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    2248 Central Dr Bedford, TX 76021

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    2248 Central Dr Bedford, TX 76021

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    • Strip malls
    • 18,456 SF
    • 1.99 lot acres
    For Lease
    $685,000
    View Listing →
    Retail Space Available For Rent For Lease
    $685,000

    Retail Space Available For Rent

    Retail space available for rent in Bedford, Texas.

    2248 Central Dr., Bedford, TX 76021
    View Listing
    Property ID
    US82-0367720
    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.
    Value Estimations
    $685,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Subway / Take-out & Catering
    • Kichili Shireesha DDS / Dental Office
    • Warner Bird Services / Animal Shelter / Pet Adoption Service
    • DFW Sell Fast / Real Estate Agency
    • Miracle-Ear Hearing Aid Center / Physician

    Property Details for 2248 Central Dr

    Year built
    1999
    Lot size
    1.99 lot acres
    Property size
    18,456 SF
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    1991-1-4
    APU
    199114

    Description

    This exceptional retail property, located at 2248 Central Dr. in Bedford, Texas, presents a unique investment opportunity. The Bedford Town Center Shops, a Class B neighborhood center, offers a total of 18,750 square feet of retail space within a single building situated on a 2.04-acre lot. Built in 1999, this property is ideally suited for a variety of retail businesses. Currently, there are five available spaces ranging from a minimum of 1,170 square feet to a maximum contiguous space of 1,600 square feet, providing flexibility for various tenant needs. The property's location in Tarrant County, Texas, zip code 76021, ensures high visibility and accessibility for customers. Its convenient location within the Bedford Town Center Shops offers a thriving commercial environment. This is an excellent chance to secure a well-established retail space in a desirable location. The property's size and layout offer significant potential for growth and profitability. The address is 2248 Central Dr., Bedford, TX 76021.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $645,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $726,000
      Market price range: $332k - $1.03M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $735,000
      Current use
      WAREHOUSE, STORAGE
      $680,000
      Change: -7% Conversion: Difficult
      RETAIL STORES
      $660,000
      Change: -10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Bedford
    County
    Tarrant
    State
    Texas
    Longitude
    -97.133
    Latitude
    32.8434
    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
    $42,196
    $649,035
    $1,550,965
    $2,200,000
    -
    $649,035
    $1,550,965
    $2,200,000

    Comparable in this City

    • Value Estimation
      $1,725,000
      84,092 SF

      605 Harwood Rd

      SHOPPING CENTER, STRIP CENTER • 84,092 SF
      605 Harwood Rd, Bedford, TX 76021-4214
      View Details
    • Value Estimation by Request
      15,305 SF

      500 Harwood Rd

      SHOPPING CENTER, STRIP CENTER • 15,305 SF
      500 Harwood Rd, Bedford, TX 76021-4110
      View Details
    • Value Estimation by Request
      7,058 SF

      1320 Bedford Rd

      SHOPPING CENTER, STRIP CENTER • 7,058 SF
      1320 Bedford Rd, Bedford, TX 76021-5656
      View Details
    • Value Estimation
      $625,000
      12,950 SF

      505 Industrial Blvd

      SHOPPING CENTER, STRIP CENTER • 12,950 SF
      505 Industrial Blvd, Bedford, TX 76021-6168
      View Details
    • Value Estimation by Request
      8,400 SF

      1600 Bedford Rd

      SHOPPING CENTER, STRIP CENTER • 8,400 SF
      1600 Bedford Rd, Bedford, TX 76021-5702
      View Details
    • Value Estimation by Request
      8,750 SF

      2828 Brown Trl

      SHOPPING CENTER, STRIP CENTER • 8,750 SF
      2828 Brown Trl, Bedford, TX 76021-4196
      View Details

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      11,000 SF

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      Retail space with secure storage and highway frontage.
      1805 Reliance Pkwy, Bedford, TX 76021
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      2,800 SF

      Renovated Retail Space on Bedford

      2,800 SF renovated retail space with monument signage.
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      2,400 SF

      2500 Hwy. 121, Bedford, TX 76021

      Retail space • 2,400 SF
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      5,777 SF

      Bedford Office Building For Sale

      5,777 SF office building located in Bedford, Texas.
      2324 Cheek Sparger Rd, Bedford, TX 76021
      View Details
    • $1,175,000
      5,876 SF

      High-Visibility Bedford Office Building

      Versatile office building on a prominent corner lot.
      428 Harwood Rd, Bedford, TX 76021
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    Similar Nearby for Lease

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      1,200 SF

      Retail Space in Bedford, Texas

      Retail space available in established Bedford shopping center.
      3202-3346 Harwood Rd, Bedford, TX 76021
      View Details
    • Contact for pricing
      2,064 SF

      Retail Space in Bedford, Texas

      Retail space available in a 126,052 SF shopping center.
      3152-3164 Harwood Rd, Bedford, TX 76021
      View Details
    • Contact for pricing

      Retail Space on Highway 121

      32,717 SF shopping center with high traffic count.
      2900 Highway 121, Bedford, TX 76021
      View Details
    • Contact for pricing

      Retail Center on Harwood Road

      Retail center with highway exposure and planned renovations.
      3504-3516 Harwood Rd, Bedford, TX 76021
      View Details
    • Contact for pricing
      1,265 SF

      Retail Space in Bedford Center

      Retail space with high visibility and ample parking.
      3225 Harwood Rd, Bedford, TX 76021
      View Details
    • Contact for pricing
      1,650 SF

      Retail Space Near Trinity High

      Retail space for lease near Euless Trinity High School.
      235 N Industrial Blvd, Bedford, TX 76021
      View Details
    View Listing
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    2248 Central Dr
    Bedford, TX 76021
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    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
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    2248 Central Dr, Bedford, TX, 76021
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