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Property profile & analytics
OFF-MARKET
Estimated value
$350,000
Auto shops
1004 Merritt St River Oaks, TX 76114-2963
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US83-3784074
Property summary
AI-generated overview
This exceptional redevelopment opportunity presents a 5,400 square foot office building situated on a generous 1.09-acre lot in the highly desirable River Oaks area of Tarrant County, Texas. Located at 1004 Merritt St, zip code 76114, this property boasts a prime commercial location at a four-way traffic light intersection, offering exceptional visibility and accessibility. The building, constructed in 1977, currently functions as an automotive repair shop, but its versatile zoning and strategic location make it ideal for a wide range of uses, including medical offices, creative office spaces, car washes, fast food establishments, retail businesses, or service industries. The property features three road frontages, providing ample access from Merritt Drive, River Oaks Drive, and Red Oak Lane. With its significant lot size and high-traffic location, this property presents a unique chance to acquire a valuable asset in a thriving Texas market. The asking price is $859,000. This is a compelling investment opportunity for those seeking a redevelopment project with significant upside potential. Serious inquiries are encouraged.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1977
Total area
5,400 SF
Lot
1.09 ac (47,437 SF)
APN
38350--B
UPID
US83-3784074
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$350k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$657k
Blend (final)
Blend
$350k
Owner & transaction history
A&i Auto Service LLC · 1 yrs held
A&i Auto Service LLC
since 2025
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs River Oaks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs River Oaks submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$785,000
Current use
RESTAURANT
$755,000
Change: -4% · Conversion: Difficult
OFFICE BUILDING
$700,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$350k
Range $315k – $385k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$65 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$9,099
Tax year 2023
Assessed value
$381,132
Assessed 2024
Previous assessed
$381,132
+0.0% YoY
Effective rate
2.39%
On assessed value
Assessed land
$189,800
Assessed improvement
$191,332
Land market value
$189,800
Improvement market value
$191,332
Total market value
$381,132
Applied tax rate
223.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1977
Heating
NONE
Stories
1
Total area
5,400 SF
Lot
1.09 ac (47,437 SF)
APN
38350--B
UPID
US83-3784074
Jurisdiction
TARRANT
Metro division
FORT WORTH-ARLINGTON, TX METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$785,000
RESTAURANT
Est. value
$755,000
OFFICE BUILDING
Est. value
$700,000
AUTO REPAIR, GARAGE Current
RESTAURANT
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1977
Heating
NONE
Stories
1
Lot
1.09 ac
Current owner
From public records · entity-resolved
A&i Auto Service LLC
Entity
Mailing address
1004 MERRITT ST, RIVER OAKS, TX 76114-2963
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2025
—
A&i Auto Service LLC
Estate Of Asghar Ali Raza Deceased
Deed
$716,000 · Pcb Bank
Sep 6, 2007
—
Ali Ghoncheh
Rap West LLC
Warranty Deed
$215,000 · Rap West LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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