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Roanoke, TX

11699 Airway Boulevard

Address:
11699 Airway Boulevard, Roanoke, TX 76262
Property Type:
Single Tenant
Price:
$975,000
Square Feet:
8,400 sqft
Lot Size:
0.33 Acres
Price Per Square Foot:
$116.07
Year Built:
1983
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Investment Highlights

Investment Highlights

Investment Highlights

  • 8,400-Square-Foot Fee Simple Airplane Hanger Located at Aero Valley Airport
  • Features Direct Access to Paved and Lit Runway
  • Great Location Off I-35 West, Between Denton and Fort Worth Texas
  • High-Growth Primary Industrial Submarket with Limited Hanger Inventory and 9.0% Rent Growth

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located on the grounds of the Aero Valley Airport at 11699 Airway Boulevard in Roanoke, Texas. The subject property consists of approximately 8,400 square feet of hanger space and is situated on 0.33 acres of land. The single-tenant asset features a 43-foot sliding door hanger access, metal construction, 4,800 square feet of office and living space, and direct access to a paved and well-lit runway. Positioned just 1.5 miles from Interstate 35 West, the property is primely positioned between the cities of Fort Worth and Denton.

The subject property is situated in the Northeast Tarrant/Alliance submarket. As one of Dallas-Fort Worth’s primary industrial nodes, the submarket contains a massive 82.8 million square feet of industrial space. The submarket is home to multiple airports, including Perot Field Fort Worth Alliance Airport which serves as a main hub for air cargo carriers such as FedEx and Amazon. Toward the end of Q4 2023, a record 10.7 million square feet of industrial space was delivered on net. While net absorption was also on track to set new highs at about 6.7 million square feet during this time, demand lagged supply, causing the vacancy rate to rise to 11.7 percent. Despite the overall availability, the supply of hanger space in Northeast Tarrant/Alliance remains limited. While the pace of rent growth followed the national trend of slowing down in 2023, market rents were still up an impressive 9.0 percent year-over-year in Q4. With 6.5 million square feet under construction (representing 7.9 percent of inventory), developers continue to show strong interest in the Northeast Tarrant/Alliance submarket (CoStar).

The Dallas-Fort Worth metroplex is the fourth-most populous metro in the nation, with an aggregate of more than 7.7 million residents. It is composed of 13 counties stretching nearly 10,000 square miles. The city of Dallas houses 1.3 million people, followed by Fort Worth with 919 thousand residents. Strong job growth continually draws new residents to the region. To accommodate the additional traffic, the region’s transportation network is evolving. Traffic flow is improved as freeways are expanded and miles are being added to tollways and turnpikes. The growth of the transportation network is vital to supporting commuters to the metro’s numerous corporations and growing industries. Dallas/Fort Worth’s population growth in recent years ranks among the highest in the U.S. for a major metro. The Metroplex is home to 24 Fortune 500 companies and many regional headquarters, drawing workers and residents. The area’s extensive network of rail and highways, along with the International Inland Port of Dallas, ensure its status as a distribution hub.

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2023 Marcus & Millichap. All rights reserved. (Activity ID: ZAE0060613)