Central Park Small Bay Industrial 2 Flex Properties Offered at $3,690,000 in Hurst, TX

Central Park Small Bay Industrial (the “Property”) is a 41,000 SF, 12-suite small-bay industrial park situated on 2.82 acres in the infill Hurst/Mid-Cities submarket of Dallas-Fort Worth. Offered at $90/SF, the Property presents investors with immediate true value-add potential through lease up, near-term lease rollover, and a significant rental mark-to-market opportunity. The Property also benefits from over $2.15 million in capital improvements made in 2023.
Currently 49% occupied with a Weighted Average Lease Term of less than six months, in-place rents average $8.46/SF (gross)—approximately 66% below prevailing market rates of $10.50–$11.00/SF NNN. By stabilizing the asset at conservative $10.50/SF NNN rents, the Property is projected to achieve a pro-forma cap rate in excess of 10.4% by Year 5.
After a storm in 2023, the seller spent over $2.15 million upgrading the property by installing new TPO roofs (20-year warranty), new roll-up doors, new HVAC, new plumbing and electrical, complete interior renovations in 1523-1531 Central Park Dr, parking lot repairs, and fresh exterior paint—positioning the next owner to focus primarily on leasing rather than capital improvements.
The Property benefits from outstanding accessibility at the confluence of NE Loop 820, SH-121 (Airport Freeway), and SH-10 (W Hurst Blvd), placing the majority of Tarrant County within a 10-minute drive. Strong local demographics include average household income exceeding $85,500 and median home values above $259,600 within a one-mile radius.
The East Fort Worth/Mid-Cities flex submarket remains one of the tightest in DFW, with current vacancy of only 5.1%, 5.5% rent growth in 2024 (CoStar), and virtually no competitive supply forecasted through 2028.
Central Park Small Bay Industrial represents a rare opportunity to acquire a recently upgraded, small-bay industrial asset with below market rents and occupancy in a supply-constrained, high-growth infill location within one of the nation’s strongest industrial markets.