2317 Handley DrFort Worth, TX 76112

Property Details for 2317 Handley Dr

Year built

1965

Lot size

0.49 AC

Property size (Sq ft)

2,214 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

13320--20R

APU

1332020R

Description

This exceptional mixed-use property, located at 2317 Handley Dr, Fort Worth, TX 76112, presents a compelling investment opportunity. The 2,214 square foot building, constructed in 1965 and renovated in 2018, sits on a single story and is currently operating as a 100% occupied daycare center, offering a strong, stable income stream. The property boasts a Net Operating Income (NOI) of $21,600, resulting in a 3.93% cap rate. The current lease is a gross lease with a 5-year term commencing February 25, 2020, and expiring March 25, 2025. Early lease termination is possible with 30 days' notice. The property's zoning is Commercial Office, allowing for diverse uses. Its strategic location in East Fort Worth provides easy access to major highways I-30 and I-820, ensuring high visibility and convenient access. The large courtyard and ample parking offer significant expansion potential. The property's versatility allows for conversion into an event center, medical office, or other commercial ventures. The asking price is $549,000. This property offers a blend of immediate income and long-term growth potential, making it an attractive investment in a thriving Fort Worth market. The property is situated near other major retailers such as CVS, Family Dollar, and O'Reilly Auto Parts.

• CAP approach

  CAP return

  Valuation

  6%

  $311,289

  6.5%

  $287,344

  7%

  $266,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $245,009

  Geo Method

  $662,849

• Alternative Use

  Use

  Valuation

  Residential

  $356,307

  Hospitality

  $326,375

  Educational

  $271,540

  Medical

  $280,879

  Retail

  $422,396

Location Insight

City

Fort Worth

County

Tarrant

State

Texas

Latitude

32.7451

Longitude

-97.2158

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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