972-755-5282
913 Houston St, Fort Worth, TX for Sale
Retail - FOR SALE
1/5
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913 Houston St
Fort Worth, TX 76102


HIGHLIGHTS

  • Trophy Downtown Fort Worth Asset | Hard Corner of Houston St & 9th Ave
  • Located Directly Across from the Fort Worth Convention Center | $500M Expansion
  • 11,760-Square-Foot Building | Situated on 0.12 Acres
  • Multi-Level Asset Featuring Basement, Main Floor, and Mezzanine Level
  • Average Household Income Exceeds $106,000 Within a One-Mile Radius
  • Close Proximity to Major Vertical Developments in Downtown Fort Worth

OVERVIEW

Marcus & Millichap is pleased to exclusively present for sale 913 Houston Street, a 11,760- square-foot retail asset located in the heart of downtown Fort Worth, Texas. The subject property features three ?oors; a basement, main floor, and mezzanine, and is situated on 0.12 acres at the intersection of Houston Street and 9th Avenue. The 913 Houston is featured in a prime location, directly across from the Fort Worth Convention Center, which has recently begun construction on the $95 million Phase of its 20-year planned expansion. The subject property is currently zoned H – Central Business, which allows for a multitude of commercial uses to service the immediate area, with no height restrictions. The subject property is located proximate to major economic drivers in the area including the iconic Sundance Square, the expanding Fort Worth Convention Center, and Texas A&M's Downtown Fort Worth Campus. The Texas A&M Campus development is located at 1515 Commerce Street and is less than one-half mile from the subject property. The overall investment in the Texas A&M Fort Worth Campus is projected to reach $350 million in total, with construction anticipated to conclude by 2025. The downtown area has also seen an in?ux of over 3,000 new residents due to the recent surge in new multifamily developments. Within close proximity, there are several new vertical development projects receiving a tremendous amount of funding, exemplifying the strength of the downtown Fort Worth market. Most notably, the nearby Omni Hotel has plans for new expansion, and is a sparkplug for over $700 million in new hospitality development projects scheduled for Downtown. The Omni Hotel expansion plans to deliver over 1,000 total guest rooms, while adding an additional 50,000 square feet for meeting space, and a subsequent 450-space parking garage to accommodate the upgrades. The nearby Fort Worth Convention Center is set to add more than 180,000 square feet of event space in the next several years. The upgrades will feature a new 85,000-square-foot ballroom, accompanied by 97,000 square feet of additional exhibit space. In total, the facility's usable square-footage is scheduled to increase by 40%, and Phase II is anticipated to be delivered with an additional $500 million investment. The city of Fort Worth has recently been recognized by the Wall Street Journal as the next major boom market for commercial real estate. Fort Worth, Texas is also recognized as the fastest growing city in the United States, with a population of just under one million. As the 13th largest city in the country, Fort Worth is also generating an impressive $2.5 billion in new developments. Factors such as the relatively low cost of living, proximity to recent major corporate relocations, and robust development opportunities have driven more new residents to the Fort Worth market at a rate faster than any other city in the United States. Overall, 913 Houston provides a new value-add investor owner/user the rare opportunity to acquire a prime downtown Fort Worth trophy asset, proximate to many of the main traf?c generators in the urban core of the city. The subject property is core asset located at the entrance of the expanding Fort Worth Convention Center, in an extremely high-barrier-to-entry market, providing the potential for future upside to capture rising rents in the downtown submarket. With a tremendous amount of funding allocated to new developments in downtown Fort Worth, 913 Houston is situated directly in the growth path of increased foot traf?c and daily visitors, providing a prime location for a high-visibility retail opportunity.

FOR SALE DETAILS

PRICE

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CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

913 Houston

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,000 SF

ZONING

Commercial

APN/PARCEL ID

00005762

ASK ABOUT THIS PROPERTY

Joe SantelliMarcus & MillichapMore Info
972-755-5282

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Joe SantelliMarcus & MillichapMore Info
972-755-5282

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.