The Merritt Condominiums
36 Condos | Built in 2025 | 40% Leased | Zoned MU-1 Allows for STR | Boutique Hotel Opportunity
Marketing description
The Merritt Condominiums Is A 36-Unit Development In The Highly Sought After River District Area Of Fort Worth, Texas. Built In 2025, This Trophy Asset Has A Brick/Stucco Exterior, Concrete Foundations And Parking Lot, With Pitched Composition Roofs And Beautiful Manicured Landscaping. This Development Consists Of 4 Total Buildings, With An Even Unit Mix Of (18) 1Bed/1Bath Units, And (18) 2Bed/2.5Bath Units. Interiors Feature Stunning Finishes Including Luxury Vinyl Flooring, Quartz Countertops, Decorative Lighting And Efficient Stainless Steel Appliances. This Development Presents Multiple Attractive Investment Strategies, Supported By Strong Comparables And Statistics.
This Property is Zoned MU-1, Which Allows For Legal Operation Of Short-Term Rentals, Including AirBnB/VRBO. This Development Presents A Fantastic Opportunity To Be Acquired And Operated As A Boutique Hotel. There Is Very Minimal Direct Competition In The River District For This Strategy.The Location, New Construction, Walkability And Close Proximity To Highly Visited Fort Worth Hotspots Make This A Very Attractive Opportunity. The River District Is One Of The Highest Performing STR Submarkets In Fort Worth, See Page 25 For AirDNA Statistics/Scores. This Is A Turnkey Asset Prime For Hospitality Brand Expansion. Visit www.fortworthtexas.gov/short-term-rentals For More Information.
Operating With A Long-Term Tenant Base Also Presents An Attractive Option. Comparable Rental Units In This Submarket Are Achieving Over $2 Per Square Foot In Rent On Average. The Footprint Of This Development Allows For Multiple Space-Efficient Amenities To Be Added Including Dog Runs, Micro-Courtyards For Additional Outdoor Seating, Bike Racks, Parcel Lockers And EV Charging Stations.
The Merritt Condominiums Are An Ideal Opportunity For A 1031 Exchange. Current Property Management Has 11 Units Leased On Traditional 1-2 Year Terms. Strong Rental Income And Tenants In Place To Propel Traditional Leasing Forward. This Also Provides Steady Cash Flow For The STR Investor As They Furnish/Launch Vacant Units, With The Ability To Bring Additional Units Online As Tenant Leases Expire.
Investment highlights
Located In The River District Of Fort Worth. Walkable To Popular Dining Destinations Including Heim Barbecue, Salsa Limon, Lettuce Cook And Crystal Springs Hideaway. Short Commute To Westworth Village, Where You'll Find Target, Lowe's, Wal-Mart, Sam's Club For All Grocery And Home Needs. Located 2 Miles From Naval Air Station Joint Reserve Base Fort Worth, Which Supports Over 10,000 Active Duty, Reserve And Civilian Personnel. The Base Contributes Over $4.8 Billion Annually To The Texas Economy.
Subject Property Is Located Across The Street From The Trinity Trail System, Spanning Over 100+ Miles. This Trail System Gives Tenants Fantastic Ability To Take Advantage Of Hiking, Biking And Running Trails Steps Away From Their Front Doors.
Close Proximity To The Cultural District And Dickies Arena. Dickies Arena Ranked #2 In Billboard Magazine's Top 10 Worldwide Boxscore Charts For Venues With A Seating Capacity Of 10,001-15,000. Upcoming 2026 Events At Dickies Arena Include NCAA Women's Basketball Championship, PBR, Nate Bargatze, Mumford & Sons And Luke Bryan.
4.5 Miles From Downtown Fort Worth Where You'll Experience Popular Dining, Retail And Fort Worth Convention Center. FWCC Currently Undergoing A $600 Million Renovation Totaling Over 250,000 Square Feet. This Renovation Is Designed To Host Diverse, High-Capacity Events Like Trade Shows, Conventions And Conferences. This Will Serve As An Economic Driver, Attracting Visitors And Supporting Tourism Through Versatile Spaces Including Exhibition Halls, Banquet Rooms And Meeting Rooms.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
