The 23,639-square foot building is in the heart of the bustling downtown Fort Worth’s central business district, home to numerous corporations, restaurants, and national retailers.
The property is located on the corner of Houston Street and West 6th Street, only two blocks from the very popular Sundance Square. With a growing, affluent customer base and flexible spaces, Downtown Fort Worth is one of the finest retail environments in the Southwest. Due to attractive demographics and culture, Fort Worth has become the destination of more than 10 million visitors annually.
The two-story building is currently 100 percent leased with Pete’s Dueling Piano Bar and The Library II, both on triple-net (NNN) lease schedules. Currently, Pete’s Dueling Piano Bar is leased at $12.00 per square foot, which is well below the market rate. Market rental rates range from $18-$29 per square foot depending on finish out.
The city of Fort Worth has a track record of being pro-density and pro-development providing tax increment financing and flexible zoning changes, and limited height and usable restrictions. Investors can potentially render capital improvements, modify the existing usage and capture a well-located asset in downtown Fort Worth, one of the fastest-growing large cities in the nation.
Downtown Fort Worth Investment Opportunity - 611, Houston Street, Downtown Fort Worth, Fort Worth, Tarrant County, Texas, 76102, USA
