1004 Merritt StRiver Oaks, TX 76114

Property Details for 1004 Merritt St

Year built

1977

Lot size

1.09 AC

Property size (Sq ft)

5,400 SF

Property type

Auto shops

APN

38350--B

APU

38350B

Description

This exceptional redevelopment opportunity presents a 5,400 square foot office building situated on a generous 1.09-acre lot in the highly desirable River Oaks area of Tarrant County, Texas. Located at 1004 Merritt St, zip code 76114, this property boasts a prime commercial location at a four-way traffic light intersection, offering exceptional visibility and accessibility. The building, constructed in 1977, currently functions as an automotive repair shop, but its versatile zoning and strategic location make it ideal for a wide range of uses, including medical offices, creative office spaces, car washes, fast food establishments, retail businesses, or service industries. The property features three road frontages, providing ample access from Merritt Drive, River Oaks Drive, and Red Oak Lane. With its significant lot size and high-traffic location, this property presents a unique chance to acquire a valuable asset in a thriving Texas market. The asking price is $859,000. This is a compelling investment opportunity for those seeking a redevelopment project with significant upside potential. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $2,186,880

  6.5%

  $2,018,658

  7%

  $1,874,469

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,454,436

  Geo Method

  $4,074,099

• Alternative Use

  Use

  Valuation

  Residential

  $1,702,814

  Hospitality

  $1,559,768

  Educational

  $1,297,709

  Medical

  $1,342,339

  Retail

  $2,018,658

Location Insight

City

River Oaks

County

Tarrant

State

Texas

Latitude

32.7754

Longitude

-97.3962

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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