Downtown Fort Worth Development
For Sale
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1119 W 5th St, Fort Worth, TX 76102
Prime development site near Sundance Square in downtown Fort Worth.
Property Size8,940 SF
Lot Size0.23 Acres
Price / SF$153.80
Days on Market795
Property Features for 1119 W 5th St
General Information
Standard status
Active
Size
8,940 SF
Lot size
0.23 Acres
Property subtype
Industrial, Land
Zoning
"H" Downtown No Height Restriction
Investment Type
Redevelopment
Site & Location
Neighborhood
Downtown
Building Details
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
Transwestern Houston
Listed By:
Bill Behr · License #TX 351049
(817) 259-3519
Source:
Crexi
Added: Aug 27, 2024
Changed: Oct 25
Last Checked: Oct 28 at 8:33AM
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 Transwestern Houston
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Investment Insights
Based on property information with market context.
This is an opportunity to acquire a nearly quarter-acre development site in downtown Fort Worth, located blocks from Sundance Square and the central business district. The property, situated at 1119 W. 5th Street between Summit Avenue and Lexington Street, consists of 10,150 square feet of land. Zoned "H" Central Business, the property allows for the development of a high-rise office building, townhomes, or multifamily apartments without height restrictions. This provides an opportunity for a low land basis on a future building per square foot basis. The property falls within the Downtown Urban Design District (DUDD) overlay. An existing 8,940-square-foot warehouse can be leased out during the planning and design phases of a development project, potentially reducing the overall basis in the parcel.
Key Highlights
- Prime downtown Fort Worth development site, blocks from Sundance Square and the Central Business District.
- Large 10,150 sq ft lot (nearly quarter‑acre) offering substantial development potential.
- "H" Central Business zoning allows for high‑rise office, townhomes, or multifamily apartments with no height restrictions.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,894
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,237,880
$1.2M
Cap Rate 7%
$884,200
$884.2K
Cap Rate 9%
$687,711
$687.7K
Market Conditions
NOI Build-Up for 8,940 SF
Gross rent
$80.5K $9.00/SF
− Vacancy
−$7.6K −$0.86/SF
EGI
$72.8K $8.15/SF
− OpEx
−$10.9K −$1.22/SF
NOI
$61.9K $6.92/SF
Area
Fort Worth, TX
Vacancy
9.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,237,880
Cap Rate 7%
$884,200
Cap Rate 9%
$687,711
Alternative Uses
Best Use
Warehouse
$884.2K
$773.7K – $1.03M
NOI $61,894 @ 7.0% cap · market cap 4.50%
Second Best
Industrial
$805.8K
$705.1K – $940.1K
NOI $56,408 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$3.25M
$2.84M – $3.79M
NOI $227,326 @ 7.0% cap · market cap 16.53%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,716
Businesses Nearby
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Business Placement
Demographics for 76102, TX
13,236
Population
5,629
Households
2.4
Avg Household Size
36
Median Age
37%
College-Educated
86%
High-School Grad
4.5 sq mi
ZIP Area
2,941
Density / Sq Mi
$74,293
Median Household Income
$49,295
Median Earnings
$1,661
Median Rent
$338,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Commercial land - Prime development site near Sundance Square in downtown Fort Worth.
Where is this commercial land located?
The property is located at 1119 W 5th St Fort Worth, TX.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Prime downtown Fort Worth development site, blocks from Sundance Square and the Central Business District.; Large 10,150 sq ft lot (nearly quarter‑acre) offering substantial development potential.; "H" Central Business zoning allows for high‑rise office, townhomes, or multifamily apartments with no height restrictions.
