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29346589
29346590

6704 Lake Worth Blvd, Lake Worth, TX 76135

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 Newport Beach
$9,400,000
134 days on market
Updated 95 days ago

Spec's & Planet Fitness

Details
APN 47339K-1-1A
Property Type Retail
Sub Type Storefront, Fitness
Square Footage 48,861
Cap Rate 6.53%
NOI $614,054
Occupancy 100%
Tenancy Multi
Brand/Tenant Planet Fitness, Spec's
Price per SqFt $192
Year Built 1996
Year Renovated 2025
Acreage 5.240
Zoning HC: Highway Corridor District
Parking Spaces 358 spaces
Parking Per SqFt 7.33
Ownership Fee Simple (Land & Building Ownership)

Retail | 6.53% CAP | 48,861 SqFt

Marketing description

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 2-building, multi-tenant retail investment opportunity in Lake Worth, Texas. The offering features a diverse lineup of tenants including Spec’s and Planet Fitness, which have approximately 10 years of weighted lease term remaining on their current leases. The leases are NNN in nature with landlord responsibilities limited to roof, structure, and CAM, making it an ideal, low management investment opportunity.

The two-tenant site is located along Lake Worth Boulevard with excellent frontage visibility along this high-trafficked street with approximately 48,800 vehicles per day. Lake Worth Boulevard is the major retail thoroughfare serving the City of Lake Worth. The two-tenant strip is located near Lake Worth Towne Crossing, a Target-anchored center that also features national/credit tenants including Five Below, Ross Dress for Less, PetSmart, Hobby Lobby, and Michaels. In addition, the asset is also near Lake Worth Marketplace, a shopping center anchored by Kohl’s and Marshalls, along with other national/credit tenants. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Walmart Supercenter, AMC Theaters, Home Depot, Lowe’s, Chipotle, Starbucks, Dollar General, Staples, and more, further increasing consumer traffic to the site. The property is located in a highly trafficked corridor with access to Interstate 820 with an average traffic count of 111,700 vehicles per day. The subject property is located in the 5-mile trade area supported by a population of over 164,000 and over 46,000 employees with an average household income of $104,871.

Investment highlights

  • Multi-Tenant Retail Opportunity | Options To Extend | 10 Years WALT

  • NNN Lease | Fee Simple Ownership | Zero Landlord Responsibilities

  • Across Near Target Anchored Center | Dense Retail Corridor | Highly Trafficked Area | Frontage Visbility

  • Strong Demographics In 5-Mile Trade Area

Listing Contacts

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 Newport Beach

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$614,054.00
$51,171.17/mo

Valuation Metrics

0
DSCR
6.53%
Cap Rate
6.53%
ROI

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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
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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