Downtown Fort Worth Development
1119 W 5th St Fort Worth, TX 76102
For Sale
Contact for pricing
Prime development site near Sundance Square in downtown Fort Worth.
Property Size8,940 SF
Lot Size0.23 Acres
Price / SF$153.80
Days on Market697
Property Features for 1119 W 5th St
General Information
- Standard status
- Active
- Size
- 8,940 SF
- Lot size
- 0.23 Acres
- Property subtype
- Industrial, Land
Building Details
- Year Built
- 1950
Listing Agency:
Transwestern Houston
(817) 877-4433
Listed By:
Bill Behr · License #TX 351049
Source:
Crexi
Added: Aug 27, 2024
Changed: Jul 6
Last Checked: Jul 22 at 12:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Transwestern Houston
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a nearly quarter-acre development site in downtown Fort Worth, located blocks from Sundance Square and the central business district. The property, situated at 1119 W. 5th Street between Summit Avenue and Lexington Street, consists of 10,150 square feet of land. Zoned "H" Central Business, the property allows for the development of a high-rise office building, townhomes, or multifamily apartments without height restrictions. This provides an opportunity for a low land basis on a future building per square foot basis. The property falls within the Downtown Urban Design District (DUDD) overlay. An existing 8,940-square-foot warehouse can be leased out during the planning and design phases of a development project, potentially reducing the overall basis in the parcel.
Key Highlights
- Prime downtown Fort Worth development site, blocks from Sundance Square and the Central Business District.
- Large 10,150 sq ft lot (nearly quarter‑acre) offering substantial development potential.
- "H" Central Business zoning allows for high‑rise office, townhomes, or multifamily apartments with no height restrictions.
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $80.5k | $9.00 |
| − Vacancy | −$7.6k | −$0.86 |
| EGI | $72.8k | $8.15 |
| − OpEx | −$10.9k | −$1.22 |
| NOI | $61.9k | $6.92 |
8,940 SF · lease $9.00/SF/yr · vacancy 9.50% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$884.2K
$773.7K – $1.03M
NOI $61,894 @ 7.0% cap · market cap 4.50%
Second Best
Industrial
$805.8K
$705.1K – $940.1K
NOI $56,408 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,326 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Commercial land
FAQs
What type of property is this?
Commercial land - Prime development site near Sundance Square in downtown Fort Worth.
Where is this commercial land located?
The property is located at 1119 W 5th St Fort Worth, TX.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Prime downtown Fort Worth development site, blocks from Sundance Square and the Central Business District.; Large 10,150 sq ft lot (nearly quarter‑acre) offering substantial development potential.; "H" Central Business zoning allows for high‑rise office, townhomes, or multifamily apartments with no height restrictions.
