8428 Denton Hwy Watauga, TX 76148

Property Details for 8428 Denton Hwy

Year built

1998

Lot size

6.62 lot acres

Property size

56,346 SF

Property type

Individual retail properties

APN

5969--2

APU

59692

Description

This exceptional investment opportunity presents a 61,110-square-foot Fitness Connection storefront in Watauga, Texas. Boasting a strong 8.00% cap rate and a substantial net operating income (NOI) of $787,097, this property offers a secure, passive income stream. The absolute NNN lease with a corporate guarantee ensures minimal landlord responsibilities, with the tenant covering all taxes, insurance, and common area maintenance. The lease, commencing May 1, 2019, and expiring September 30, 2034, has approximately 9.9 years remaining, providing long-term stability. Rent bumps of approximately 5% per option further enhance the investment's potential. Situated on a 6.62-acre lot at the highly visible intersection of Denton Hwy and N Tarrant Pkwy (approximately 63,000 vehicles per day), this location benefits from proximity to major retailers including The Home Depot, Target, Walmart, and a planned H-E-B grocery store. The property, built in 1998 and renovated in 2018, is part of a thriving retail corridor with high average household incomes ($144,000 within a 1-mile radius). Fitness Connection, a leader in the fitness industry with over 40 locations, occupies the entire space at 100% occupancy. The asking price is $9,838,712, translating to $161 per square foot. Texas's favorable tax environment, without state income or investment taxes, adds further appeal to this compelling investment.

Location Insight

City

Watauga

County

Tarrant

State

Texas

Longitude

-97.2571

Latitude

32.8934

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments