1510 W Magnolia Ave, Fort Worth, TX 76104

Marcus & Millichap is pleased to exclusively present the opportunity to acquire 1510-1514 W. Magnolia, a rare value-add urban retail investment opportunity, including two buildings with a total of 10,634 rentable square feet, situated on 0.36 acres on the hard corner of West Magnolia Avenue and Hurley Avenue in the urban submarket of the NearthSide/Medical District of Fort Worth, Texas.

The subject property offers a rare value-add portfolio acquisition opportunity, with a blend of stability with newly executed long-term leases, as well as immediate upside with a rare 3,600 square foot second generation restaurant building available for lease-up, as well as short-term leases at below-market rents. With very few new construction retail projects in the immediate pipeline, occupancy has remained close to 96 percent in the Near Southside submarket. Additionally, average rents for the tenants in this submarket have grown approximately 12 percent over just the past three years, providing tremendous growth potential through lease-up of assets with long-term leases coming due in the new future.

1510-1514 W. Magnolia offers the strategic opportunity to control several primary hard corners along West Magnolia Avenue, including two prime signalized hard corners on West Magnolia and South Hemphill. This urban core investment package is located in the heart of the rapidly transforming Near Southside and Medical Districts, with immediate access to downtown Fort Worth. The properties also provide convenient access to major thoroughfares, including Interstate 30 and Interstate 35 West.

The Near Southside/Medical District is anchored by five major medical institutions including Baylor Scott & White, Cook Children’s, JPS Health Network, Medical City Healthcare, Texas Health Resources, and UT Southwestern. The area is also the new home to Texas Christian University’s Burnett School of Medicine campus. The new construction four-story campus building is approximately 100,000 square feet, designed to accommodate over 240 medical students, and is located at the northeast corner of South Henderson and West Rosedale. The Near Southside is Tarrant County’s second largest employment hub with approximately 30,000 jobs in the immediate area.

Several new construction multifamily and residential assets insulate the surrounding streets of West Magnolia, most notably are Mag & May, Ramble & Rose, Highline on Magnolia, The Cooper Apartments, and The Monarch Medical District Apartments. All of which house thousands of residents in the immediate area, creating a walkable, resident-friendly environment, in which experiential and essential service-based retail uses play a major complementary role.

The Wall Street Journal has recently recognized the city of Fort Worth as the next big boom market for commercial real estate, noting over $2.3 Billion under construction, including 5,000 new apartment units. Fort Worth is the fastest-growing of the 30 most populous cities in the United States, with a 4.1 percent increase since 2020. Ranked as the 13th largest city in the nation, Fort Worth boasts a population of just under one million. The city’s appeal has grown significantly due to factors like its comparatively low cost of living, proximity to recent major corporate relocations, and abundance of opportunities for new development, resulting in an unprecedented influx of new residents to the Dallas-Fort Worth markets.

1510-1514 W. Magnolia presents the rare opportunity for a new investor to secure multiple highly desirable core assets, located in the heart of Fort Worth’s most rapidly transitioning urban submarket, and proximate to key traffic drivers in the heart of Fort Worth, Texas. This investment opportunity provides investors with the ability to acquire substantial market share within a high barrier-to-entry market, offering attractive day-one rental income and significant upside potential.

Sources: fortworthtexas.gov, nearsouthsidefw.org, wsj.com, mduschool.tcu.edu