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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7009 Midway Rd Richland Hills, TX 76118-7012

    • Industrial properties
    • 60,258 SF
    • 4.88 lot acres
    OFF-MARKET
    Last Sale
    Jun 07, 2021
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4259973
    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

    • Hamilton Form Co Ltd / Sheet Metal Contractor

    Property Details for 7009 Midway Rd

    Year built
    1963
    Lot size
    4.88 lot acres
    Property size
    60,258 SF
    Property type
    Industrial properties
    APN
    34140--67AR
    APU
    3414067AR

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $890,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,188,000
      Market price range: $663k - $1.93M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,230,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Richland Hills
    County
    Tarrant
    State
    Texas
    Longitude
    -97.2275
    Latitude
    32.7951
    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
    2023
    $53,125
    $212,679
    $2,172,860
    $2,385,539
    -
    $212,679
    $2,172,860
    $2,385,539

    Comparable in this City

    • Value Estimation
      $1,065,000
      76,162 SF

      7125 Belton St

      HEAVY INDUSTRIAL • 76,162 SF
      7125 Belton St, Richland Hills, TX 76118-6805
      View Details
    • Value Estimation by Request
      46,000 SF

      7100-7108 Burns St

      Distribution properties • 46,000 SF
      7100-7108 Burns St, Richland Hills, TX 76118
      View Details
    • Value Estimation by Request
      0.63 Acres

      7144 Burns St

      HEAVY INDUSTRIAL • 0.63 Acres
      7144 Burns St, Richland Hills, TX 76118-6808
      View Details
    • Value Estimation
      $7,010,000
      403,363 SF

      9601 Trinity Blvd

      HEAVY INDUSTRIAL • 403,363 SF
      9601 Trinity Blvd, Fort Worth, TX 76118
      View Details
    • Value Estimation
      $1,250,000
      99,036 SF

      7125 Belton St

      HEAVY INDUSTRIAL • 99,036 SF
      7125 Belton St, Richland Hills, TX 76118-6805
      View Details
    • Value Estimation
      $750,000
      40,250 SF

      7451 Dogwood Park Dr

      HEAVY INDUSTRIAL • 40,250 SF
      7451 Dogwood Park Dr, Richland Hills, TX 76118-6405
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,000 SF

      Pre-Engineered Steel Warehouse Available

      12,000 SF warehouse with highway access and modern interiors.
      2805 Handley Ederville Rd, Richland Hills, TX 76118
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    • $978,000
      5,973 SF

      Richland Hills Flex Property

      Flex property with office and warehouse space in Richland Hills.
      6557 Baker Blvd, Richland Hills, TX 76118
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    • $700,000
      0.47 Acres

      Richland Hills Restaurant Opportunity

      Fully operational restaurant space with drive-through in high-traffic area.
      7344 Baker Blvd, Richland Hills, TX 76118
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    • Contact for pricing
      1.58 Acres

      Prime Richland Hills Commercial Land

      1.58 Acres, High Visibility, Hwy 26
      6604 Boulevards 26, Fort Worth, TX 76118
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    • $50,000
      0.14 Acres

      Residential Land in Richland Hills

      Build-ready lot in established Richland Hills neighborhood near amenities.
      2828 Matthews Dr, Richland Hills, TX 76118
      View Details
    • $285,000
      0.82 Acres

      Richland Hills Unimproved Land

      0.819 acres in Richland Hills, no HOA, water meter.
      7116 Dover Ln, Richland Hills, TX 76118
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      2,700 SF

      Industrial Space Available For Lease

      2700 square feet industrial space for lease in Fort Worth.
      2500-2518 Gravel Dr, Fort Worth, TX 76118
      View Details
    • $10 SF/Yr
      4,000 SF

      Industrial Space For Lease

      Industrial space available for lease in Fort Worth, TX.
      2636-2670 Gravel Dr, Fort Worth, TX 76118
      View Details
    • Contact for pricing
      2,000 SF

      Fort Worth Flex/Industrial Space

      Flex/industrial space available for lease in Fort Worth, TX.
      2629-2655 Gravel Dr, Fort Worth, TX 76118
      View Details
    • $10 SF/Yr
      2,000 SF

      Fort Worth Flex/Industrial Space

      Flex/industrial space available for lease in Fort Worth, TX.
      2600-2634 Gravel Dr, Fort Worth, TX 76118
      View Details
    • Contact for pricing
      14,879 SF

      Centreport Park Warehouse Space

      Industrial warehouse space available for rent in Centreport Park.
      14500 Trinity Blvd, Fort Worth, TX 76118
      View Details
    • $6 SF/Yr
      46,000 SF

      Industrial Warehouse Space Available

      Industrial warehouse for lease with fenced yard and freeway access.
      7100 Burns St, Richland Hills, TX 76118
      View Details
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    7009 Midway Rd
    Richland Hills, TX 76118-7012
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    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
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