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Property profile & analytics
OFF-MARKET
Estimated value
$670,000
Medical Office Space
3405 Locke Ave Fort Worth, TX 76107-5704
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US83-4087515
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2009
Total area
7,003 SF
Lot
0.66 ac (28,798 SF)
APN
-3820---10---11---20
UPID
US83-4087515
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
-
Texas Eye and Laser Center Physician Ophthalmologist
-
Dr. Brian D. Ranelle, DO Physician Ophthalmologist
-
Dr. Jerry G. Hu, M.D. Ophthalmologist
-
Stephen K. Webb, OD Ophthalmologist
-
Megan Wagner Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$490k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$845k
Blend (final)
Blend
$670k
Owner & transaction history
Overcomer Energy LLC · 14 yrs held
Overcomer Energy LLC
since 2012
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$835,000
+20.5%
Restaurant
$795,000
+14.7%
Retail stores
$780,000
+12.5%
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
$490,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$695,000
Current use
COMMERCIAL (GENERAL)
$835,000
Change: +20% · Conversion: Easy
RESTAURANT
$795,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$780,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$670k
Range $603k – $737k · ±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
$96 / 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
$37,901
Tax year 2023
Assessed value
$1,695,000
Assessed 2024
Previous assessed
$1,675,000
+1.2% YoY
Effective rate
2.24%
On assessed value
Assessed land
$1,440,000
Assessed improvement
$255,000
Land market value
$1,440,000
Improvement market value
$255,000
Total market value
$1,695,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2009
Heating
YES
Cooling
YES
Stories
1
Bathrooms
1
Total area
7,003 SF
Lot
0.66 ac (28,798 SF)
APN
-3820---10---11---20
UPID
US83-4087515
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
MEDICAL BUILDING Current
Est. value
$695,000
COMMERCIAL (GENERAL)
Est. value
$835,000
RESTAURANT
Est. value
$795,000
RETAIL STORES
Est. value
$780,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
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
2009
Heating
YES
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.66 ac
Current owner
From public records · entity-resolved
Overcomer Energy LLC
Entity
Free & Clear · 14 yrs held
Mailing address
1872 NORWOOD DR, HURST, TX 76054-3066
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2020
—
Greystone Leadership LP
—
Deed
related
$860,000 · Worthington National Bank
Feb 24, 2012
—
Overcomer Energy LLC
76028 LP
Grant Deed
related
—
Apr 27, 2009
—
Greystone Leadership
Tesc Dev Ltd
Grant Deed
$1,720,000 · Southwest Bank
Dec 23, 2008
—
Shaw-stites Construction Ltd
Darden,thomas F
Grant Deed
$500,149 · 76028 LP
Jun 13, 2007
—
Thomas F Darden
Trujillo,jovita
Warranty Deed
—
—
—
Greystone Leadership LP
—
Deed Of Trust
related
$1,263,201 · Southwest Bank
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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