This exceptional investment opportunity presents a fee-simple ownership of a 45,000 square foot, Class A, single-tenant LA Fitness shopping center in Westworth Village, Texas. Located at 6500 Westworth Blvd, 76114, this property boasts a 100% occupancy rate with a credit-rated tenant under an absolute NNN lease. The 15-year lease, commencing January 1, 2008, includes three 5-year options, with rent bumps every five years, capped at the lesser of CPI or 8%. The property sits on a 4.13-acre lot and features a strong NOI of $600,000, yielding a 5.75% cap rate at an asking price of $10,435,000 ($231/sq ft). The property benefits from its location in a primary commercial node, surrounded by major retailers like Target and Walmart, numerous restaurants, and several recently constructed high-density apartment complexes. Its proximity to Lockheed Martin Corp and the Naval Air Station Joint Reserve Base, along with its convenient access to the Dallas-Fort Worth International Airport, further enhances its investment appeal. The high-income demographic in the immediate area, averaging over $144,000 annual household income, contributes to the property's strong performance and future potential. This sale-leaseback transaction offers a secure, passive income stream with significant upside potential in a rapidly growing market with no state income tax. The property's strong location and tenant history make it a compelling investment opportunity.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
Alternative Use
Use
Valuation
Residential
$58,652,796
Hospitality
$53,725,644
Educational
$44,699,108
Medical
$46,236,376
Retail
$69,531,944
Location Insight
City
Westworth Village
County
Tarrant
State
Texas
Latitude
32.7561
Longitude
-97.4257
CBSA code
19100
CBSA name
DALLAS-FORT WORTH-ARLINGTON, TX METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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