Northern Tool + Equipment NNN
For Sale
Contact for pricing
9621 South Freeway, Fort Worth, TX 76140
The property carries an absolute net lease and corporate lease structure.
Property Size25,449 SF
Price / SF$207.28
Days on Market124
Property Features for 9621 South Freeway
General Information
Standard status
Active
Size
25,449 SF
Total Parking Spaces
125
Property subtype
Retail
Zoning
Commercial
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$369,035
Building Details
Year Built
2006
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Berkeley Capital Advisors Charlotte
Listed By:
Ransome Foose · License #NC 280948
Source:
Crexi
Added: May 1
Changed: Aug 30
Last Checked: Aug 30 at 9:34PM
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 Berkeley Capital Advisors Charlotte
Investment Insights
Based on property information with market context.
The Northern Tool + Equipment property is a 25,449-square-foot commercial asset constructed in 2006. Its lease structure is identified as both absolute net and corporate, providing clear context for evaluating the property as an NNN offering.
Located at 9621 South Freeway in Fort Worth, Texas, the property is within a commercially zoned setting. The address places the asset along South Freeway, while the stated Commercial zoning and established construction date add basic physical and land-use context.
Located at 9621 South Freeway in Fort Worth, Texas, the property is within a commercially zoned setting. The address places the asset along South Freeway, while the stated Commercial zoning and established construction date add basic physical and land-use context.
Key Highlights
- 25,449‑square‑foot commercial property
- Absolute net lease structure
- Corporate lease
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
$409,056
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
7.75%
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%
$8,181,120
$8.2M
Cap Rate 7%
$5,843,657
$5.8M
Cap Rate 9%
$4,545,067
$4.5M
Market Conditions
NOI Build-Up for 25,449 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
$613.8K $24.12/SF
− Vacancy
−$29.5K −$1.16/SF
EGI
$584.4K $22.96/SF
− OpEx
−$175.3K −$6.89/SF
NOI
$409.1K $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%
$8,181,120
Cap Rate 7%
$5,843,657
Cap Rate 9%
$4,545,067
Alternative Uses
Best Use
Retail
$5.84M
$5.11M – $6.82M
NOI $409,056 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.24M
$8.09M – $10.79M
NOI $647,117 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 76140, TX
32,623
Population
10,705
Households
3
Avg Household Size
32
Median Age
18%
College-Educated
79%
High-School Grad
27.3 sq mi
ZIP Area
1,195
Density / Sq Mi
$73,215
Median Household Income
$37,780
Median Earnings
$1,590
Median Rent
$207,800
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?
NNN property - The property carries an absolute net lease and corporate lease structure.
Where is this nnn property located?
The property is located at 9621 South Freeway Fort Worth, TX.
What is the asking price?
The asking price for this property is $5,275,000.
What are key features of this property?
This property features: 25,449‑square‑foot commercial property; Absolute net lease structure; Corporate lease
