Fort Worth, Navy Federal Credit Union SEC I-35 and Rendon Crowley Road, Burleson, TX Cap Rate 5% Burleson Meadows (Burleson, Texas, US ) Built

$2,870,000 MXN
Dollars

BAI-MEX Bienes Raíces y Negocios

bai -mex bai -mex +528115997536 (Cell) Request More Info

  • Type: Commercial
  • Style: Commercial
  • Size: 3,500 sq. ft.
  • Development Level: Built
  • Year Built: 2020

Description

Fort Worth, Navy Federal Credit Union SEC I-35 and Rendon Crowley Road, Burleson, TX Cap Rate 5%

Pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, newly constructed, Navy Federal Credit Union investment property located in Fort Worth, Texas. The tenant, Navy Federal Credit Union, recently executed a brand new 10-year lease with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in Year 7 of the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NNN with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Navy Federal Credit Union is the world’s largest credit union currently operating more than 341 branches and serving over 8 million members. The brand new state-of-the-art property was delivered in October of 2020 and is slated to open Q1 2021.

Navy Federal Credit Union will be located along South Freeway averaging 5,100 vehicles passing by daily. The site benefits from nearby direct on/off ramp access to Interstate 35W (122,900 VPD), a major north-south commuter thoroughfare serving the greater Forth Worth metropolitan area. The credit union will be ideally located within Southgate Marketplace, a mixed-use development at the southeast corner of Rendon Crowley Road and Interstate 35, that will feature a variety of stores and restaurants, a hotel, and apartments (240 units). The new development will be located to nearby power centers Gateway Station (359,000 SF) and McAlister Square (193,000 SF), significantly increasing consumer draw to the immediate trade area and promoting crossover store exposure for the site. Additionally, the retail corridor is home to a variety of national/credit tenants including Walmart Supercenter, Best Buy, T.J. Maxx, HomeGoods, Lowe’s Home Improvement, Kohl’s, and more, further increasing exposure and crossover synergy for the asset. The 5-mile trade area is supported by a population of more than 146,100 residents and 36,200 daytime employees with an average household income of $88,142.

Cap Rate 5%
NOI $143,500
Building Size 3,500 sqft
Occupancy 100%

Price: $2,870,000 USD

For more innfoormation
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: (81) 1599 75 36
# ID de Propiedad: 358038156
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

P2#436814965
top
Information is deemed to be correct but not guaranteed.