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5864 North Tarrant Parkway, Fort Worth, TX 76244
The center is fully leased, with average base lease expirations in October 2034.
Property Size9,770 SF
Price / SF$386.39
Days on Market5
Property Features for 5864 North Tarrant Parkway
General Information
Standard status
Active
Size
9,770 SF
Property subtype
Retail
Occupancy
100%
Building Details
Tenancy
Multi
Listing Agency:
SHOP Companies
Listed By:
Tommy Tucker · License #850939
(214) 960-2887
Source:
Crexi
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:25PM
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 SHOP Companies
Investment Insights
Based on property information with market context.
This 9,770-square-foot neighborhood shopping center at 5864 North Tarrant Parkway in Fort Worth is fully leased to three businesses: Uptown Cheapskate, Children’s Art Classes, and Bricks & Mini Figs. Average base lease expiration is October 2034.
The property is across from land owned by H-E-B Grocery Company, LP. Watauga Towne Shopping Center and Watauga Towne Center are nearby; together, they contain more than 196,400 square feet of retail space and include Target, Marshalls, Dollar Tree, Petco, and Fitness Connection.
The property is across from land owned by H-E-B Grocery Company, LP. Watauga Towne Shopping Center and Watauga Towne Center are nearby; together, they contain more than 196,400 square feet of retail space and include Target, Marshalls, Dollar Tree, Petco, and Fitness Connection.
Key Highlights
- 9,770‑square‑foot neighborhood shopping center
- Three tenants; 100% leased
- Average base lease expiration: October 2034
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
$157,039
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
4.16%
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%
$3,140,780
$3.1M
Cap Rate 7%
$2,243,414
$2.2M
Cap Rate 9%
$1,744,878
$1.7M
Market Conditions
NOI Build-Up for 9,770 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
$235.7K $24.12/SF
− Vacancy
−$11.3K −$1.16/SF
EGI
$224.3K $22.96/SF
− OpEx
−$67.3K −$6.89/SF
NOI
$157.0K $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%
$3,140,780
Cap Rate 7%
$2,243,414
Cap Rate 9%
$1,744,878
Alternative Uses
Best Use
Retail
$2.24M
$1.96M – $2.62M
NOI $157,039 @ 7.0% cap · market cap 4.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,432 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
335k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 32%
Home Improvements & Furnishings 18%
Shops & Services 16%
Dining 16%
Kohl's
Apparel
61,448 visits/mo
0.3 miles
The Home Depot
Home Improvements & Furnishings
49,824 visits/mo
0.3 miles
Marshalls
Apparel
42,531 visits/mo
0.3 miles
Michaels
Shops & Services
31,062 visits/mo
0.3 miles
Bath & Body Works
Beauty & Spa
25,483 visits/mo
0.4 miles
Demographics for 76244, TX
77,154
Population
26,098
Households
3
Avg Household Size
33
Median Age
45%
College-Educated
96%
High-School Grad
14.9 sq mi
ZIP Area
5,178
Density / Sq Mi
$119,542
Median Household Income
$62,021
Median Earnings
$1,954
Median Rent
$363,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - The center is fully leased, with average base lease expirations in October 2034.
Where is this shopping center located?
The property is located at 5864 North Tarrant Parkway Fort Worth, TX.
What is the asking price?
The asking price for this property is $3,775,000.
What are key features of this property?
This property features: 9,770‑square‑foot neighborhood shopping center; Three tenants; 100% leased; Average base lease expiration: October 2034
