275 University Dr Fort Worth, TX
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Single-tenant Tesla property with a new 7-year term.
Type:RETAIL
Property size:
22,000 SFLot size:
1.49 AcresPrice / SF:
$400/SF- Added:
- Dec 14, 2020
- Days on Market:
- 1957
- Last Refresh:
- Apr 5 at 10:16 pm
Property Features for 275 University Dr
General Information
- Standard status
- Active
- Size
- 22,000 SF
- Lot size
- 1.49 Acres
- Property subtype
- RETAIL
Listing agent Cameron Deptula
Listing office Davidson Bogel Real Estate (214) 526-3626
Listing date Dec 14, 2020
Source Moodyscre
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 Davidson Bogel Real Estate
Overview
Tesla Single-Tenant Property in Fort Worth
Located in the W. 7th District, this property is occupied by Tesla, with a new 7-year term guaranteed by Tesla Motors TX, Inc. The property has been redeveloped, with Tesla investing over $1.5 million in capital improvements. It serves as Fort Worth’s main Tesla Service Center. The lease includes 3.00% annual rental increases through the primary and renewal terms, with a blended return of 5.47% during the primary term. The rents are currently below market value, with two five-year options at 95.00% of FMV in 2025 & 2030. The property is situated next to the W. 7th Entertainment District and Cultural District, and is one mile from Downtown Fort Worth, near the River Crest, River Oaks, and Westover Hills neighborhoods. It is surrounded by high-end car dealerships, including Audi Fort Worth and Autobahn’s Porsche, BMW, Land Rover, Jaguar, and Volkswagen dealerships. The location has 94,014 and 254,945 residents within a three and five mile radius, respectively, and daytime populations of 124,626 and 196,002 employees within the respective three and five mile trade range. The property size is 22000 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Tesla
Auto Repair Shop
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Location Insight
- Map
- Local Demand
- City
- Fort Worth
- County
- Tarrant
- State
- Texas
- Longitude
- -97.3597
- Latitude
- 32.7562
Nearby Similar for Sale
FAQs
What type of property is this?
Auto shop - Single-tenant Tesla property with a new 7-year term.
Where is this auto shop located?
The property is located at 275 University Dr Fort Worth, TX.
What is the asking price?
The asking price for this property is $8,800,000.
What are key features of this property?
This property features: Rare single‑tenant Tesla property with a new 7‑year term, guaranteed by Tesla Motors TX, Inc. of Tesla Inc.; Mission‑critical location for Tesla, serving as Fort Worth’s main Tesla Service Center.; Below‑market rents with two five‑year options at 95% of FMV in 2025 & 2030, offering significant value‑add potential.
