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    232 NE 28Th St Fort Worth, TX 76164

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    232 NE 28Th St Fort Worth, TX 76164

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    • Outlet malls
    • 35,045 SF
    • 3.06 lot acres
    For Lease
    $1,730,000
    View Listing →
    Stockyards Retail Space Available For Lease
    $1,730,000

    Stockyards Retail Space Available

    Large retail space in the Stockyards, suitable for various uses.

    232 NE 28th St, Fort Worth, TX 76164
    View Listing
    Property ID
    US82-3376344
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • FAMSA Furniture / Furniture & Home Goods / Home Decor Store

    Property Details for 232 NE 28Th St

    Year built
    2004
    Lot size
    3.06 lot acres
    Property size
    35,045 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    14480-9-8
    APU
    1448098

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Worth
    County
    Tarrant
    State
    Texas
    Longitude
    -97.3461
    Latitude
    32.7946
    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
    $60,021
    $1,738,814
    $801,948
    $2,540,762
    -
    $1,738,814
    $801,948
    $2,540,762

    Comparable in this City

    • Value Estimation
      $1,020,000
      13,430 SF

      2463 Main St

      WHOLESALE OUTLET, DISCOUNT STORE • 13,430 SF
      2463 Main St, Fort Worth, TX 76164
      View Details
    • Value Estimation
      $1,240,000
      28,016 SF

      2551 Ephriham Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 28,016 SF
      2551 Ephriham Ave, Fort Worth, TX 76164-6755
      View Details
    • Value Estimation by Request
      0.28 Acres

      2555 Ephriham Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 0.28 Acres
      2555 Ephriham Ave, Fort Worth, TX 76164-6755
      View Details
    • Value Estimation
      $635,000
      27,278 SF

      2517 Rodeo Plz

      SHOPPING CENTER, STRIP CENTER • 27,278 SF
      2517 Rodeo Plz, Fort Worth, TX 76164-8209
      View Details
    • Value Estimation by Request
      5,095 SF

      2716 Pearl Ave

      SHOPPING CENTER, STRIP CENTER • 5,095 SF
      2716 Pearl Ave, Fort Worth, TX 76164-6934
      View Details
    • Value Estimation by Request
      10,875 SF

      1602 25th St

      SHOPPING CENTER, STRIP CENTER • 10,875 SF
      1602 25th St, Fort Worth, TX 76164-6805
      View Details

    Similar Nearby for Sale

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      Turn Key Restaurant Building

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      Fort Worth Retail NNN Property

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      Commercial Pad Sites Available

      Multiple commercial pad sites available for sale.
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      Fort Worth Stockyards Land

      0.80 acres available in the Fort Worth Stockyards.
      304 NW 23Rd St, Fort Worth, TX 76164
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      Fort Worth Land For Sale

      Land available for sale in Fort Worth, Texas.
      1400 Throckmorton St, Fort Worth, TX 76164
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    Similar Nearby for Lease

    • Contact for pricing
      1,400 SF

      Retail Space Near Historic Stockyards

      Fiesta-anchored shopping center in Fort Worth's Northside neighborhood.
      215-275 NE 28Th St, Fort Worth, TX 76164
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Wal-Mart

      Retail spaces available near a new Wal-Mart Supercenter development.
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      8,009 SF

      Retail Space Near Historic Stockyards

      Fiesta-anchored shopping center in Fort Worth's northside neighborhood.
      201-211 NE 28Th St, Fort Worth, TX 76164
      View Details
    • Contact for pricing
      104,410 SF

      Retail Space in Fort Worth

      Retail spaces available in Fort Worth shopping center.
      215-275 NE 28Th St, Fort Worth, TX 76164
      View Details
    • Contact for pricing

      Stockyards Retail Space Available

      Large retail space in the Stockyards, suitable for various uses.
      232 NE 28Th St, Fort Worth, TX 76164
      View Details
    • Contact for pricing
      5,670 SF

      Retail Space Available for Lease

      5,612 SF retail space with designated parking.
      625 S Main St, Fort Worth, TX 76164
      View Details
    View Listing
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    232 NE 28Th St
    Fort Worth, TX 76164
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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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