6464 Brentwood Stair - A Renovated Investment Opportunity
Credit Rated Single Tenant in Fully Renovated Building Four Years left + Renewals
Marketing description
6464 Brentwood Stair is an excellent stabilized investment opportunity. The building is well-cared for, and was fully renovated between 2016-2019. The building is 100% occupied to an A+ Credit Tenant with net assets of $157,122,519 as of 2022 and a 2023 operating budget of over $131,000,000.
The property is well-situated on I-820 and I-30, with VPD’s exceeding 250k per day in a highly populated area with 226,666 population in a 5-mile radius. In short - this is an excellent stabilized investment that offers an extraordinarily strong tenant, and a hedge against inflation with 3% annual bumps.
Investment highlights
Building Class & Condition - A well-cared for Class-A building with slate of renovations performed in 2016, 2018, and 2019. In 2016, a new elevator was installed along with new exterior doors and new ADA compliant bathrooms were installed, along with other ADA compliance upgrades. In 2018, a brand-new roof with R-30 insulation was installed, making this roof energy efficient. In 2019, more energy efficiency upgrades were made, this time with a complete LED retrofit for every light in the building, and brand-new HVAC systems with economizers. In addition, the entire parking lot was resurfaced and restriped, new landscaping and irrigation was installed along with new parking lot fencing, and the inside of the building was completely resurfaced and painted. Two new break rooms were added, new flooring was installed in 100% of the building along with new doors and hardware, alarm and access control, and new signs.
100% Occupancy - The property is 100% Occupied with an A+ credit tenant that has operated since 1915 – ACH Child and Family Services. The tenants website is found here: ACHservices.org/about. As of the 2022 public report, ACH’s net assets were $157,122,519; its 2023 operating budget is $131,167,144. The company is a 501(c)(3) public charity that derives 83% of its funding from State contracts, and provides critical support to children and families.
Exceptional Location - Centrally and extraordinarily well-located in the DFW metroplex, sitting just off the intersection of Interstate 820 and Interstate 30 in East Fort Worth, the property rests at the center of 2 major arteries that move hundreds of thousands of vehicles per day (VPD) around the 4th largest metropolitan area in the US. Per the Texas Department of Transportation (TXDOT), Interstate 30 sees 139,986 VPD, Interstate 820 sees 115,563 VPD, and Brentwood Stair itself saw 13,184 VPD in 2022, increasing to 14,812 in 2023.
Highly Populated - Exceptional demographics with population of 16,653 within 1 mile, 75,266 within 3 miles, and 226,666 within 5 miles, with an average age of 36-37, and an average of 2% annual population growth forecasted between 2023-2026. (Per CoStar)
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