Investment Overview

Marcus & Millichap is pleased to present 601 W Magnolia, an 18,108-square foot mixed-use asset situated on 0.68 AC and located at 601 West Magnolia Ave in Fort Worth, Texas. This urban infill opportunity is located in the heart of the rapidly transforming Near Southside submarket of Fort Worth and is proximate to the Medical District and Downtown. 601 W Magnolia was recently renovated in 2023, with significant upgrades to all major fixtures of the property. The current tenant lineup features businesses that have called the 601 home for 10+ years and the recent renovations have proven to continue their commitment to the site. This is evidenced by one of the main tenants on the first floor recently signing a lease expansion for their space and the current owner building out his office space upstairs, giving his business a Class A Suite for many years to come. In 1925, before the property was built, 601 W Magnolia was home to the Clarence Saunders grocery store. Saunders was the founder of the Piggly Wiggly grocery store chain, which originated in Memphis, TN, and opened this store in October of 1925 when he apparently lost the Piggly Wiggly company. Shortly after that time, the property was demolished and rebuilt. 601 W Magnolia Ave boasts a great deal of history within the property since it was originally constructed in 1930. By 1933, the location had turned into the Great A&P Tea Company grocery store. After this business ran its course, Central Auto Parts took over the property in 1959 and lasted there until the 1980's. From there, the new owners of the property made extensive renovations in 1985 to transition the building into professional use, where it housed a financial firm and a couple of medical staffing companies. Fast forward to present date, now the property utilizes a near identical tenant lineup, and the current owner has been able to install essential improvements while maintaining the integrity of the historical aspects of the building. The city of Fort Worth is the 13th largest city in the country, with a population of just under one million. Factors such as the relatively low cost of living, recent corporate relocations, and opportunity for development have driven more new residents to the Dallas-Fort Worth markets than ever before. Several new construction projects are underway surrounding the subject property, including a new mixed-use center across the street at 701 W Magnolia Ave and recent renovations to the Paris Coffee Shop at 704 W Magnolia Ave. In addition, located at 1066 W Magnolia Ave is the Highline on Magnolia, a new 100+ Unit luxury mixed-use development. This project has broken ground and is expected to bring numerous multifamily housing units and supporting retail space into the immediate submarket. Overall, 601 W Magnolia provides a new investor the opportunity to acquire an extremely well-located, trophy urban infill asset, proximate to many of the main traffic generators in core Fort Worth. 601 W Magnolia allows investors the chance to get into a high barrier to entry market, with a property that produces attractive rental income and still boasts great upside through leasing the few vacancies.