Single-Tenant Tesla Service
For Sale
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275 University Dr, Fort Worth, TX 76107
Single-tenant auto service facility leased to Tesla with a long-term structure and renewal options.
Property Size22,000 SF
Price / SF$400
Days on Market2102
Property Features for 275 University Dr
General Information
Standard status
Active
Size
22,000 SF
Property subtype
RETAIL
Building Details
Tenancy
Single
Abandoned
No
Listing Agency:
Davidson Bogel Real Estate
(214) 526-3626
Listed By:
Cameron Deptula
Source:
Moodyscre
Added: Dec 14, 2020
Changed: Sep 13
Last Checked: Sep 15 at 11:45AM
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
Investment Insights
Based on property information with market context.
Single-tenant auto service facility with Tesla tenancy. The property has been fully redeveloped with new construction elements and adaptive reuse. Building size is 22,000 square feet.
The lease is described as a new 7-year term with a guaranty by Tesla Motors TX, Inc. of Tesla Inc. The lease includes a 3.00% annual rental increase through the primary and renewal terms. The structure also features two (2) five-year options at 95.00% of FMV in 2025 and 2030.
Located at 275 University Dr, Fort Worth, TX 76107 in the W. 7th District area near the W. 7th Entertainment and Cultural District and about one (1) mile from Downtown Fort Worth. The site is surrounded by other high-end car dealerships.
The lease is described as a new 7-year term with a guaranty by Tesla Motors TX, Inc. of Tesla Inc. The lease includes a 3.00% annual rental increase through the primary and renewal terms. The structure also features two (2) five-year options at 95.00% of FMV in 2025 and 2030.
Located at 275 University Dr, Fort Worth, TX 76107 in the W. 7th District area near the W. 7th Entertainment and Cultural District and about one (1) mile from Downtown Fort Worth. The site is surrounded by other high-end car dealerships.
Key Highlights
- Single‑tenant Tesla lease with a new 7‑year term
- Tesla Motors TX, Inc. guaranty of Tesla Inc.
- 3.00% annual rental increase through primary and renewal terms
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
$353,618
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
4.02%
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%
$7,072,360
$7.1M
Cap Rate 7%
$5,051,686
$5.1M
Cap Rate 9%
$3,929,089
$3.9M
Market Conditions
NOI Build-Up for 22,000 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
$530.6K $24.12/SF
− Vacancy
−$25.5K −$1.16/SF
EGI
$505.2K $22.96/SF
− OpEx
−$151.6K −$6.89/SF
NOI
$353.6K $16.07/SF
Area
Fort Worth, TX
Vacancy
4.80%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$7,072,360
Cap Rate 7%
$5,051,686
Cap Rate 9%
$3,929,089
Alternative Uses
Best Use
Retail
$5.05M
$4.42M – $5.89M
NOI $353,618 @ 7.0% cap · market cap 4.02%
Second Best
Industrial
$1.98M
$1.74M – $2.31M
NOI $138,813 @ 7.0% cap · market cap 1.58%
Theoretical Best
Office A
$7.99M
$6.99M – $9.32M
NOI $559,416 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,695
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76107, TX
31,591
Population
17,957
Households
1.8
Avg Household Size
37
Median Age
55%
College-Educated
91%
High-School Grad
10.7 sq mi
ZIP Area
2,952
Density / Sq Mi
$79,473
Median Household Income
$54,461
Median Earnings
$1,501
Median Rent
$431,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Single-tenant auto service facility leased to Tesla with a long-term structure and renewal options.
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: Single‑tenant Tesla lease with a new 7‑year term; Tesla Motors TX, Inc. guaranty of Tesla Inc.; 3.00% annual rental increase through primary and renewal terms
