Add Listing
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

    3017 Waits Ave Fort Worth, TX 76109-2329

    • Office buildings
    • 1,330 SF
    • 0.10 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1411475
    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

    • The Liquid Frog / Gym & Fitness Center / Alternative Medicine Practice

    Property Details for 3017 Waits Ave

    Year built
    1940
    Lot size
    0.10 lot acres
    Property size
    1,330 SF
    Property type
    Office buildings
    APN
    14290-14-8R1A-10
    APU
    14290148R1A10

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Worth
    County
    Tarrant
    State
    Texas
    Longitude
    -97.357
    Latitude
    32.7071
    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
    $3,021
    $25,884
    $107,604
    $133,488
    -
    $25,884
    $107,604
    $133,488

    Comparable in this City

    • Value Estimation
      $20,805,000
      352,323 SF

      5600 Clearfork Main St

      OFFICE BUILDING (MULTI-STORY) • 352,323 SF
      5600 Clearfork Main St, Fort Worth, TX 76109-3567
      View Details
    • Value Estimation
      $3,715,000
      25,906 SF

      3128 Merida Ave

      OFFICE BUILDING • 25,906 SF
      3128 Merida Ave, Fort Worth, TX 76109
      View Details
    • Value Estimation
      $1,200,000
      4,056 SF

      4624 Loop 820

      OFFICE BUILDING • 4,056 SF
      4624 Loop 820, Fort Worth, TX 76109
      View Details
    • Value Estimation
      $2,140,000
      13,171 SF

      4541 Bellaire S Dr

      OFFICE BUILDING • 13,171 SF
      4541 Bellaire S Dr, Fort Worth, TX 76109-1890
      View Details
    • Value Estimation by Request
      2,161 SF

      3701 University Dr

      OFFICE BUILDING • 2,161 SF
      3701 University Dr, Fort Worth, TX 76109-3719
      View Details
    • Value Estimation
      $930,000
      22,787 SF

      3113 University Dr

      OFFICE BUILDING (MULTI-STORY) • 22,787 SF
      3113 University Dr, Fort Worth, TX 76109-5616
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Available For Ground Lease

      Land available for ground lease.
      4260 Bryant Irvin Rd, Benbrook, TX 76109
      View Details
    • $675,000
      0.42 Acres

      Residential Land in Stonegate Neighborhood

      Land in gated community ready for custom home build.
      2889 Oakbriar Trl, Fort Worth, TX 76109
      View Details
    • Contact for pricing

      Retail Property on South Hulen

      Retail property for sale on South Hulen Street, Fort Worth.
      4300-4375 S Hulen St, Fort Worth, TX 76109
      View Details
    • $950,000
      0.60 Acres

      Residential Land in University Place

      Over half an acre in a prime Fort Worth location.
      2415 Rogers Ave, Fort Worth, TX 76109
      View Details
    • New
      $419,000
      2,000 SF

      Fort Worth Duplex with Parking

      Full duplex with hardwood floors and ample parking.
      2600 W Bewick St, Fort Worth, TX 76109
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      634 SF

      Six-Story Office Near TCU

      19,977 SF office building adjacent to TCU.
      3113 S University Dr, Fort Worth, TX 76109
      View Details
    • Contact for pricing

      Six-Story Office Tower Near TCU

      Office and retail spaces available near Texas Christian University.
      3113 S University Dr, Fort Worth, TX 76109
      View Details
    • Contact for pricing

      Established Medical Space in Fort Worth

      Second-generation medical space in high-traffic Fort Worth location.
      4325 S Hulen St, Fort Worth, TX 76109
      View Details
    • Contact for pricing
      2,390 SF

      Medical Space Available Near Waterside

      2,390 SF second-generation medical space for lease.
      4200 Bryant Irvin Rd, Benbrook, TX 76109
      View Details
    • Contact for pricing
      1,424 SF

      Professional Office Space in Fort Worth

      Multi-tenant office building with space available in southwest Fort Worth.
      2800 S Hulen St, Fort Worth, TX 76109
      View Details
    • Contact for pricing
      874 SF

      Move-in Ready Office Space

      Office space for rent with on-site management and banking.
      4200 S Hulen St, Fort Worth, TX 76109
      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.
    3017 Waits Ave
    Fort Worth, TX 76109-2329
    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.
    Sign Up Successful!
    You now have access to more from Realmo!