Retail Investment Opportunity in Fort
3569 NW Centre Dr Lake Worth, TX 76135
3569 NW Centre Dr, Lake Worth, TX, 76135
Contact for pricing
For Sale
Contact for pricing
Retail property 100% leased to Harbor Freight Tools.
Property Size16,000 SF
Lot Size1.62 Acres
Price / SF$402.17
Days on Market623
Property Features for 3569 NW Centre Dr
General Information
- Standard status
- Active
- Size
- 16,000 SF
- Lot size
- 1.62 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2020
Listing agency
Colliers - Fort Lauderdale, Florida
Listed by
Christopher Twist · License #FL
Source
Crexi
Added: Nov 7, 2024 Updated: Jul 10 at 11:23AM Checked: Jul 22 at 2:21PM
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 Colliers - Fort Lauderdale, Florida
Investment Insights
Based on property information with market context.
This retail property in Fort Worth, Texas, presents an investment opportunity. Constructed in 2020, the property encompasses 16,000 square feet on a 1.62-acre lot. It is located at 3569 NW Centre Dr, Lake Worth (Fort Worth), Texas 76135. The property is fully leased to Harbor Freight Tools USA, Inc. Harbor Freight Tools has a remaining lease term of over 10 years, with rent increases of 10% every 5 years. Harbor Freight Tools reports revenues exceeding $5 billion and employs over 20,000 people, operating over 1,000 locations across 48 states. The retailer sells home and automotive products, including generators, and all locations are currently open.
Key Highlights
- 100% leased to Harbor Freight Tools USA, Inc.
- Over 10 years remaining on the lease with 10% increases every 5 years.
- Built in 2020.
Local Financial Insights For Retail
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 | $399.4k | $24.96 |
| − Vacancy | −$20.0k | −$1.25 |
| EGI | $379.4k | $23.71 |
| − OpEx | −$113.8k | −$7.11 |
| NOI | $265.6k | $16.60 |
16,000 SF · lease $24.96/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.79M
$3.32M – $4.43M
NOI $265,574 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.63M
$4.92M – $6.57M
NOI $393,984 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Retail property 100% leased to Harbor Freight Tools.
Where is this retail space located?
The property is located at 3569 NW Centre Dr Lake Worth, TX.
What is the asking price?
The asking price for this property is $6,434,665.
What are key features of this property?
This property features: 100% leased to Harbor Freight Tools USA, Inc.; Over 10 years remaining on the lease with 10% increases every 5 years.; Built in 2020.
