Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2244 Lancaster Ave Fort Worth, TX 76103-2221

    • Retail space
    • 2,592 SF
    • 0.15 lot acres
    OFF-MARKET
    Value Estimations
    $290,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2655159
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Uncle Ed's Bargain House / Used Appliance Store

    Property Details for 2244 Lancaster Ave

    Year built
    1930
    Lot size
    0.15 lot acres
    Property size
    2,592 SF
    Property type
    Retail space
    APN
    38550--B
    APU
    38550B

    Description

    This 2,500 square foot storefront at 2244 E Lancaster Ave, Fort Worth, TX 76103, is a redevelopment opportunity priced at $279,000. The single-story, 1930-built building sits on a 6,403 square foot lot and boasts 100% occupancy with a current tenant. The property features ample space for retail or storage, with additional outdoor storage in a fenced rear area. Its location offers high visibility on a busy section of East Lancaster Avenue, just minutes from downtown Fort Worth. Zoned Commercial Light Industrial (I) per the City of Fort Worth, this property presents versatile options for various business uses. Potential buyers are responsible for verifying all zoning regulations, easements, and permitted uses. The building's total square footage is 2,592 square feet, with a price per square foot of $119.60. The property is offered with clear title and is considered a distressed sale. This is a motivated seller situation, with a recent price reduction from $310,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $270,000
      Current use
      AUTO REPAIR, GARAGE
      $410,000
      Change: +53% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $305,000
      Change: +13% Conversion: Easy
      OFFICE BUILDING
      $240,000
      Change: -11% Conversion: Easy
      MEDICAL BUILDING
      $230,000
      Change: -15% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Worth
    County
    Tarrant
    State
    Texas
    Longitude
    -97.2942
    Latitude
    32.745
    CBSA code
    19100
    CBSA name
    DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,796
    $48,000
    $78,000
    $126,000
    -
    $48,000
    $78,000
    $126,000

    Comparable in this City

    • Value Estimation
      $240,000
      1,750 SF

      408 Oakland Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,750 SF
      408 Oakland Blvd, Fort Worth, TX 76103-3750
      View Details
    • Value Estimation
      $370,000
      1,852 SF

      3021 Lancaster Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,852 SF
      3021 Lancaster Ave, Fort Worth, TX 76103-2925
      View Details
    • Value Estimation
      $240,000
      2,046 SF

      4075 Lancaster Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,046 SF
      4075 Lancaster Ave, Fort Worth, TX 76103-3639
      View Details
    • Value Estimation
      $295,000
      2,272 SF

      4753 Lancaster Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,272 SF
      4753 Lancaster Ave, Fort Worth, TX 76103-3817
      View Details
    • Value Estimation
      $350,000
      3,600 SF

      4501 Lancaster Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,600 SF
      4501 Lancaster Ave, Fort Worth, TX 76103-3368
      View Details
    • Value Estimation
      $285,000
      0.17 Acres

      413 Ayers Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.17 Acres
      413 Ayers Ave, Fort Worth, TX 76103
      View Details

    Similar Nearby for Sale

    • $260,000
      1,500 SF

      Lancaster Ave Retail Investment

      Fort Worth Retail, Renovated, High Traffic
      3120 Lancaster Ave, Fort Worth, TX 76103
      View Details
    • Contact for pricing

      Commercial Land Near Downtown Fort Worth

      2.5199 acres with highway visibility near downtown Fort Worth.
      2301 Scott Ave, Fort Worth, TX 76103
      View Details
    • $245,000
      0.17 Acres

      Fort Worth Duplex Investment Property

      Duplex in Fort Worth, each unit with 2 beds, 1 bath.
      2505 Normont Cir, Fort Worth, TX 76103
      View Details
    • $246,000
      1,456 SF

      Ranch Style Duplex Investment Property

      Ranch style duplex in Fort Worth, great investment opportunity.
      2501 Normont Cir, Fort Worth, TX 76103
      View Details
    • $256,828
      0.53 Acres

      Fort Worth Land Development Opportunity

      Unimproved land in high-traffic area, suitable for various commercial uses.
      4906 E Lancaster Ave, Fort Worth, TX 76103
      View Details
    • $245,000
      0.17 Acres

      Fort Worth Duplex Investment Property

      Duplex in Fort Worth with detached garage, sold as-is.
      2500 Normont Cir, Fort Worth, TX 76103
      View Details

    Similar Nearby for Lease

    • $1,200 /Mo
      41,382 SF

      Retail Location in Fort Worth

      Retail space available for rent in Fort Worth, Texas.
      2600 N Edgewood Ter, Fort Worth, TX 76103
      View Details
    • $1,900 /Mo
      25,483 SF

      High-Visibility Commercial Lot on Lancaster

      Prime leasing opportunity on high-traffic East Lancaster Avenue.
      5025 E Lancaster Ave, Fort Worth, TX 76103
      View Details
    • Contact for pricing
      3,321 SF

      Class A Office Sublease Space

      Sublease office space with high-end finishes and ample parking.
      2001-2101 Beach St, Fort Worth, TX 76103
      View Details
    • Contact for pricing
      8,500 SF

      Office Space For Lease

      Office spaces available for lease with high traffic volume.
      4701-4733 E Lancaster Ave, Fort Worth, TX 76103
      View Details
    • $15,000 /Mo
      36,460 SF

      Versatile Office Space Near I-30

      8,000+ sqft office space near I-30 in Fort Worth.
      1500 Ederville Rd S, Fort Worth, TX 76103
      View Details
    • $1,800 /Mo
      3,615 SF

      Office Space For Rent

      Office space available for lease in Fort Worth, Texas.
      2636 Meadowbrook Dr, Fort Worth, TX 76103
      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.
    2244 Lancaster Ave
    Fort Worth, TX 76103-2221
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.