Miscellaneous

Verizon (Corporate Store)

Listing Price: $3,810,000

Cap Rate
6.00%
Tenant Name
Verizon
Years Remaining On Lease
3.90
Gross SF
5,397
Guarantor
Corporate Guarantee
Rentable SF
5,397
Price/Gross SF
$705.95
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.35

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple net lease Verizon in Fort Worth, Texas. The property consists of a 5,397-square foot, freestanding building that sits in the heart of the West 7th Street corridor. There are approximately 4.1 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years in the options. The property has excellent access and visibility on West 7th Street, where traffic counts exceed 20,602 vehicles per day. The area is extremely dense with more than 260,044 residents and a daytime population of 443,861 within a five-mile radius. Verizon also benefits from high foot traffic derived from West 7th Street being a prime location for shopping, dining, entertainment and business in Fort Worth. West 7th Street begins in downtown Fort Worth and continues through the West 7th Street District and into the Fort Worth Cultural District. Within walking distance of Verizon is the new Left Bank mixed-use development, which includes 1.5 million square feet of retail, residential, hotel and office units.

Investment Highlights

  • Rare Opportunity to Acquire a Net Lease Asset in the Heart of the West 7th Street Corridor
  • Triple Net Lease with Approximately 4.1 Years Remaining
  • Excellent Access and Visibility on West 7th Street, Where Traffic Counts Exceed 20,602 Vehicles per Day
  • More Than 260,095 Residents and a 443,861-Daytime Population Within a Five-Mile Radius
  • Investment Grade Tenant - Verizon has a Standard & Poor's rating of BBB+ and is a Fortune 500 Company
  • Less than 1.5 Miles from Fort Worth Central Business District

Exclusively Listed By

Miscellaneous

Verizon (Corporate Store)

Listing Price: $3,810,000

Cap Rate
6.00%
Tenant Name
Verizon
Years Remaining On Lease
3.90
Gross SF
5,397
Guarantor
Corporate Guarantee
Rentable SF
5,397
Price/Gross SF
$705.95
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$42.35

Investment Highlights

  • Rare Opportunity to Acquire a Net Lease Asset in the Heart of the West 7th Street Corridor
  • Triple Net Lease with Approximately 4.1 Years Remaining
  • Excellent Access and Visibility on West 7th Street, Where Traffic Counts Exceed 20,602 Vehicles per Day
  • More Than 260,095 Residents and a 443,861-Daytime Population Within a Five-Mile Radius
  • Investment Grade Tenant - Verizon has a Standard & Poor's rating of BBB+ and is a Fortune 500 Company
  • Less than 1.5 Miles from Fort Worth Central Business District

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a triple net lease Verizon in Fort Worth, Texas. The property consists of a 5,397-square foot, freestanding building that sits in the heart of the West 7th Street corridor. There are approximately 4.1 years remaining on the current lease term, with 10 percent rental escalations scheduled every five years in the options. The property has excellent access and visibility on West 7th Street, where traffic counts exceed 20,602 vehicles per day. The area is extremely dense with more than 260,044 residents and a daytime population of 443,861 within a five-mile radius. Verizon also benefits from high foot traffic derived from West 7th Street being a prime location for shopping, dining, entertainment and business in Fort Worth. West 7th Street begins in downtown Fort Worth and continues through the West 7th Street District and into the Fort Worth Cultural District. Within walking distance of Verizon is the new Left Bank mixed-use development, which includes 1.5 million square feet of retail, residential, hotel and office units.

Exclusively Listed By

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