1700 S Cherry Ln
Fort Worth, TX 76108
Cherry Tree Plaza · Retail Property For Sale

- Below Market Rents: The average rental rate at Cherry Tree Plaza is only $8.16 psf while like-kind product in the immediate trade area is leasing from $20.00 to $30.00 psf. Furthermore, over the next several years, a buyer could see a significant increase in cash flow by increasing existing rents and backfilling the available 35.9% of the center at market rent. - Priced Below Replacement Cost: Cherry Tree Plaza presents a compelling opportunity to acquire a retail asset at $61.35 per square foot, which is less than a third or replacement cost. - Sought After Value-Add Opportunity: The property’s current occupancy of 64.1% provides an opportunity for investors to realize immediate revenue growth with the lease-up of the available 21,970 square feet of retail space. - Extremely High Growth Trade Area: Located just West a highly dense area of West Fort Worth, Cherry Tree Plaza benefits from strong demographics with high growth expected over the next several years. Within three- and five-mile radii of the property, there has been a hefty increase of 21.61% and 27.48% of residents, respectively, over the past nine years. Additionally, within the next five years, the population within a five-mile radius is expected to grow an additional 9.12%. - Exceptional Demographics: Within a five-mile radius, the asset benefits from a strong household income of $81,390, which is well above the national average. - Retail-Dense Location: Situated in a retail-dense corridor just west of the historic Ridgmar area of Fort Worth, the property benefits from exposure to consumers with high spending power.