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    237 Main St Azle, TX 76020-3177
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    Property profile & analytics

    237 Main St, Azle, TX 76020-3177

    View on Map
    • Office Spaces
    • 3,383 SF
    • 1.20 lot acres
    Off-Market
    Property ID
    US82-0179307
    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
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Brace Chiropractic and Wellness Center, LLC / Alternative Medicine Practice
    • Dr. Matthew Mishio / Alternative Medicine Practice
    • Jessica Brace / Alternative Medicine Practice

    Property Details for 237 Main St

    Year built
    1974
    Lot size
    1.20 lot acres
    Property type
    Office Spaces
    APN
    20805-005-000-00
    APU
    2080500500000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 5, 2018 — Jessica B Payne — Deed · related $130k · Pinnacle Bk
    Jan 11, 2017 — Jessica B Payne — Deed · related $168k · Pinnacle Bk
    Apr 27, 2016 — Jessica B Payne — Trustees Deed · related $168k · Pinnacle Bk
    Sep 8, 2004 — Jessica P Brace Main Street Azle Properties Grant Deed $156k · First Bank
    — — Jessica B Payne — Loan Modification · related $171k · Pinnacle Bk
    — — Jessica B Payne — Loan Modification · related $168k · Pinnacle Bk
    — — Jessica B Payne — Loan Modification · related $130k · Pinnacle Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $780,000
      6.5%
      $720,000
      7%
      $665,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $666,000
      Market price range: $244k - $872k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $565,000
      Current use
      OFFICE BUILDING
      $620,000
      Change: +10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Azle
    County
    Parker
    State
    Texas
    Longitude
    -97.5464
    Latitude
    32.8931
    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
    $8,449
    $209,610
    $196,720
    $406,330
    -
    $209,610
    $196,720
    $406,330

    Comparable in this City

    • Value Estimation
      $14,710,000
      62,594 SF

      Azle, TX 76020

      OFFICE (GENERAL)
      Azle, TX 76020
      View Details
    • Value Estimation by Request
      339 SF

      150 Industrial Ave Ste, Unit 206

      CONDOMINIUM OFFICES
      150 Industrial Ave Ste, Azle, TX 76020-2955
      View Details
    • Value Estimation
      $2,550,000
      20,340 SF

      600 Nwnw Pkwy

      OFFICE (GENERAL)
      600 Nwnw Pkwy, Azle, TX 76020-2916
      View Details
    • Value Estimation
      $3,230,000
      25,564 SF

      1355 Nwnw Pkwy

      OFFICE (GENERAL)
      1355 Nwnw Pkwy, Azle, TX 76020-2840
      View Details
    • Value Estimation
      $620,000
      4,300 SF

      301 Commerce St

      OFFICE (GENERAL)
      301 Commerce St, Azle, TX 76020-2438
      View Details
    • Value Estimation by Request
      2,392 SF

      337 Main St

      OFFICE (GENERAL)
      337 Main St, Azle, TX 76020-2903
      View Details

    Similar Nearby for Sale

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      Commercial Land with Road Frontage

      High-visibility site with extensive frontage, ideal for a range of commercial and development concepts.
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    • New
      $279,000
      0.27 Acres

      Freestanding Brick Office Building

      Well-appointed office layout with a reception area, private offices, conference room, and on-site parking at the front and side.
      1501 Southeast Pkwy, Azle, TX 76020
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    • Contact for pricing

      Freestanding Brick Office Building

      Freestanding brick office with onsite parking, reception, conference room, and eight private offices.
      1501 Southeast Pkwy, Azle, TX 76020
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      Prime Office Building in Texas

      Well-maintained office building suitable for various professional services.
      828 N Main St, Springtown, TX 76020
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    • New
      $649,000
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      Light Commercial Property with Two Buildings

      High-visibility light commercial site with two buildings, strong Highway frontage, and ample parking for owner-users or investors.
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    Similar Nearby for Lease

    • Contact for pricing

      Neighborhood Retail Center in Azle

      Two-story retail center with diverse tenant mix near Highway 199.
      100-252 Park Pl, Azle, TX 76020
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      1,100 SF

      Retail and Office Center

      Retail and office spaces available in Azle's main corridor.
      328 W Main St, Azle, TX 76020
      View Details
    • Contact for pricing
      1,750 SF

      Retail and Office Center Space

      Retail and office center in Azle's main retail corridor.
      316 W Main St, Azle, TX 76020
      View Details
    • $2,500 /Mo
      43,560 SF

      Flex Warehouse with Office Space

      Lease a 2-bay flex setup with offices, a full bathroom, ample parking, and outdoor space for operations and expansion.
      9079 Fm 1886, Azle, TX 76020
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    • $24 SF/Yr
      2,200 SF

      Restaurant-Ready Strip Retail Center

      Prime FM 730 visibility with ample parking and flexible unit sizes, including spaces suited for restaurants.
      13008 S Fm 730, Azle, TX 76020
      View Details
    • Contact for pricing
      9,000 SF

      Retail Units For Lease

      Retail units available for lease in high-traffic area.
      13006 S Fm 730, Azle, TX 76020
      View Details
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    Azle, TX 76020-3177
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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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