Highway 114 Warehouse
For Sale
$38,592,040
2765 Highway 114, Fort Worth, TX 76177
Warehouse with excellent access to highways and proximity to airport.
Property Size266,152 SF
Price / SF$145
Days on Market277
Property Features for 2765 Highway 114
General Information
Standard status
Active
Size
266,152 SF
Property subtype
Industrial
Building Details
Building Size
266,152 SF
Year Built
2020
Listing Agency:
(817) 991-1800
Listed By:
Trey Fricke, SIOR
(817) 991-1800
Source:
Lee-associates
Added: Nov 26, 2025
Changed: Aug 25
Last Checked: Aug 29 at 8:54AM
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 Trey Fricke, SIOR
Investment Insights
Based on property information with market context.
Located in Northwest Commerce Park, this warehouse property offers a front load configuration. It provides excellent access to Highway 114 and I-35. The property is in close proximity to Alliance Airport and is situated 5.6 miles from the BNSF Intermodal Facility. The property size is 266152 square feet.
Key Highlights
- Excellent access to Highway 114 & I‑35
- Located in Northwest Commerce Park
- Close proximity to Alliance Airport
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
$1,842,637
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
4.77%
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%
$36,852,740
$36.9M
Cap Rate 7%
$26,323,386
$26.3M
Cap Rate 9%
$20,473,744
$20.5M
Market Conditions
NOI Build-Up for 266,152 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
$2.40M $9.00/SF
− Vacancy
−$227.6K −$0.86/SF
EGI
$2.17M $8.15/SF
− OpEx
−$325.2K −$1.22/SF
NOI
$1.84M $6.92/SF
Area
Fort Worth, TX
Vacancy
9.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$36,852,740
Cap Rate 7%
$26,323,386
Cap Rate 9%
$20,473,744
Alternative Uses
Best Use
Warehouse
$26.32M
$23.03M – $30.71M
NOI $1,842,637 @ 7.0% cap · market cap 4.77%
Second Best
Industrial
$23.99M
$20.99M – $27.99M
NOI $1,679,329 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$96.68M
$84.60M – $112.80M
NOI $6,767,713 @ 7.0% cap · market cap 17.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
78
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76177, TX
23,001
Population
10,140
Households
2.3
Avg Household Size
32
Median Age
48%
College-Educated
98%
High-School Grad
20.6 sq mi
ZIP Area
1,117
Density / Sq Mi
$103,990
Median Household Income
$55,635
Median Earnings
$1,726
Median Rent
$349,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 16120 Double Eagle Blvd, Fort Worth, TX 76177
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse with excellent access to highways and proximity to airport.
Where is this warehouse located?
The property is located at 2765 Highway 114 Fort Worth, TX.
What is the asking price?
The asking price for this property is $38,592,040.
What are key features of this property?
This property features: Excellent access to Highway 114 & I‑35; Located in Northwest Commerce Park; Close proximity to Alliance Airport
