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Office

Oakland Plaza

2512 Oakland Blvd, Fort Worth, TX 76103

Listing Price: $850,000

Cap Rate
8.48%
Gross SF
7,979
Rentable SF
7,979
Price/Gross SF
$106.53
Lot Size
0.81 acres
Year Built
1972

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale of the fee simple ownership interest in 2512-2516 Oakland Boulevard, in Fort Worth, Texas. The property is currently 92 percent occupied and the major tenants include Joy Learning Palace Childcare Olivet Baptist Church and TA Tax Services. The subject office building was built in 1972 and boasts a healthy mix of tenants that provide services to the surrounding demographic. With some longer-term tenants as well as some newly signed leases, the tenants on this property provide services including but not limited to home health care, childcare, beauty salon, and tax services. With the property being able to attract new tenants during the pandemic as well as maintain high occupancy during the shutdown, it is evident that the services provided at the property are in full use by the surrounding demographic. An investor coming in on this deal could see upside through several paths. One potential option being an owner/user who could utilize the remaining vacant space to provide health care services or outreach to the surrounding neighborhood while collecting passive cashflow from the multi-tenant property. Another option would be an investor who would continue to make improvements to the property to justify further rental increases. With the submarket rental averages being $24.00 per square foot, continuing to make minor improvements to the property would justify increasing rental rates. The multi-tenant, office building contains a total of 7,979 square feet of rentable area and is conveniently located less than three miles from the Tom Landry Freeway and East Loop 820, allowing for easy access to the property. The office building is located on Oakland Boulevard, across from the street from the Oakland Office Suites and next to the Oakland Corners Shopping Center. Oakland Boulevard sees a moderate estimated annual average daily traffic count of 11,232 vehicles. The current tenant mix consists of Alcoholics Anonymous, a Church, daycare, home health, a hair salon and a tax service company, all with gross leases in place. The property benefits from strong demographics, serving a five-mile population of approximately 230,192 residents with a one-mile average household income exceeding $54,946.

Investment Highlights

  • 7,979-Square-Foot, Multi Tenant Office Building
  • 92% Occupied
  • Historically Consistent Cash Flow
  • Attractive Cash-on-Cash Return
  • Close Proximity to Downtown Fort Worth

Exclusively Listed By

Financing By

Listing Price: $850,000

Cap Rate
8.48%
Gross SF
7,979
Rentable SF
7,979
Price/Gross SF
$106.53
Lot Size
0.81 acres
Year Built
1972

Investment Highlights

  • 7,979-Square-Foot, Multi Tenant Office Building
  • 92% Occupied
  • Historically Consistent Cash Flow
  • Attractive Cash-on-Cash Return
  • Close Proximity to Downtown Fort Worth

Investment Overview

Marcus & Millichap Real Estate Investment Services is pleased to offer for sale of the fee simple ownership interest in 2512-2516 Oakland Boulevard, in Fort Worth, Texas. The property is currently 92 percent occupied and the major tenants include Joy Learning Palace Childcare Olivet Baptist Church and TA Tax Services. The subject office building was built in 1972 and boasts a healthy mix of tenants that provide services to the surrounding demographic. With some longer-term tenants as well as some newly signed leases, the tenants on this property provide services including but not limited to home health care, childcare, beauty salon, and tax services. With the property being able to attract new tenants during the pandemic as well as maintain high occupancy during the shutdown, it is evident that the services provided at the property are in full use by the surrounding demographic. An investor coming in on this deal could see upside through several paths. One potential option being an owner/user who could utilize the remaining vacant space to provide health care services or outreach to the surrounding neighborhood while collecting passive cashflow from the multi-tenant property. Another option would be an investor who would continue to make improvements to the property to justify further rental increases. With the submarket rental averages being $24.00 per square foot, continuing to make minor improvements to the property would justify increasing rental rates. The multi-tenant, office building contains a total of 7,979 square feet of rentable area and is conveniently located less than three miles from the Tom Landry Freeway and East Loop 820, allowing for easy access to the property. The office building is located on Oakland Boulevard, across from the street from the Oakland Office Suites and next to the Oakland Corners Shopping Center. Oakland Boulevard sees a moderate estimated annual average daily traffic count of 11,232 vehicles. The current tenant mix consists of Alcoholics Anonymous, a Church, daycare, home health, a hair salon and a tax service company, all with gross leases in place. The property benefits from strong demographics, serving a five-mile population of approximately 230,192 residents with a one-mile average household income exceeding $54,946.

Exclusively Listed By

Financing By

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