1119 Pennsylvania AveFort Worth, TX 76104

Property Details for 1119 Pennsylvania Ave

Year built

1916

Lot size

0.24 AC

Property size (Sq ft)

6,071 SF

Property type

Office buildings

APN

7700-1-1A

APU

770011A

Description

This exceptional 6,071 square-foot office building, located at 1119 Pennsylvania Ave. in Fort Worth, Texas, presents a unique investment opportunity. Built in 1916 and fully renovated in 2016, this historic property boasts preserved architectural details, including beautiful stained-glass windows. Currently 100% occupied by a law firm under a gross lease, the building offers six individual offices spread across four floors. Amenities include two conference rooms, a full kitchen, and a wine cellar in the basement. The property sits on a 0.242-acre corner lot in a high-traffic commercial area, conveniently located near Harris Methodist Hospital and easily accessible via I-30. Eight parking spaces are available on-site. The HVAC system was replaced in 2022. The asking price is $1,850,000, representing a price per square foot of $304.73. The land value alone is $170.75 per square foot. The property is zoned for office use and includes all furnishings, negotiable upon offer. A three-month leaseback from the purchase date is required. This is a single-unit, Class B building with a single tenant. The property's APN is 00568791.

• CAP approach

  CAP return

  Valuation

  6%

  $1,664,349

  6.5%

  $1,536,322

  7%

  $1,426,585

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,033,933

  Geo Method

  $1,817,597

• Alternative Use

  Use

  Valuation

  Residential

  $1,905,039

  Hospitality

  $1,745,006

  Educational

  $1,451,824

  Medical

  $1,501,755

  Retail

  $2,258,393

Location Insight

City

Fort Worth

County

Tarrant

State

Texas

Latitude

32.7381

Longitude

-97.3372

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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