For Sale
$6,434,665

3569 Centre DrLake Worth, TX 76135

High-Cap Rate NNN Storefront

Overview

Added:
Dec 11, 2024
Days on market:
117
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.

Highlights

  • $6,434,665 asking price for a 16,000 SF retail storefront.
  • Net lease investment with a credit-rated corporate guarantee from Harbor Freight Tools.
  • 10.7 years remaining on the lease, expiring 07/30/2035, with 10% rent bumps every 5 years.
  • 6.00% cap rate and $386,080 annual net operating income (NOI).
  • Located in Lake Worth, TX (Fort Worth area), on a 1.62-acre lot, built in 2020.

Property Details for 3569 Centre Dr

Property type
Retail properties, Retail space
Square Feet
16,000 SF
Year Built
2020
Buildings
1
Stories
2
Lot Size (sq. ft)
70,567 SF

Location Insight

City
Lake Worth
County
Tarrant
State
Texas
Latitude
32.80916843131
Longitude
-97.429433171138
3569 Centre Dr, Lake Worth, Texas

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3569 Centre Dr
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