2707 Race StFort Worth, TX 76111

Property Details for 2707 Race St

Year built

1948

Lot size

0.94 AC

Property size (Sq ft)

8,657 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

33315-1-1

APU

3331511

Description

This exceptional 5,116-square-foot restaurant space, located at 2707 Race Street in Fort Worth, Texas, 76111, presents a unique opportunity. Built in 1945 and extensively renovated in 2021, the single-tenant property boasts a modern interior and a prime location in the revitalized River East submarket. The space includes a 570-square-foot covered outdoor patio, perfect for al fresco dining. Inside, you'll find a fully equipped kitchen featuring a large griddle, stove, prep tables, a three-compartment sink, and a spacious walk-in cooler. A 42-foot bar and separate men's and women's restrooms add to the property's appeal. Ample parking is available with 80 spaces in a shared lot behind the building, supplemented by street parking. The property is zoned MU-1 and benefits from excellent visibility and accessibility. The surrounding area has seen significant growth in recent years, with over 1,200 new multi-family units constructed within a half-mile radius, and only two miles from downtown Fort Worth. This location offers a thriving customer base and significant growth potential. The property is a single-story building.

• CAP approach

  CAP return

  Valuation

  6%

  $2,679,170

  6.5%

  $2,473,080

  7%

  $2,296,430

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,533,320

  Geo Method

  $2,695,490

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $4,782,390

  Mixed-Use / Specialty

  $2,480,580

  Hospitality / Lodging

  $1,841,160

  Office

  $2,482,830

  Institutional / Educational

  $2,584,630

  Residential Income

  $3,024,020

  Multifamily

  $3,536,420

  Automotive / Energy

  $2,215,400

  Parking / Income-Based Land

  $748,392

  Restaurant / Food Service

  $1,324,980

  Healthcare / Senior Housing

  $2,527,060

Location Insight

City

Fort Worth

County

Tarrant

State

Texas

Latitude

32.7736

Longitude

-97.3072

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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