3924 Tarrant PkwyFort Worth, TX 76244

For Sale
$1,900,000

Clarkson Eyecare, strong tenant, 6.93% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
91
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.

Highlights

  • Over two years remaining on the initial lease term.
  • Clarkson Eyecare holds three, five-year lease extension options.
  • Clarkson Eyecare, a large, established tenant with over 200 locations, occupies the space.
  • Excellent street visibility with significant frontage and a prominent monument sign on N Tarrant Parkway.
  • High traffic location on N Tarrant Parkway, averaging 29,768 vehicles daily.
  • Less than one mile from Medical City Alliance hospital.

Property Details for 3924 Tarrant Pkwy

Property type
Other retail properties, Other office properties
Square Feet
5,627 SF
Year Built
2015
Buildings
1
Stories
1
Lot Size (sq. ft)
5,663 SF
Units
1

Location Insight

City
Fort Worth
County
Tarrant
State
Texas
Latitude
32.895388123681
Longitude
-97.30306553387
3924 Tarrant Pkwy, Fort Worth, Texas

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3924 Tarrant Pkwy
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