Shops At North Tarrant 5601 North Tarrant Parkway, Fort Worth, TX Cap Rate 6.77% Fort Worth ( Texas, US ) Built

$5,400,000 USD

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Development Level: Built
  • Lot Size: 2.31 acres
  • Year Built: 2018


Shops At North Tarrant 5601 North Tarrant Parkway, Fort Worth, TX Cap Rate 6.77%

Cap Rate: 6.77%
NOI: $365,731
Lot Area: 2.31 acres
Occupancy: 100%
Lease Type: Triple Net
Year Built: 2018
Price Per Sqft: $459
Tenancy: Multiple
Parking Spots: 73
Gross Leaseable Area: 11760

Price: $5,400,000 USD

DuWest Investment Services is pleased to offer for sale the Shops at North Tarrant, a 5-tenant, 12,000 square foot retail center located in the thriving north Fort Worth submarket along N. Tarrant Parkway. The property is situated between a new Kroger Signature store and land to be developed in the future by H-E-B. Constructed in 2018, the center features high quality construction and an architecturally current design. The monument sign in front of the center is also consistent with first-class construction. Shops at North Tarrant has excellent visibility along N. Tarrant Pkwy that carries over 34,000 vehicles per day.

One of the strongest features of the property is the fact that none of the tenants requested or were granted rent deferment during the Covid-19 shutdown. As the ongoing pandemic has been the most significant stress test for retail tenants since the Great Recession, the fact that all tenants are current highlights the tenancy’s strong credit and commitment to the center.

The contractual rent growth is also a strong component of the center. Each lease features annual 2% increases bolstering the investor’s IRR and ensures reliable exit at a higher Net Operating Income. Additionally, the average rent in the center is just under $30 per square foot, a healthy number compared to similar 2018 vintage DFW retail. The Shops at North Tarrant is situated in an outstanding submarket with strong demographics and a low vacancy level. In the center’s primary trade area (1-mile radius), the population is 17,450 with an average household income of over $108,000. The density and high incomes combine for a safe long-term investment for any retail investor.

The offering also includes approximately 24,000 square feet of developable land behind the retail center that could be developed into a variety of uses including daycare, small office or warehouse. There is space on the large monument sign for these future tenants and the owner could further benefit from the additional signage income.

For more information
Javier Tamez Martínez.
Celular: +52 (81) 1599 75 36
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Information is deemed to be correct but not guaranteed.