17 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 480 Pkwy St

    Year built
    1998
    Lot size
    7.17 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Grocery and convenience stores

    Description

    This exceptional investment opportunity presents a fee-simple, single-tenant Albertsons grocery store located at 480 NW Pkwy St, Azle, TX 76020. The property boasts 54,292 square feet on a 7.17-acre lot, built in 1998. It features a strong 5.50% cap rate and a pro-forma cap rate of 5.54%, with a pro-forma NOI of $442,804. The property benefits from a long-term NNN lease with a corporate guarantee, expiring June 30, 2039, offering 15.3 years of remaining lease term and three, five-year renewal options, including 7.5% rental increases every five years. The location is prime, situated along a major highway near the DFW MSA, with high visibility and accessibility, seeing over 25,000 vehicles daily at a signalized hard corner intersection. Azle is experiencing significant population growth and boasts a strong local economy, with an average household income within a 5-mile radius of $102,257. The property is surrounded by a robust trade area including national tenants such as Walmart, Walgreens, and numerous restaurants. The nearby Eagle Mountain Lake provides additional recreational draw to the area. Over 30,000 residents live within a 5-mile radius, and 110,000 within 10 miles, ensuring consistent customer traffic. The city's Façade and Signage Improvement Program further enhances the property's appeal. This Albertsons location offers a stable cash flow, long-term growth potential, and an attractive assumable loan for qualified buyers. The asking price is $7,999,999, representing a price per square foot of $147.35. This is a compelling investment opportunity in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Azle
    County
    Tarrant
    State
    Texas
    Longitude
    -97.5445
    Latitude
    32.9021

    Comparable in this City

    • Value Estimation by Request
      54,292 SF

      480 Pkwy St

      Individual retail properties
      480 Pkwy St, Azle, TX 76020
      View Details
    • Value Estimation
      $570,000
      4,916 SF

      161 Industrial Ave

      CONVENIENCE STORE (W/FUEL PUMP)
      161 Industrial Ave, Azle, TX 76020-3134
      View Details
    • Value Estimation by Request
      2,604 SF

      1704 Fm 730th N

      CONVENIENCE STORE (W/FUEL PUMP)
      1704 Fm 730th N, Azle, TX 76020-4472
      View Details
    • Value Estimation by Request
      3,600 SF

      1300 Sandy Bch Rd

      GROCERY, SUPERMARKET
      1300 Sandy Bch Rd, Azle, TX 76020-5332
      View Details
    • Value Estimation by Request
      3,360 SF

      1107 Boyd Rd

      CONVENIENCE STORE (W/FUEL PUMP)
      1107 Boyd Rd, Azle, TX 76020-2519
      View Details
    • Value Estimation by Request
      1.02 Acres

      11660 Fm 730th N

      CONVENIENCE STORE (W/FUEL PUMP)
      11660 Fm 730th N, Azle, TX 76020
      View Details

    Similar Nearby for Sale

    • $1,100,000
      2.30 Acres

      Hard-Corner Development Land

      2.30-acre hard-corner site with Highway 199 frontage, strong visibility, utilities available, and existing building potential.
      501 Red Bud Dr, Azle, TX 76020
      View Details
    • New
      $599,000
      4,500 SF

      Commercial Day Care Facility Opportunity

      Commercial property with FM 730 visibility and a prior licensed day care layout, ready for adaptive retail, medical, or service use.
      11361 Fm 730 N, Reno, TX 76020
      View Details
    • $70,000
      0.27 Acres

      Flexible Land with Garage Structure

      Three combined lots with on-site water and available electricity, plus a garage needing renovation for added value.
      7151 Alcove St, Azle, TX 76020
      View Details
    • New
      $649,000
      1.34 Acres

      Light Commercial Property with Two Buildings

      High-visibility light commercial site with two buildings, strong Highway frontage, and ample parking for owner-users or investors.
      1917 Az, Sanctuary, TX 76020
      View Details
    • Contact for pricing
      4,158 SF

      Azle Commercial Property For Sale

      Commercial property with redevelopment potential in high-traffic Azle location.
      1129 Boyd Rd, Azle, TX 76020
      View Details
    • $1,200,000
      1.16 Acres

      Retail Property for Sale

      Offered for sale on a 1.16-acre lot in Azle, providing room to support a variety of retail concepts.
      12258 S Fm 730, Azle, TX 76020
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,100 SF

      Retail and Office Center

      Retail and office spaces available in Azle's main corridor.
      328 W Main St, Azle, TX 76020
      View Details
    • Contact for pricing
      1,750 SF

      Retail and Office Center Space

      Retail and office center in Azle's main retail corridor.
      316 W Main St, Azle, TX 76020
      View Details
    • Contact for pricing

      Neighborhood Retail Center in Azle

      Two-story retail center with diverse tenant mix near Highway 199.
      100-252 Park Pl, Azle, TX 76020
      View Details
    • $24 SF/Yr
      2,200 SF

      Restaurant-Ready Strip Retail Center

      Prime FM 730 visibility with ample parking and flexible unit sizes, including spaces suited for restaurants.
      13008 S Fm 730, Azle, TX 76020
      View Details
    • Contact for pricing
      9,000 SF

      Retail Units For Lease

      Retail units available for lease in high-traffic area.
      13006 S Fm 730, Azle, TX 76020
      View Details
    • Contact for pricing
      1,268 SF

      Neighborhood Center Retail Space

      Retail space available in Tarrant County neighborhood center.
      100-252 Park Pl, Azle, TX 76020
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    480 Pkwy St
    Azle, TX 76020
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    480 Pkwy St, Azle, TX, 76020
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!