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Property profile & analytics
OFF-MARKET
Estimated value
$725,000
Sports & entertainment properties
2040 Enchanted Way Grapevine, TX 76051-0999
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US83-0664725
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
2015
Total area
13,045 SF
Lot
6.11 ac (266,239 SF)
APN
45146-1-1
UPID
US83-0664725
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
-
The Laurel Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$735k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$718k
Blend (final)
Blend
$725k
Owner & transaction history
Enchanted Way Ventures LLC
Enchanted Way Ventures LLC
since 2025
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.1M
+124.8%
Commercial (general)
$1.1M
+122.2%
Restaurant
$1.1M
+110.2%
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
$735,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$500,000
Current use
RETAIL STORES
$1,125,000
Change: +125% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,110,000
Change: +122% · Conversion: Difficult
RESTAURANT
$1,050,000
Change: +110% · Conversion: Difficult
MEDICAL BUILDING
$955,000
Change: +91% · Conversion: Difficult
OFFICE BUILDING
$940,000
Change: +88% · Conversion: Difficult
AUTO REPAIR, GARAGE
$595,000
Change: +19% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$540,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$725k
Range $653k – $798k · ±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
$83,738
Tax year 2023
Assessed value
$5,250,000
Assessed 2024
Previous assessed
$4,995,000
+5.1% YoY
Effective rate
1.60%
On assessed value
Assessed land
$1,597,432
Assessed improvement
$3,652,568
Land market value
$1,597,432
Improvement market value
$3,652,568
Total market value
$5,250,000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
2015
Heating
NONE
Stories
1
Total area
13,045 SF
Lot
6.11 ac (266,239 SF)
APN
45146-1-1
UPID
US83-0664725
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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$500,000
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.1M
RESTAURANT
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$955,000
OFFICE BUILDING
Est. value
$940,000
AUTO REPAIR, GARAGE
Est. value
$595,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$540,000
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
RETAIL STORES
COMMERCIAL (GENERAL)
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
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
2015
Heating
NONE
Stories
1
Lot
6.11 ac
Current owner
From public records · entity-resolved
Enchanted Way Ventures LLC
Entity
Mailing address
1810 MAYFLOWER DR, DALLAS, TX 75208-3111
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 26, 2025
—
Enchanted Way Ventures LLC
Woc Events Grapevine LLC
Warranty Deed
$2,975,000 · Origin Bank
Apr 16, 2018
—
Woc Events Grapevine LLC
—
Deed
related
$100,000 · Veritex Cmnty Bk
—
—
Woc Events Grapevine LLC
—
Deed Of Trust
related
$100,000 · Veritex Cmnty Bk
—
—
Woc Events Grapevine LLC
—
Deed Of Trust
related
$4,796,000 · Veritex Cmnty Bk
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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