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Fort Worth, TX

1832-1833 Stella Street

Address:
1832-1833 Stella Street, Fort Worth, TX 76104
Property Type:
Single Tenant
Price:
$450,000
Square Feet:
2,800 sqft
Lot Size:
0.42 Acres
Price Per Square Foot:
$160.71
Year Built:
1990
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Investment Highlights

Investment Highlights

Investment Highlights

  • 2,800-Square-Foot Industrial Building on 0.42 Acres Offering Ample Space and Strategic Location
  • Property Contains One Dock-High Door, One Grade-Level Door, 14’ Clear-Height
  • Ideal for a Variety of Owner-Users as Well as a Lease-Up Opportunity for Investors
  • Located Directly Off Highway 287, Providing Easy Access to the Rest of the Metroplex
  • 3.5% Vacancy in the Submarket and 8.2% Annual Rent Growth

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1832 to 1833 Stella Street in Fort Worth, Texas. The subject property consists of approximately 2,800 total square feel, including 2,400 of warehouse space and is situated on 0.42 acres of land. The single-tenant asset features one dock-high door, one drive-in door, and a clear height of 14’. Effective December 1, 2023, the property will be available for owner use. Given the property’s exceptional functionality, this opportunity is ideal for a variety of businesses. Located just off U.S. Route 287, the property has easy access to other major thoroughfares, including Interstates 30 and 35 West.

The subject property is situated within East Fort Worth, a tight barrier-to-entry submarket containing 28.1 million square feet of industrial space. The tenant base is largely a mix of manufacturers and local retail and food distributors. Small industrial properties dominate East Fort Worth, with properties under 100,000 square feet making up nearly three-quarters of the local inventory. While demand for industrial space has slowed down in 2023, the vacancy rate remains historically low at 3.5 percent in Q3. While rent growth has also decelerated this year, the rate was still well-above pre-pandemic levels at 8.2 percent annually during this time. Going into the last quarter of the year, 755,000 square feet of industrial space were under construction in East Fort Worth. Given that 93 percent of the pipeline is concentrated in properties over 50,000 square feet, new supply will have a minimal direct impact on small industrial properties comparable to the subject asset (CoStar).

The Dallas-Fort Worth metroplex is the fourth-most populous metro in the nation, with an aggregate of more than 7.9 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 nearly one million 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: ZAE0060258)