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Property profile & analytics
FOR LEASE
Office buildings
1235 S Main St Grapevine, TX 76051
Entity Owned
7-yr Hold
Free & Clear
Property ID
US82-0235479
For Lease
$1,010,000
1235 S Main St, Grapevine, TX 76051
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2000
Total area
17,332 SF
Lot
1.03 ac (44,649 SF)
APN
6329H-1-1A
UPID
US82-0235479
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
Current use
Occupant on record · Public records
-
Bridge Information Technology (Bike/Boat/Book/etc) Store Corporate Office
-
Original Westwood Plaza Apartments Apartment Building
-
Texas State Senate State Government Office District Office
-
Sam Elder, NMLS: 480350, First United Bank Loan Service Bank
-
First United Mortgage Group Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.01M
Owner & transaction history
Nnys Investment LLC · 7 yrs held
Nnys Investment LLC
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.5M
+19.9%
Commercial (general)
$1.5M
+18.5%
Restaurant
$1.4M
+12.1%
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 Grapevine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grapevine 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,245,000
Current use
RETAIL STORES
$1,495,000
Change: +20% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,475,000
Change: +19% · Conversion: Easy
RESTAURANT
$1,395,000
Change: +12% · Conversion: Moderate
MEDICAL BUILDING
$1,270,000
Change: +2% · Conversion: Easy
Blend value · Realmo final
$1.01M
Range $909k – $1.11M · ±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
$58 / 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
$57,615
Tax year 2023
Assessed value
$3,753,000
Assessed 2024
Previous assessed
$3,436,775
+9.2% YoY
Effective rate
1.54%
On assessed value
Assessed land
$580,437
Assessed improvement
$3,172,563
Land market value
$580,437
Improvement market value
$3,172,563
Total market value
$3,753,000
Applied tax rate
224.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2000
Heating
NONE
Stories
2
Total area
17,332 SF
Lot
1.03 ac (44,649 SF)
APN
6329H-1-1A
UPID
US82-0235479
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
OFFICE BUILDING Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.5M
COMMERCIAL (GENERAL)
Est. value
$1.5M
RESTAURANT
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.3M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL 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
2000
Heating
NONE
Stories
2
Lot
1.03 ac
Current owner
From public records · entity-resolved
Nnys Investment LLC
Entity
Free & Clear · 7 yrs held
Mailing address
1235 S MAIN ST, GRAPEVINE, TX 76051-7544
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 14, 2019
—
Nnys Investment LLC
Pensa Texas LLC
Grant Deed
related
—
Sep 22, 2014
—
Pensa Texas LLC
Gcc Project Owner LLC
Trustees Deed
$5,475,000 · Bank Of America
Sep 18, 2012
—
Gcc Project Owner LLC
Cre Lj Tx LLC
Grant Deed
—
Nov 1, 2011
—
Cre Lj Tx LLC
Todd,ashley D
Trustees Deed
related
—
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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