Two-Tenant Retail
For Sale
Contact for pricing
6708 LAKE WORTH BLVD, Lake Worth, TX 76135
Recently remodeled retail asset occupied by Spec's and Planet Fitness under NNN lease structures.
Property Size48,861 SF
Price / SF$191.87
Days on Market14
Property Features for 6708 LAKE WORTH BLVD
General Information
Standard status
Active
Size
48,861 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$614,054
Additional Details
Highway Access
Yes
Building Details
Year Built
1996
Year Renovated
2022
Stories
1
Tenancy
Multi
Listing Agency:
DUWEST
(469) 601-0311
Listed By:
Will Walters · License #TX 596941
Source:
Crexi
Added: Aug 10
Changed: Aug 21
Last Checked: Aug 22 at 11:48AM
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 DUWEST
Investment Insights
Based on property information with market context.
This 48,861-square-foot retail property was built in 1996 and recently remodeled for two established operators, Spec's and Planet Fitness. The building is fully leased under NNN structures, with both tenants committed to new 10-year lease terms that include contractual rent growth.
Positioned along Lake Worth Blvd., the property benefits from direct access to Highway 820 and substantial surrounding commercial activity. Lake Worth Blvd. records 44,120 VPD, while Highway 820 carries 116,790 VPD. The site is adjacent to Target-anchored Lake Worth Towne Crossing, which generates 2.7M annual visits, and near a Walmart Supercenter with 2.9M annual visits.
Additional employment centers in the surrounding area include Lockheed Martin, with 16,900 employees, and Naval Air Station JRB, with 10,000 employees. The tenant roster, lease duration, and rent-growth provisions provide defined operating structure for the property.
Positioned along Lake Worth Blvd., the property benefits from direct access to Highway 820 and substantial surrounding commercial activity. Lake Worth Blvd. records 44,120 VPD, while Highway 820 carries 116,790 VPD. The site is adjacent to Target-anchored Lake Worth Towne Crossing, which generates 2.7M annual visits, and near a Walmart Supercenter with 2.9M annual visits.
Additional employment centers in the surrounding area include Lockheed Martin, with 16,900 employees, and Naval Air Station JRB, with 10,000 employees. The tenant roster, lease duration, and rent-growth provisions provide defined operating structure for the property.
Key Highlights
- 48,861 SF two‑tenant retail property
- Recently remodeled; built in 1996
- 100% leased to Spec's and Planet Fitness
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
$811,014
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
8.65%
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%
$16,220,280
$16.2M
Cap Rate 7%
$11,585,914
$11.6M
Cap Rate 9%
$9,011,267
$9.0M
Market Conditions
NOI Build-Up for 48,861 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
$1.22M $24.96/SF
− Vacancy
−$61.0K −$1.25/SF
EGI
$1.16M $23.71/SF
− OpEx
−$347.6K −$7.11/SF
NOI
$811.0K $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 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%
$16,220,280
Cap Rate 7%
$11,585,914
Cap Rate 9%
$9,011,267
Alternative Uses
Best Use
Retail
$11.59M
$10.14M – $13.52M
NOI $811,014 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.19M
$15.04M – $20.05M
NOI $1,203,153 @ 7.0% cap · market cap 12.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
559
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Recently remodeled retail asset occupied by Spec's and Planet Fitness under NNN lease structures.
Where is this retail space located?
The property is located at 6708 LAKE WORTH BLVD Lake Worth, TX.
What is the asking price?
The asking price for this property is $9,375,000.
What are key features of this property?
This property features: 48,861 SF two‑tenant retail property; Recently remodeled; built in 1996; 100% leased to Spec's and Planet Fitness
