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WellMed 3-Tenant 9701 Harmon Rd 17,708 SF 100% Leased Retail Building Fort Worth, TX 76177 $7,943,000 ($448.55/SF) 6.20% Cap Rate
INVESTMENT HIGHLIGHTS
- 17,708 SF, 100% Leased, 2018 Construction Three-Tenant Retail Asset Led by WellMed in Fort Worth, TX
- Average Household Income Exceeds $133,600 & $139,200 in a 1- & 3-Mile Radii, Respectively
- Positioned Between U.S. Highway 287 & Interstate 35W; 157,500+ Combined VPD
- Dense Retail Trade Area with 3.7MM+ SF of Retail GLA in a 2-Mile Radius with an Additional 109,000+ SF Under Construction
- Below Market Average Rent of only $27.81 PSF NNN
- 3.42 +/- Acre Site, Partial Masonry Construction, 100+ Parking Spaces, 2-Sided Monument Sign, 2 Ingress/Egress Points Along Harmon Road
EXECUTIVE SUMMARY
WellMed 3-Tenant is a 17,708 square foot, three-tenant retail asset situated on +/- 3.42 acres in the high-growth northern submarket of Fort Worth, Texas (DFW). The Property is approximately 20 minutes from Dallas Fort Worth International Airport and 35 minutes from downtown Dallas. WellMed 3-Tenant is 100% leased to a complementary mix of dentistry, bakery, and health tenants including Bella Smiles Dentistry, Terry’s Donuts, and WellMed, with an average base lease term expiration of August 2029. Rents average $27.81 PSF NNN, which are at or below market for comparable new construction retail space leasing in the $30s to $40’s NNN, creating an opportunity for rent growth over time. Over 3.7 million square feet of retail GLA exists in a 2-mile radius of the Property, with adjacent users including CVS Pharmacy, HEB, Costco Wholesale, Target Supercenter, Ross Dress for Less, Best Buy, Kroger Marketplace, and Aldi amongst others. Positioned between 4+ residential neighborhoods and between Interstate 35W and Highway 287, WellMed 3-Tenant benefits from daily traffic with two ingress/egress points along Harmon Road and ample parking (100+ parking spaces).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
17,708 SF
Building Class
B
Year Built
2018
Price
$7,943,000
Price Per SF
$448.55
Cap Rate
6.20%
NOI
$492,478
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.12
Lot Size
3.42 AC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 42298596 | Improvements Assessment | $4,261,300 |
| Land Assessment | $1,488,700 | Total Assessment | $5,750,000 |
PROPERTY TAXES
Parcel Number
42298596
Land Assessment
$1,488,700
Improvements Assessment
$4,261,300
Total Assessment
$5,750,000
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WellMed 3-Tenant | 9701 Harmon Rd
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