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Property profile & analytics
OFF-MARKET
Estimated value
$3,715,000
Office buildings
3128 Merida Ave Fort Worth, TX 76109
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US82-0421970
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Total area
25,906 SF
Lot
1.15 ac (50,007 SF)
APN
-6050---10---17---20
UPID
US82-0421970
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.17M
Blend (final)
Blend
$3.72M
Owner & transaction history
Nebraska Realty Ptrs IV LLC · 8 yrs held
Nebraska Realty Ptrs IV LLC
since 2017
7 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 Fort Worth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fort Worth 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,325,000
Current use
COMMERCIAL (GENERAL)
$3,905,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$3.72M
Range $3.34M – $4.09M · ±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
$143 / 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
Assessed value
$2,086,591
Assessed 2024
Previous assessed
$2,086,591
+0.0% YoY
Assessed land
$500,000
Assessed improvement
$1,586,591
Land market value
$500,000
Improvement market value
$1,586,591
Total market value
$2,086,591
Applied tax rate
223.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1975
Heating
NONE
Stories
1
Total area
25,906 SF
Lot
1.15 ac (50,007 SF)
APN
-6050---10---17---20
UPID
US82-0421970
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
OFFICE BUILDING Current
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$3.9M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
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
1975
Heating
NONE
Stories
1
Lot
1.15 ac
Current owner
From public records · entity-resolved
Nebraska Realty Ptrs IV LLC
Entity
Mailing address
2610 FAIRMOUNT ST, DALLAS, TX 75201-1904
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2017
—
Nebraska Realty Ptrs IV LLC
Nelrod Properties LLC
Grant Deed
related
—
Jan 19, 2017
—
Nelrod Properties LLC
—
Deed
related
$53,302 · Liberty Bk
Aug 16, 2010
—
Nelrod Properties LLC
—
Deed Of Trust
related
$1,816,890 · Liberty Bk/ar Siloam Springs
Jul 19, 2006
—
Nelrod Properties LLC
University Ch Of Christ/ft Worth
Grant Deed
$1,787,000 · Summit Bank
Aug 12, 2004
—
University Ch Of Christ Ft Worth
West Berry Church Of Christ
Grant Deed
related
—
—
—
Nelrod Properties LLC
—
Loan Modification
related
$1,816,890 · Liberty Bk
—
—
Nelrod Properties LLC
—
Loan Modification
related
$1,690,228 · Liberty Bank
—
—
Nelrod Properties LLC
—
Deed Of Trust
related
$230,000 · Frost National Bank
—
—
Nelrod Properties LLC
—
Deed Of Trust
related
$53,302 · Liberty Bk
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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