1005 Norwood St Fort Worth, TX 76107-2930
- Bars
- 10,126 SF
- 0.27 lot acres
Dec 21, 2021
Current Use by Public Records
- Maya Tequila Ranch / Night Club
Property Details for 1005 Norwood St
- Year built
- 1978
- Lot size
- 0.27 lot acres
- Property size
- 10,126 SF
- Property type
- Bars
- Property subtype
- Pubs
- APN
- 44480-12-1R
- APU
- 44480121R
Description
This exceptional investment opportunity presents a 14,550-square-foot bar and restaurant in Fort Worth, Texas, currently operating at 100% occupancy. The property, built in 1978 and renovated in 2024, sits on a 0.27-acre lot at 1005 Norwood St, 76107, a high-traffic corner location. The absolute NNN lease commenced September 1, 2024, and runs for 12 years, expiring September 30, 2036, with built-in rent increases in year 7 and two 5-year option periods, also with rent increases. The property boasts a strong net operating income (NOI) of $383,199, resulting in a 6.5% cap rate. The asking price is $5,895,384, translating to $405.18 per square foot. Situated in Fort Worth's Cultural District, the property benefits from high traffic counts exceeding 21,890 vehicles per day and is surrounded by numerous entertainment venues, retailers, museums, stadiums, and tourist attractions generating over $3 billion in annual economic impact. The property's strong tenant, combined with the long-term lease and built-in rent increases, makes this a compelling investment opportunity. The two-story building offers a significant presence in a thriving area with a population of 281,336 within a 5-mile radius and an average household income exceeding $130,200 within a 1-mile radius.
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
- -97.36
- Latitude
- 32.749
- CBSA code
- 19100
- CBSA name
- DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
