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29127258
29127259

6543 Lake Worth Blvd, Lake Worth, TX 76135

MK
TX 771801, NV S.0189416.LLC
SRS Real Estate Partners - Global Company
BR
NY 10491212709
SRS Real Estate Partners New York
KF
NY 10401281546, NJ 2441197
SRS Real Estate Partners New York
MM
CA 01732226
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners - Global Company, SRS Real Estate Partners New York, SRS Real Estate Partners Newport Beach
$5,394,000
147 days on market
Updated 62 days ago

Starbucks & Chase Bank | Fort Worth, TX

Details
APN 23245F---A----2---91
Property Type Retail
Sub Type Bank, Restaurant
Square Footage 6,076
Cap Rate 6%
NOI $323,616
Occupancy 100%
Tenancy Multi
Brand/Tenant Starbucks, Chase Bank
Lease Type NNN
Price per SqFt $888
Year Built 2006
Acreage 0.480
Zoning Planned Commercial
Parking Spaces 66 spaces
Parking Per SqFt 10.86
Ownership Fee Simple (Land & Building)

Retail | 6.00% CAP | 6,076 SqFt

Marketing description

SRS Multi-Tenant Investments pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, drive-thru equipped, multi-tenant retail building investment property located in Fort Worth, Texas. The offering features a strong, e-commerce resistant tenant lineup of Starbucks and Chase Bank. Both tenants recently exercised a 5 year option to extend, with future 5-year options remaining, demonstrating commitment to the site. The leases are signed by their respective corporate entities, Starbucks Corporation (S&P: BBB+) and JPMorgan Chase Bank N.A. (S&P: AA-). The tenants operate under NNN leases, limiting expense leakage for a future investor.

The asset is located in front of the major signalized intersection of State Highway 199 & Charbonneau Street, averaging over 42,900 vehicles per day. The property benefits from its close proximity to the on/off ramps to Interstate 820 (104,100 VPD). The building features a 5-lane drive-thru catering to both Starbucks and Chase Bank customers. On average, stores with drive-thrus experience higher sales than those without them. It is situated directly across from the high-performing Lake Worth Towne Crossing, a heavily trafficked community shopping center that draws over 5.1 million visitors per year (according to Placer.ai). The 255,000 SF center includes notable tenants such as Target, Hobby Lobby, Ross Dress for Less, Conn’s, Pet Smart, and Chick-fil-A. Other nearby national/credit tenants include Walmart Supercenter (2.9 million annual visitors – Placer.ai), Albertsons, The Home Depot, Lowe’s Home Improvement, Best Buy, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The property is conveniently located adjacent to the Reserve at Quebec (296 units), Wildwood Branch (280 units), Ascent Lake Worth (265 units), Lakeview (260 units), Summit on the Lake (198 units), and Shady Oaks Manor (138 units), providing a direct residential base to draw from. The 5-mile trade area is supported by a population of over 167,500 residents and 50,200 employees, with an affluent average household income of $103,618.

Investment highlights

  • Occupied by two investment grade tenants, Starbucks Corporation (S&P: BBB+) and JPMorgan Chase Bank N.A. (S&P: A+) with corporate backed leases
  • Both tenants recently exercised their first renewal option demonstrating their commitment to the site
  • Starbucks recently completed renovations and Chase Bank has over $206M in deposits (25%+ market share)
  • Both tenants feature drive-thru lanes
  • In front of the major signalized intersection of State Highway 199 & Charbonneau Street (42,900 VPD)
  • Located directly across from the high performing Lake Worth Towne Crossing | Notable tenants including Target, Hobby Lobby, Ross Dress for Less, Conn’s, Pet Smart, and Chick-fil-A
  • Nearby national/credit tenants including Walmart Super Center (3.1M annual visitors – Placer.ai), Albertsons, The Home Depot, Lowe’s Home Improvement, Best Buy, and more
  • More than 167,500 residents (AHHI $103,618) and 50,200 employees in the 5-mile trade area

Listing Contacts

MK
TX 771801, NV S.0189416.LLC
SRS Real Estate Partners - Global Company
BR
NY 10491212709
SRS Real Estate Partners New York
KF
NY 10401281546, NJ 2441197
SRS Real Estate Partners New York
MM
CA 01732226
SRS Real Estate Partners Newport Beach
PL
CA 01912215, NV S.0169792 (+1)
SRS Real Estate Partners Newport Beach
Listed by SRS Real Estate Partners - Global Company, SRS Real Estate Partners New York, SRS Real Estate Partners Newport Beach

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$323,616.00
$26,968.00/mo

Valuation Metrics

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6%
Cap Rate
6%
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Additional Information

Name
Ryan Johnson
License
TX License No. 525292
Brokerage
SRS Real Estate Partners-Southwest, LLC
Title
Broker of Record
Name
Michael Kaplan
License
771801
Brokerage
SRS Real Estate Partners
Brokerage Address
8144 Walnut Hill Lane
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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