Back to Search
Property profile & analytics
FOR LEASE
Office buildings
508 S Adams St Fort Worth, TX 76104
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US83-4261482
For Lease
1 / 2
$25 SF/Yr
508 S Adams St, Fort Worth, TX 76104
View Listing →
Property summary
AI-generated overview
The Adams Building, located at 508 S Adams St, Fort Worth, TX 76104, offers exceptional medical office space in Tarrant County's desirable Medical District. This two-story, 24,006 square foot building, constructed in 1969 and renovated in 2014, provides multiple tenancy options. Suites range from 2,500 to 7,700 square feet, allowing for flexibility in practice size and layout. The building features a fully built-out standard medical space design, catering to various medical specialties. Ample parking is available with 50 spaces located behind the building for convenient patient and staff access. The second floor is easily accessible via both stairs and an elevator, ensuring accessibility for all. This prime location offers a blend of established infrastructure and modern amenities, making it an ideal setting for medical practices seeking a well-equipped and conveniently located space. The building's design allows for both individual suites and larger open areas, providing options for customized layouts to meet specific practice needs.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1969
Total area
18,795 SF
Lot
1.48 ac (64,599 SF)
APN
21630-41-1R
UPID
US83-4261482
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
-
Dr. Pavani Muddasani Physician
-
Texas Nephrology Consultants Medical Clinic
-
Alpha Pulmonary Critical Care Consultants Physician
-
Dr. Noble U. Ezukanma, MD Physician
-
Christen Wright, OTA Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$585k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$965k
Owner & transaction history
Feb LLC · 11 yrs held
Feb LLC
since 2015
6 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
$585,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$965k
Range $869k – $1.06M · ±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
$51 / 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
$40,730
Tax year 2023
Assessed value
$1,800,000
Assessed 2024
Previous assessed
$1,800,000
+0.0% YoY
Effective rate
2.26%
On assessed value
Assessed land
$1,647,301
Assessed improvement
$152,699
Land market value
$1,647,301
Improvement market value
$152,699
Total market value
$1,800,000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1969
Heating
NONE
Stories
2
Total area
18,795 SF
Lot
1.48 ac (64,599 SF)
APN
21630-41-1R
UPID
US83-4261482
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
Building & site characteristics
From public records
Year built
1969
Heating
NONE
Stories
2
Lot
1.48 ac
Current owner
From public records · entity-resolved
Feb LLC
Entity
Mailing address
508 S ADAMS ST, FORT WORTH, TX 76104-2147
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
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
May 4, 2015
—
Feb LLC
Heaf LLC
Venders Lien
$2,125,000 · Compass Bank
Oct 4, 2006
—
Heaf LLC
Pulmonary Pob Ltd
Special Warranty Deed
$2,175,000 · Bear Stearns Commercial Mortgage In
Sep 29, 2006
—
Adesubomi Agoro
Pulmonary Pob Ltd
Grant Deed
—
Sep 18, 2002
—
Pulmonary Pob Ltd
Bernabei,olivia D
Grant Deed
$1,325,000 · Texas Bank
—
—
Olivia D Bernabei
—
Deed Of Trust
related
$700,000 · National Bank Of Texas
—
—
Pulmonary Pob Ltd
—
Deed Of Trust
related
$8,900,000 · Cibc INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
