30.99+/- Acres & 5.068+/- Acres Fort Worth, TX
Land | 36.058 acres
Marketing description
Vanguard Real Estate Advisors (“VREA”) has been exclusively retained by Ownership to offer the opportunity to purchase two development Sites located at 8932 Balch Street, 9128 Crimson Lane, 9105 Azure Lane, and 9501 South Race Street in Fort Worth, TX. These sites can be bought together or separately. This offering has a concept plan for 372 dwelling units—120 units on the North Site (5.068+/- acres and zoned for multifamily) and 252 units on the South Site (30.99+/- acres and zoned for townhomes).
Both Sites are located just 2 miles east of Interstate 35 and 2.5 miles south of Interstate 20, two major thoroughfares that provide excellent accessibility. These Sites are located near key community amenities including Everman High School and Johnson Park, adding to their appeal for future residents. A hub of the south central Tarrant County industrial submarket is located a mile west from the Sites, giving future residents excellent employment opportunities. With pricing at just $3.75 per square foot for the North Site and $1.50 per square foot for the South Site, this is a great opportunity to acquire well-located entitled land in a high-demand area.
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Due Diligence Vault - 30.99+/- Acres & 5.068+/- Acres
A 3% co-broker fee is available to a Co-Broker that sources a Principal that VREA has not previously contacted in any format or sent information regarding this opportunity; a third party broker must register their client upon initial contact with VREA.
Investment highlights
The approximately 30.99+/- acre and 5.068+/- acre sites, across the street from one another, are well located in a prime area, just 2 miles east of Interstate 35 west, a major thoroughfare in the Fort Worth Metroplex. The Sites are also 2.5 miles south of Interstate 20, another major east–west thoroughfare, allowing great access for future residents.
The Sites are within walking distance of Johnson Park, which includes a dog park, baseball fields, and a basketball court.
Schools within a half mile radius of the Sites are Everman High School, Everman Junior High School, and Hommel and J.W. Bishop Elementary School, all of which are in the Sites’ attendance zone.
The existing zoning for the North Site is “D- High Density Multifamily” which allows for a maximum of 32 dwelling units per acre. On the South Site the zoning is “R2 – Townhouse/Cluster Residential” which allows one-family attached townhouse/rowhouse dwellings, maximum of 24 units/acre and a maximum building facade length of 250 feet.
Per the US Census Bureau, the population of Everman in 2023 was 6,600 and is anticipated to grow.
Per CoStar, rent growth in the southwest Fort Worth submarket over the past year has averaged 3.7% compared to the DFW MSA average of 3.5%.
Per CoStar, the average effective rent in southeast Fort Worth submarket is $1,500 a month.
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