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Urban-High Street

Another Round

660 Fort Worth Ave, Dallas, TX 75208

Listing Price: $3,875,000

Cap Rate
8.83%
Gross SF
9,576
Rentable SF
9,576
Price/Gross SF
$404.66
Lot Size
1.00 acres
Year Built
1948

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale Another Round located at 660 Fort Worth Avenue, Dallas, Texas. The subject property is 9,576 square feet and situated on one acre in the heart of the West Dallas submarket. The asset is fully-occupied by a single tenant, Another Round, an indoor mini golf, pickle ball, and entertainment concept. The tenant currently has approximately two years remaining on the initial term of their lease, with one five-year renewal option available at fair market value. The lease is triple-net and features a percentage rent clause. The subject property is currently zoned MU-3, a highly-desirable zoning within the city of Dallas, allowing for tremendous potential of a mixed-use development. Therefore, the subject property creates an ideal covered-land-play offering located in the heart of one of Dallas' most rapidly transitioning urban submarkets.

The Dallas-Fort Worth metroplex is widely considered one of the top commercial real estate markets in the United States and one of the fastest-growing submarkets in the entire country. Notably a top job market, the Dallas-Fort Worth metroplex features 24 Fortune 500 company headquarters, eight Fortune Global 500 headquarters, and 49 Fortune 1,000 headquarters. The Metroplex has also ranked as the top market for year-over-year job growth, adding over 132,000 jobs in the past 12 months, a 3.3 percent annual increase.

The city of Dallas has also gained tremendous press lately with the recent introduction of the Texas Stock Exchange, which is backed by several Wall Street investment groups such as Black Rock, Citadel Securities, and many more. With the massive influx of corporate relocations of Fortune recognized companies and job growth, this has driven a tremendous amount of new residents to the Metroplex, further driving the need for additional housing and retail establishments to sustain this increased demand.

Overall, Another Round provides a new investor or developer the rare opportunity to acquire a single-tenant, net lease property with favorable zoning for future development opportunities. The subject property is located in a prime position on Fort Worth Avenue, which connects directly into downtown Dallas, and features over 10,000 vehicles per day. The property is also situated within a strong demographic urban submarket, boasting an average household income exceeding $112,000 within a one-mile radius.

Investment Highlights

  • Rare Urban Single-Tenant NNN Investment Opportunity
  • 8.83% Cap Rate | +/- 2 Years Remaining on Initial Lease Term | One 5-Yr Option @ FMV
  • 9,576-SF Retail Building | Situated on 1.00 AC
  • Located on Fort Worth Ave in the Heart of West Dallas | Over 10,000 VPD
  • Highly Favorable MU-3 Zoning | Allows for a Strong Mixed-Use Vertical Development Opportunity

Exclusively Listed By

  • Joe Santelli

    First Vice President Investments

    (972) 755-5282

    Email Joe

    License(s): TX: 664135, FL: SL3568387

    Dallas Uptown

Urban-High Street

Another Round

Listing Price: $3,875,000

Cap Rate
8.83%
Gross SF
9,576
Rentable SF
9,576
Price/Gross SF
$404.66
Lot Size
1.00 acres
Year Built
1948

Investment Highlights

  • Rare Urban Single-Tenant NNN Investment Opportunity
  • 8.83% Cap Rate | +/- 2 Years Remaining on Initial Lease Term | One 5-Yr Option @ FMV
  • 9,576-SF Retail Building | Situated on 1.00 AC
  • Located on Fort Worth Ave in the Heart of West Dallas | Over 10,000 VPD
  • Highly Favorable MU-3 Zoning | Allows for a Strong Mixed-Use Vertical Development Opportunity

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale Another Round located at 660 Fort Worth Avenue, Dallas, Texas. The subject property is 9,576 square feet and situated on one acre in the heart of the West Dallas submarket. The asset is fully-occupied by a single tenant, Another Round, an indoor mini golf, pickle ball, and entertainment concept. The tenant currently has approximately two years remaining on the initial term of their lease, with one five-year renewal option available at fair market value. The lease is triple-net and features a percentage rent clause. The subject property is currently zoned MU-3, a highly-desirable zoning within the city of Dallas, allowing for tremendous potential of a mixed-use development. Therefore, the subject property creates an ideal covered-land-play offering located in the heart of one of Dallas' most rapidly transitioning urban submarkets. The Dallas-Fort Worth metroplex is widely considered one of the top commercial real estate markets in the United States and one of the fastest-growing submarkets in the entire country. Notably a top job market, the Dallas-Fort Worth metroplex features 24 Fortune 500 company headquarters, eight Fortune Global 500 headquarters, and 49 Fortune 1,000 headquarters. The Metroplex has also ranked as the top market for year-over-year job growth, adding over 132,000 jobs in the past 12 months, a 3.3 percent annual increase. The city of Dallas has also gained tremendous press lately with the recent introduction of the Texas Stock Exchange, which is backed by several Wall Street investment groups such as Black Rock, Citadel Securities, and many more. With the massive influx of corporate relocations of Fortune recognized companies and job growth, this has driven a tremendous amount of new residents to the Metroplex, further driving the need for additional housing and retail establishments to sustain this increased demand. Overall, Another Round provides a new investor or developer the rare opportunity to acquire a single-tenant, net lease property with favorable zoning for future development opportunities. The subject property is located in a prime position on Fort Worth Avenue, which connects directly into downtown Dallas, and features over 10,000 vehicles per day. The property is also situated within a strong demographic urban submarket, boasting an average household income exceeding $112,000 within a one-mile radius.

Exclusively Listed By

  • Joe Santelli

    First Vice President Investments

    (972) 755-5282

    Email Joe

    License(s): TX: 664135, FL: SL3568387

    Dallas Uptown

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