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Value Add Retail Center 2220-2226 Handley Dr 6,860 SF 100% Leased Retail Building Fort Worth, TX 76112 $850,000 ($123.91/SF) 7.55% Cap Rate
Investment Highlights
- Priced at Below Replacement Cost
- All NNN Tenants
- Located at the signalized intersection with combined average daily traffic of more than 74,000
- 100% Occupancy with Lease Expiration in 2030 and 2031
- Large Land for Potential Re-development
Executive Summary
Marcus & Millichap is pleased to offer this multi-tenant retail investment opportunity in Fort Worth, Texas. The subject property is located at the signalized intersection at Meadowbrook Drive and Handly Drive with combined average daily traffic of more than 74,000.
The building was constructed in 1972 and consists of 6,860 square feet of retail space and sits on 0.77 acres of land. It has excellent 50 parking spaces at 7.3:1,000 square feet of building. The property provides easy access to I-30, I-820, TX-180.
The three tenants are all on triple-net lease with only $0.78 per square foot base rent with potential to increase rents for future tenants. Tenants pay for their own water and electricity for easy management.
This is an excellent opportunity to acquire a bite size property for a potential for re-development or further stabilization with façade and overall remodel.
The building was constructed in 1972 and consists of 6,860 square feet of retail space and sits on 0.77 acres of land. It has excellent 50 parking spaces at 7.3:1,000 square feet of building. The property provides easy access to I-30, I-820, TX-180.
The three tenants are all on triple-net lease with only $0.78 per square foot base rent with potential to increase rents for future tenants. Tenants pay for their own water and electricity for easy management.
This is an excellent opportunity to acquire a bite size property for a potential for re-development or further stabilization with façade and overall remodel.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,860 SF
Building Class
C
Year Built
1972
Price
$850,000
Price Per SF
$123.91
Cap Rate
7.55%
NOI
$64,164
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
0.77 AC
Parking
31 Spaces (4.52 Spaces per 1,000 SF Leased)
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 06930913 | Improvements Assessment | $449,796 |
| Land Assessment | $133,304 | Total Assessment | $583,100 |
Property Taxes
Parcel Number
06930913
Land Assessment
$133,304
Improvements Assessment
$449,796
Total Assessment
$583,100
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Value Add Retail Center | 2220-2226 Handley Dr
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