6708 Lake Worth BlvdLake Worth, TX 76135

Property Details for 6708 Lake Worth Blvd

Year built

1996

Lot size

5.25 AC

Property size (Sq ft)

48,444 SF

Property type

Retail properties

Property subtype

Outlet malls

APN

23241-1-1

APU

2324111

Description

This exceptional 48,861 square foot shopping center in Lake Worth, Texas, presents a compelling investment opportunity. Anchored by Lowe's, Big Lots, and Spec's, this multi-tenant property boasts a strong 6.25% cap rate and a substantial NOI of $482,804. The property sits on a 6.12-acre lot and benefits from a 10-year net lease (NN+) with built-in rent bumps, ensuring consistent income growth. Renovated in 2022, the center enjoys excellent visibility and accessibility, with over 62,000 vehicles passing daily. Its prime location near major employers like Lockheed Martin and Naval Air Station Fort Worth, along with significant residential development and high-traffic retail centers, guarantees a robust customer base. The property's proximity to Interstate 820 and Fort Worth Meacham International Airport further enhances its strategic value. This is a rare opportunity to acquire a well-positioned, high-performing retail asset in a thriving Texas market with a strong demographic profile and projected income growth. The average household income within a five-mile radius is $92,797, and is projected to increase 12% by 2028. This property is ideally suited for a 1031 exchange. The asking price is $7,725,000.

• CAP approach

  CAP return

  Valuation

  6%

  $13,493,336

  6.5%

  $12,455,387

  7%

  $11,565,716

• Comparable approach

  Method

  Valuation

  Relative Method

  $14,103,508

  Geo Method

  $36,549,196

• Alternative Use

  Use

  Valuation

  Residential

  $10,506,585

  Hospitality

  $9,623,975

  Educational

  $8,007,034

  Medical

  $8,282,408

  Retail

  $12,455,387

Location Insight

City

Lake Worth

County

Tarrant

State

Texas

Latitude

32.8146

Longitude

-97.4346

CBSA code

19100

CBSA name

DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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