3569 Centre Dr Lake Worth, TX 76135
- Retail space
- 15,965 SF
- 1.65 lot acres
Current Use by Public Records
- Harbor Freight Tools / Hardware Store / Tool Store
Property Details for 3569 Centre Dr
- Year built
- 2020
- Lot size
- 1.65 lot acres
- Property size
- 15,965 SF
- Property type
- Retail space
- APN
- 31256L-13-2
- APU
- 31256L132
Description
This exceptional investment opportunity presents a 16,000-square-foot, two-story storefront in Lake Worth, Texas. Located at 3569 NW Centre Dr, 76135, this property sits on a 1.62-acre lot and boasts a 6.00% cap rate. Built in 2020, the building is currently 100% occupied by a single tenant, Harbor Freight Tools, under a Net Lease (NNN) agreement. The lease, with a corporate guarantee and investment-grade credit, extends until July 30, 2035, offering a remaining term of 10.7 years. Rent increases are built in, with a 10% bump every five years, ensuring consistent income growth. The property generates a substantial Net Operating Income (NOI) of $386,080 annually. This is a prime retail location in a growing Fort Worth suburb, offering minimal landlord responsibilities and significant long-term value. The tenant's strong financial performance and the property's excellent location make this a compelling investment opportunity in a thriving retail corridor. The property's strong financials, long-term lease, and built-in rent increases provide a stable and secure investment for years to come. This is a rare chance to acquire a high-quality, net-leased property with a well-established tenant in a desirable market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fort Worth
- County
- Tarrant
- State
- Texas
- Longitude
- -97.4294
- Latitude
- 32.8094
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
