3924 Tarrant PkwyFort Worth, TX 76244

Property Details for 3924 Tarrant Pkwy

Year built

2015

Lot size

0.13 AC

Property size (Sq ft)

5,627 SF

Property type

Retail properties

Property subtype

Office properties

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.

Location Insight

City

Fort Worth

County

Tarrant

State

Texas

Latitude

32.8954

Longitude

-97.3031

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