3924 Tarrant Pkwy Fort Worth, TX 76244
- Retail properties
- 5,627 SF
- 0.13 lot acres
Current Use by Public Records
- Jordan J. Pierce, OD / Optometrist
- Aaron Lee, OD / Optometrist
- Robert Li / Optometrist
- Clarkson Eyecare Keller / Optometrist / Eye Care Center
Property Details for 3924 Tarrant Pkwy
- Year built
- 2015
- Lot size
- 0.13 lot acres
- Property size
- 5,627 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional investment opportunity presents a fee-simple interest in a 5,627 square foot, single-tenant medical office building in Fort Worth, Texas. The property, built in 2015, is situated on a 0.13-acre lot with 30 parking spaces and boasts a prominent location on N Tarrant Parkway, benefiting from high visibility and significant daily traffic (29,768 vehicles). Clarkson Eyecare, a reputable tenant with over 200 locations, occupies the entire building under a triple-net (NNN) lease with approximately 2.3 years remaining on the initial 5-year term, followed by three 5-year renewal options. The lease structure minimizes landlord responsibilities, making this an ideal low-management investment. The property offers a strong 6.93% cap rate with a net operating income (NOI) of $131,762 and an asking price of $1,900,000 ($337.66/sq ft). The surrounding area features a robust population (over 280,000 within a 5-mile radius) and a high average household income ($138,710), further enhancing the investment's appeal. Nearby businesses include Walmart, Walgreens, CVS Pharmacy, and Starbucks, and Medical City Alliance hospital is less than a mile away. The property's strong tenant, favorable lease terms, and prime location combine to create a compelling investment opportunity. The property's APN is 30237C-A-100.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Worth
- County
- Tarrant
- State
- Texas
- Longitude
- -97.3031
- Latitude
- 32.8954
