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Property profile & analytics
OFF-MARKET
Estimated value
$1,200,000
Sports & entertainment properties
500 23rd St Fort Worth, TX 76164-8219
Entity Owned
20-yr Hold
Free & Clear
Property ID
US82-0271487
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
2010
Total area
26,320 SF
Lot
3.7 ac (161,172 SF)
APN
45020-1-1A
UPID
US82-0271487
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
-
River Ranch Stockyards Hotel & Motel Resort
-
Best of Texas Premier Horse Sale Agricultural Supply
-
Fort Worth Stockyards Business Association Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$895k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.50M
Blend (final)
Blend
$1.20M
Owner & transaction history
Cowtown Concessions INC · 20 yrs held
Cowtown Concessions INC
since 2005
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.8M
+71.8%
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
$895,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RECREATIONAL/ENTERTAINMENT (GENERAL)
$1,060,000
Current use
WAREHOUSE, STORAGE
$1,820,000
Change: +72% · Conversion: Difficult
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±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
$46 / 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
$78,393
Tax year 2023
Assessed value
$3,900,000
Assessed 2024
Previous assessed
$3,290,000
+18.5% YoY
Effective rate
2.01%
On assessed value
Assessed land
$1,934,064
Assessed improvement
$1,965,936
Land market value
$1,934,064
Improvement market value
$1,965,936
Total market value
$3,900,000
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
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
2010
Heating
NONE
Stories
1
Total area
26,320 SF
Lot
3.7 ac (161,172 SF)
APN
45020-1-1A
UPID
US82-0271487
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
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$1.8M
RECREATIONAL/ENTERTAINMENT (GENERAL) Current
WAREHOUSE, STORAGE
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
2010
Heating
NONE
Stories
1
Lot
3.7 ac
Current owner
From public records · entity-resolved
Cowtown Concessions INC
Entity
Free & Clear · 20 yrs held
Mailing address
500 NE 23RD ST, FORT WORTH, TX 76164-8219
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2005
—
Cowtown Concessions INC
Fort Worth & Wstn Railroad
Grant Deed
related
—
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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