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

    505 Main St Azle, TX 76020-2907

    • Office properties & Spaces
    • 27,581 SF
    • 14.03 lot acres
    OFF-MARKET
    Value Estimations
    $6,485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0722577
    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

    • Azle Police Department / Police Department
    • Azle Municipal Court / Government Office
    • Azle City Hall / City Government Office
    • Azle Building Inspection / City Government Office
    • Azle Economic Development / Association / Organization

    Property Details for 505 Main St

    Year built
    2019
    Lot size
    14.03 lot acres
    Property size
    27,581 SF
    Property type
    Office properties & Spaces
    APN
    R000106496
    APU
    R000106496

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,345,000
      6.5%
      $5,855,000
      7%
      $5,435,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $7,109,000
      Market price range: $1.99M - $7.11M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,615,000
      Current use
      OFFICE BUILDING
      $5,070,000
      Change: +10% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Azle
    County
    Parker
    State
    Texas
    Longitude
    -97.5498
    Latitude
    32.8976
    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
    2022
    $0.00
    $2,444,060
    $5,935,910
    $8,379,970
    -
    $2,444,060
    $5,935,910
    $8,379,970

    Comparable in this City

    • Value Estimation
      $2,095,000
      8,920 SF

      836 Nwnw Pkwy

      OFFICE (GENERAL) • 8,920 SF
      836 Nwnw Pkwy, Azle, TX 76020-2333
      View Details
    • Value Estimation by Request
      1,484 SF

      1351 Nwnw Pkwy

      OFFICE (GENERAL) • 1,484 SF
      1351 Nwnw Pkwy, Azle, TX 76020-2826
      View Details
    • Value Estimation by Request
      2,123 SF

      150 Industrial Ave Ste, Unit 201

      CONDOMINIUM OFFICES • 2,123 SF
      150 Industrial Ave Ste, Azle, TX 76020-2955
      View Details
    • Value Estimation by Request
      2,135 SF

      100 Tall Mdw St

      OFFICE (GENERAL) • 2,135 SF
      100 Tall Mdw St, Azle, TX 76020-3084
      View Details
    • Value Estimation
      $1,500,000
      6,676 SF

      150 Willow Ct

      OFFICE (GENERAL) • 6,676 SF
      150 Willow Ct, Azle, TX 76020
      View Details
    • Value Estimation by Request
      1,680 SF

      300 Chuckwagon Trl

      OFFICE (GENERAL) • 1,680 SF
      300 Chuckwagon Trl, Azle, TX 76020-1227
      View Details

    Similar Nearby for Sale

    • $450,000

      Prime Azle Office Building

      Texas Office Space - $450,000
      828 Main St, Azle, TX 76020
      View Details
    • New
      $649,900
      4,000 SF

      Azle Live-Work Barndominium on Acres

      Unique live-work property on 2.93 acres near Eagle Mountain Lake.
      134a Cedar Creek Dr, Azle, TX 76020
      View Details
    • $695,000
      1,400 SF

      Equestrian Retreat Barndominium on Acreage

      Unique barndominium with equestrian facilities on 8.86 acres.
      845 N Cardinal Rd, Azle, TX 76020
      View Details
    • Contact for pricing

      Land For Sale

      Land available for purchase.
      #7 Tbd Briar Rd, Azle, TX 76020
      View Details
    • Contact for pricing

      Industrial Property with Two Buildings

      Two-building industrial property featuring office space and grade doors.
      706-708 Northwest Pkwy, Azle, TX 76020
      View Details
    • Contact for pricing

      Land For Sale in Azle

      Land available for purchase in Azle, Texas.
      1922 Walter Smith Rd, Azle, TX 76020
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      8,830 SF

      Hornet's Plaza: Azle Retail Space

      Prime Azle retail, drive-thru available
      1000 Boyd Rd, Azle, TX 76020
      View Details
    • Contact for pricing
      250 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
    • Contact for pricing

      Flex Space on FM 730

      Flex space for lease with frontage on FM 730.
      14135 D, Azle, TX 76020
      View Details
    • $2,500 /Mo
      66,081 SF

      Automotive Shop Space For Lease

      Functional automotive shop space available for lease in Azle market.
      2000 Northwest Pkwy, Sanctuary, TX 76020
      View Details
    • Contact for pricing
      1,268 SF

      Neighborhood Center Retail Space

      Retail space available in Tarrant County neighborhood center.
      100-252 Park Pl, Azle, TX 76020
      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.
    505 Main St
    Azle, TX 76020-2907
    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!