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Property profile & analytics
FOR LEASE
Strip malls
2248 Central Dr Bedford, TX 76021
Individually Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US82-0367720
For Lease
$685,000
2248 Central Dr, Bedford, TX 76021
View Listing →
Property summary
AI-generated overview
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.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1999
Total area
18,456 SF
Lot
1.99 ac (86,554 SF)
APN
1991-1-4
UPID
US82-0367720
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$645k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$726k
Blend (final)
Blend
$685k
Owner & transaction history
Nalini Prabhakar · 10 yrs held
Nalini Prabhakar
since 2016
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Bedford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bedford 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
$645,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$685k
Range $617k – $754k · ±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
$37 / 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
$42,196
Tax year 2023
Assessed value
$2,200,000
Assessed 2024
Previous assessed
$2,200,000
+0.0% YoY
Effective rate
1.92%
On assessed value
Assessed land
$649,035
Assessed improvement
$1,550,965
Land market value
$649,035
Improvement market value
$1,550,965
Total market value
$2,200,000
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
1999
Heating
NONE
Stories
1
Total area
18,456 SF
Lot
1.99 ac (86,554 SF)
APN
1991-1-4
UPID
US82-0367720
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
$735,000
WAREHOUSE, STORAGE
Est. value
$680,000
RETAIL STORES
Est. value
$660,000
NEIGHBORHOOD: SHOPPING CENTER Current
WAREHOUSE, STORAGE
RETAIL STORES
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
1999
Heating
NONE
Stories
1
Lot
1.99 ac
Current owner
From public records · entity-resolved
Nalini Prabhakar
Individual
Free & Clear · 10 yrs held
Mailing address
5924 ROYAL LN STE #250, DALLAS, TX 75230-8802
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2016
—
Nalini Prabhakar
Prabhakar,meenakshi
Quit Claim Deed
related
—
May 11, 2004
—
Bedford Town Center Gp Ltd
Bedford Town Center LP
Quit Claim Deed
related
—
Mar 24, 2000
—
Sunbelt Dix INC
Sec Bedford & Central Ltd
Grant 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.
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