Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1421-1423 Grand Ave Fort Worth, TX 76164
    Back to Search
    Property profile & analytics

    1421-1423 Grand Ave, Fort Worth, TX 76164

    View on Map
    • Apartment buildings
    • 7,300 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1421-1423 Grand Ave

    Property type
    Apartment buildings

    Description

    This exceptional 10-unit apartment building presents a compelling investment opportunity in the thriving Fort Worth, Texas market. Located at 1421-1423 Grand Ave, 76164, in Tarrant County, this property boasts 7,300 square feet and is priced at $1,075,000, offering a strong 6.92% cap rate. Situated within the Dallas-Fort Worth metroplex, the property benefits from proximity to numerous attractions including the Historic Stockyards, Trinity Trails, Fort Worth Museum of Science & History, and Fort Worth Botanic Garden. Recent area developments, such as the new Hotel Drover, further enhance its investment potential. The building features upgraded electrical boxes and meters, and all units include tile or laminate flooring. One unit already has washer/dryer connections, with additional space in one and two-bedroom units to add these amenities. The roof was replaced in 2022, and a vacant garage offers additional possibilities. Significant value-add potential exists through the addition of mini-splits to increase rental income. Utilities are efficiently managed with water, sewage, and gas master-metered, while electricity is individually metered. Apartment amenities include high-speed internet access, air conditioning and heating, ceiling fans, cable readiness, and kitchen appliances (microwave, refrigerator, and freezer). Walk-in closets are also featured. This property represents a strong value-add opportunity in a prime location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fort Worth
    County
    Tarrant
    State
    Texas
    Longitude
    -97.3594
    Latitude
    32.7714

    Comparable in this City

    • Value Estimation
      $735,000
      95,446 SF

      401 Main St

      HIGH-RISE APARTMENTS
      401 Main St, Fort Worth, TX 76164-9523
      View Details
    • Value Estimation
      $1,140,000
      352,131 SF

      447 Main St

      HIGH-RISE APARTMENTS
      447 Main St, Fort Worth, TX 76164-9501
      View Details
    • Value Estimation by Request
      0.17 Acres

      1013 Houston St

      VACANT COMMERCIAL LAND
      1013 Houston St, Fort Worth, TX 76164-9318
      View Details
    • Value Estimation by Request
      0.17 Acres

      1017 Houston St

      VACANT COMMERCIAL LAND
      1017 Houston St, Fort Worth, TX 76164-9318
      View Details
    • Value Estimation by Request
      0.08 Acres

      1311 Jones St

      VACANT COMMERCIAL LAND
      1311 Jones St, Fort Worth, TX 76164-9229
      View Details
    • Value Estimation by Request
      0.20 Acres

      2000 Belle Ave

      VACANT COMMERCIAL LAND
      2000 Belle Ave, Fort Worth, TX 76164-7616
      View Details

    Similar Nearby for Sale

    • New
      $375,000
      0.30 Acres

      Updated Craftsman Duplex with Two Units

      Two fully independent units in an updated 1920s duplex offer flexible owner-occupant or rental-income possibilities.
      1301 Grand Ave, Fort Worth, TX 76164
      View Details
    • $275,000
      0.13 Acres

      Duplex with Office and Storage

      A duplex near the Stockyards with strong income potential and a larger left unit featuring an office and storage spaces.
      1209 15Th Pl, Fort Worth, TX 76164
      View Details
    • $275,000
      2,037 SF

      Duplex Near Stockyards with Income

      Duplex near Stockyards with income potential.
      1209 15Th Pl, Fort Worth, TX 76164
      View Details
    • Contact for pricing

      Land For Sale Fort Worth

      Land available in Fort Worth, Texas.
      2621 Lincoln Ave, Fort Worth, TX 76164
      View Details
    • Contact for pricing

      Fort Worth Land For Sale

      0.36 acres of land available in Fort Worth, Texas.
      2605 Clinton Ave, Fort Worth, TX 76164
      View Details
    • $150,000
      0.16 Acres

      Fort Worth Vacant Corner Lot

      Vacant lot near Stockyards, utilities available, prime development location.
      2100 Columbus Ave, Fort Worth, TX 76164
      View Details

    Similar Nearby for Lease

    • $26 SF/Yr
      41,911 SF

      The Vinnedge Building: Fort Worth Office

      Historic Fort Worth Office Space Available
      2100 Main St, Fort Worth, TX 76164
      View Details
    • Contact for pricing

      Stockyards Retail Space Available

      Large retail space in the Stockyards, suitable for various uses.
      232 NE 28Th St, Fort Worth, TX 76164
      View Details
    • Contact for pricing
      10,368 SF

      Turnkey Primary Care Clinic Space

      Second-generation primary care clinic available for immediate occupancy.
      1950 Ephriham Ave, Fort Worth, TX 76164
      View Details
    • Contact for pricing

      Medical Offices Near Fort Worth

      Multi-tenant medical offices near the Stockyards, Fort Worth.
      910 W Northside Dr, Fort Worth, TX 76164
      View Details
    • Contact for pricing
      4,250 SF

      Stockyards Retail Building For Lease

      4,250 SF retail building in the historic Fort Worth Stockyards.
      2225 N Main St, Fort Worth, TX 76164
      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.
    1421-1423 Grand Ave
    Fort Worth, TX 76164
    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
    1421-1423 Grand Ave, Fort Worth, TX, 76164
    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!