Two-Building Multi-Tenant Shopping
For Sale
Contact for pricing
6708 Lake Worth Boulevard, Lake Worth, TX 76135
Two-building shopping center featuring NNN leases with Spec's and Planet Fitness and approximately 10 years weighted term.
Property Size48,861 SF
Price / SF$191.87
Days on Market42
Property Features for 6708 Lake Worth Boulevard
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
Anchor Co-Tenants
Spec's, Planet Fitness
Building Details
Year Built
1996
Year Renovated
2022
Buildings
2
Stories
1
Tenancy
Multi
Listing Agency:
DUWEST
Listed By:
Will Walters · License #TX 596941
Source:
Crexi
Added: Jul 29
Changed: Sep 8
Last Checked: Sep 8 at 8:41AM
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.
SRS National Net Lease Group is pleased to offer the fee simple interest (land and building ownership) in a two-building, multi-tenant retail investment in Lake Worth, Texas. The property totals 48,861 SF and is configured as a shopping center with two separate buildings.
The tenant roster includes Spec’s and Planet Fitness. The current leases are described as NNN in nature, with landlord responsibilities limited to roof, structure, and CAM. The weighted lease term remaining is approximately 10 years, supporting a low-management investment profile.
The offering combines multiple tenants within a compact, two-building retail format, with the lease structure designed to limit landlord obligations to the roof and structural components and CAM responsibilities.
The tenant roster includes Spec’s and Planet Fitness. The current leases are described as NNN in nature, with landlord responsibilities limited to roof, structure, and CAM. The weighted lease term remaining is approximately 10 years, supporting a low-management investment profile.
The offering combines multiple tenants within a compact, two-building retail format, with the lease structure designed to limit landlord obligations to the roof and structural components and CAM responsibilities.
Key Highlights
- Two‑building, multi‑tenant shopping center totaling 48,861 SF
- Fee simple interest includes land and building ownership
- Tenants include 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
Location Intelligence
Trade Area within ½ mile
559
Businesses Nearby
Well-served
Demand for This Use
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
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 - Two-building shopping center featuring NNN leases with Spec's and Planet Fitness and approximately 10 years weighted term.
Where is this shopping center located?
The property is located at 6708 Lake Worth Boulevard 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: Two‑building, multi‑tenant shopping center totaling 48,861 SF; Fee simple interest includes land and building ownership; Tenants include Spec’s and Planet Fitness
