6621 Fossil Bluff DrFort Worth, TX 76137

Property Details for 6621 Fossil Bluff Dr

Year built

2000

Lot size

1.74 AC

Property size (Sq ft)

7,304 SF

Property type

Turn key restaurants

APN

12752H-3-4R

APU

12752H34R

Description

This exceptional investment opportunity presents the chance to acquire Landmark Bar & Kitchen, a thriving 7,304-square-foot restaurant located at 6621 Fossil Bluff Dr, Fort Worth, Texas 76137. The property boasts a prime location at the northeast quadrant of I-35 and Western Center Blvd in northern Fort Worth, offering excellent visibility and accessibility. Currently operating under a triple net (NNN) lease with a strong tenant, Landmark Bar & Kitchen, the lease commenced January 31, 2024, and extends for a total of 10 years, expiring January 31, 2034. The lease includes a base rent of $34 per square foot, with a 10% rent increase every five years. The property's Net Operating Income (NOI) is $248,336, resulting in a compelling 6.50% cap rate. The asking price is $3,819,600, translating to $566.54 per square foot. This investment benefits from a 1.75-acre lot size and is situated within a thriving area with a population of 103,101 within a 3-mile radius, a daytime population of 97,631, and average household incomes of $92,559. The tenant, Landmark Bar & Kitchen, is part of One Entertainment Group, a reputable restaurant group with a proven track record. The property's current occupancy is 100%. This is a rare opportunity to acquire a high-performing, established restaurant with a long-term lease in a desirable location. The property is zoned for bar/restaurant use. The lease includes two renewal options at market rate. Landmark Fw Holdings LLC serves as the guarantor.

• CAP approach

  CAP return

  Valuation

  6%

  $2,034,418

  6.5%

  $1,877,924

  7%

  $1,743,786

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,126,414

  Geo Method

  $4,842,386

• Alternative Use

  Use

  Valuation

  Residential

  $1,584,099

  Hospitality

  $1,451,026

  Educational

  $1,207,237

  Medical

  $1,248,756

  Retail

  $1,877,924

Location Insight

City

Fort Worth

County

Tarrant

State

Texas

Latitude

32.8624

Longitude

-97.3119

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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