Retail Investment Opportunity in Fort
For Sale
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3569 NW Centre Dr, Lake Worth, TX 76135
Retail property 100% leased to Harbor Freight Tools.
Property Size16,000 SF
Lot Size1.62 Acres
Price / SF$402.17
Days on Market715
Property Features for 3569 NW Centre Dr
General Information
Standard status
Active
Size
16,000 SF
Lot size
1.62 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$386,080
Building Details
Year Built
2020
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
Colliers - Fort Lauderdale, Florida
Listed By:
Christopher Twist · License #FL
(561) 602-8390
Source:
Crexi
Added: Nov 7, 2024
Changed: Oct 16
Last Checked: Oct 20 at 6:53PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$265,574
Cap Rate
4.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,311,480
$5.3M
Cap Rate 7%
$3,793,914
$3.8M
Cap Rate 9%
$2,950,822
$3.0M
Market Conditions
NOI Build-Up for 16,000 SF
Gross rent
$399.4K $24.96/SF
− Vacancy
−$20.0K −$1.25/SF
EGI
$379.4K $23.71/SF
− OpEx
−$113.8K −$7.11/SF
NOI
$265.6K $16.60/SF
Area
Tarrant County, TX
Vacancy
5.00%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,311,480
Cap Rate 7%
$3,793,914
Cap Rate 9%
$2,950,822
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Explore this area
Business Placement
Demographics for 76135, TX
22,009
Population
8,148
Households
2.7
Avg Household Size
37
Median Age
22%
College-Educated
90%
High-School Grad
25.6 sq mi
ZIP Area
860
Density / Sq Mi
$70,590
Median Household Income
$41,535
Median Earnings
$1,210
Median Rent
$250,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
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.
