HALTOM ROAD MULTI TENANT (FORT WORTH, TX)

MULTI TENANT

990 HALTOM ROAD, FORT WORTH, TX 76117
Price :
$ 2,812,000
Cap Rate :
7.75%
NOI :
$ 217,979
Lot Size :
5.36 acres
Year Built :
1966
Property Area :
71,124 sqft
Status :
AVAILABLE
MARKETING PACKAGE

By downloading the Marketing Package (“Offering Memorandum”) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

 

Investment Highlights

• 71,124 Square-Foot Multi Tenant Warehouse Situated on 5.36 Acres
• Features Two Dock-High Doors, Six Grade Level Doors, and 16’-22’ Clear Height
• Tough Barrier to Entry Market: 4.2% Overall Vacancy and 3.4% Annual Rent Growth (CoStar)
• Contains 4,246 Square Feet of Newly Refurbished Office Space
• New Sprinkler System and Roof within the Last Two Years
• Great Access to Major Freeways: Proximate to I-35W & I-30

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 990 Haltom Road in Fort Worth, Texas. The subject property consists of approximately 71,124 square feet of space and is situated on 5.36 acres of land. The asset features two dock-high doors, six gradelevel doors, and 16’-22’ clear heights. In addition to 4,246 square feet of newly refurbished office space, a new sprinkler system and a new roof were installed within the last two years. In a tough barrier to entry market, the subject property lies within a submarket with 4.2 percent overall vacancy and 3.4 percent annual rent growth (CoStar). The asset has great access to major freeways and is proximate to I-35 West and I-30.

The East Fort Worth submarket usually sees a large number of smaller deals. Given muted levels of new supply, rent growth has consistently outperformed the historical average over the last decade, and occupancies are comfortably above the submarket’s historical average. This submarket shares some of the same attributes of other submarkets in the Mid-Cities, namely good east-west highway access and proximity to the DFW International Airport. Most of the submarket’s inventory is located along either Highway 121 or I-820. The tenant base is made up of a mix of manufacturers and local retail/food distributors. Nearly all of East Fort Worth’s stock is made up of lower-functioning assets with clear heights below 32 feet. Most properties are either smaller than 100,000 square feet or were built before 1995. (CoStar)

The metro is home to several higher-educational institutions, including Texas Christian University, the University of Texas at Arlington, which supplies an educated labor force for the large and diverse employment base. Lockheed Martin Aeronautics Co. is headquartered in Air Force Plant 4 in the city of Fort Worth. It serves the Naval Air Station, also based in the metro. Healthcare is a strong economic driver, assisted by students graduating from the area’s many colleges and universities. Large employers include Texas Health Resources and University of Texas. General Motors’ assembly plant has been operating in the metro since 1954 and currently manufactures large SUVs for various divisions such as Chevrolet, GMC and Cadillac, providing numerous jobs. Local amenities include the Kimbell Art Museum, Modern Art Museum of Fort Worth, the National Cowgirl Museum and Hall of Fame, as well as rodeos at the Fort Worth Stockyards.

 

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. © 2020 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060700)

Exclusive Listing

Adam Abushagur
(972) 755-5223
Lic # TX : 661916

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