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Property profile & analytics
OFF-MARKET
Estimated value
$715,000
Strip malls
1617 Park Pl Ave Fort Worth, TX 76110-1380
Entity Owned
2-yr Hold
Free & Clear
Property ID
US83-2907515
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1938
Total area
12,880 SF
Lot
0.89 ac (38,594 SF)
APN
12790----4----1B--20
UPID
US83-2907515
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
-
M & B Tax Pro's Tax Preparation
-
Ensemble Coworking Coworking & Hybrid Office
-
Bighorn General Contractors Construction Company General Contractor
-
Superhero Studios (Bike/Boat/Book/etc) Store Corporate Office
-
Chisholm Construction Group Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$485k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$943k
Blend (final)
Blend
$715k
Owner & transaction history
Makasyn Real Prop LLC A Series Ll C · 2 yrs held
Makasyn Real Prop LLC A Series Ll C
since 2024
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+45.8%
Warehouse, storage
$810,000
+4.3%
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 Fort Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Worth 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
$485,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$775,000
Current use
MEDICAL BUILDING
$1,130,000
Change: +46% · Conversion: Difficult
WAREHOUSE, STORAGE
$810,000
Change: +4% · Conversion: Difficult
Blend value · Realmo final
$715k
Range $644k – $787k · ±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
$56 / 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
$30,487
Tax year 2023
Assessed value
$1,681,680
Assessed 2024
Previous assessed
$1,347,309
+24.8% YoY
Effective rate
1.81%
On assessed value
Assessed land
$154,392
Assessed improvement
$1,527,288
Land market value
$154,392
Improvement market value
$1,527,288
Total market value
$1,681,680
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1938
Heating
NONE
Stories
1
Total area
12,880 SF
Lot
0.89 ac (38,594 SF)
APN
12790----4----1B--20
UPID
US83-2907515
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$775,000
MEDICAL BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$810,000
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
1938
Heating
NONE
Stories
1
Lot
0.89 ac
Current owner
From public records · entity-resolved
Makasyn Real Prop LLC A Series Ll C
Entity
Free & Clear · 2 yrs held
Mailing address
1617 PARK PL AVE STE #110, FORT WORTH, TX 76110-1300
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 25, 2024
—
Makasyn Real Prop LLC A Series Ll C
Pat Spence
Warranty Deed
—
Dec 21, 2023
—
1617 Park Place LLC
John E Quarles Co
Special Warranty Deed
—
Jul 31, 2020
—
John E Quarles Co
—
Deed
related
$223,651 · Frost Bk
Nov 3, 2000
—
John E Quarles Co
Park Forest Joint Venture
Grant Deed
$549,000 · Frost National Bank
—
—
John E Quarles Co
—
Deed Of Trust
related
$195,370 · Frost National Bank
—
—
John E Quarles Co
—
Loan Modification
related
$384,764 · Frost Bk
—
—
John E Quarles Co
—
Loan Modification
related
$223,651 · Frost Bk
—
—
John E Quarles Co
—
Deed Of Trust
related
$210,368 · Frost National Bank
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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