Retail Redevelopment or NNN
For Sale
$6,000,000
833 N Saginaw Boulevard, Saginaw, TX 76179
Retail property in Fort Worth submarket with redevelopment potential.
Property Size14,700 SF
Lot Size2.24 Acres
Price / SF$408.16
Days on Market708
Property Features for 833 N Saginaw Boulevard
General Information
Standard status
Active
Size
14,700 SF
Lot size
2.24 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$52,510
Building Details
Year Built
2003
Listing Agency:
Rohter & Company
(405) 312-1177
Listed By:
Edward Wiewel · License #0775025
(405) 312-1177
Source:
Exitrealty
Added: Sep 4, 2024
Changed: Aug 9
Last Checked: Aug 8 at 3:25AM
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 Rohter & Company
Investment Insights
Based on property information with market context.
This retail property, located in a submarket of Fort Worth on Saginaw Blvd in Saginaw, Texas, presents a redevelopment opportunity or an absolute net lease investment. The property is occupied by a national brand tenant, Walgreens. The property size is 14700 square feet. Seller-financing is available. The location is on a main street, Saginaw Blvd, that runs through The City of Saginaw. Store-sales are strong. Leases and surveys will be provided upon request.
Key Highlights
- Absolute Net Lease Investment with National Brand Tenant (Walgreens)
- Strong store sales
- Seller financing available
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$265,328
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,306,560
$5.3M
Cap Rate 7%
$3,790,400
$3.8M
Cap Rate 9%
$2,948,089
$2.9M
Market Conditions
NOI Build-Up for 14,700 SF
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.
Gross rent
$370.4K $25.20/SF
− Vacancy
−$16.7K −$1.13/SF
EGI
$353.8K $24.07/SF
− OpEx
−$88.4K −$6.02/SF
NOI
$265.3K $18.05/SF
Area
ZIP 76179
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,306,560
Cap Rate 7%
$3,790,400
Cap Rate 9%
$2,948,089
Alternative Uses
Best Use
Specialty Retail
$3.79M
$3.32M – $4.42M
NOI $265,328 @ 7.0% cap · market cap 4.42%
Second Best
Retail
$3.38M
$2.95M – $3.94M
NOI $236,281 @ 7.0% cap · market cap 3.94%
Theoretical Best
Warehouse
$17.54M
$15.35M – $20.47M
NOI $1,228,046 @ 7.0% cap · market cap 20.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
357
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76179, TX
68,333
Population
26,227
Households
2.6
Avg Household Size
34
Median Age
31%
College-Educated
92%
High-School Grad
51.9 sq mi
ZIP Area
1,317
Density / Sq Mi
$108,428
Median Household Income
$53,878
Median Earnings
$1,840
Median Rent
$299,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Drug store - Retail property in Fort Worth submarket with redevelopment potential.
Where is this drug store located?
The property is located at 833 N Saginaw Boulevard Saginaw, TX.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Absolute Net Lease Investment with National Brand Tenant (Walgreens); Strong store sales; Seller financing available
