2725 Altamesa

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Investment Overview

Marcus & Millichap is pleased to exclusively present for sale 2725 Altamesa, a 13,535-square-foot neighborhood retail center located at 2725 Altamesa Boulevard in Fort Worth, Texas. The subject property is well-situated on 1.35 acres and is adjacent to a Social Security Administration Building and regional shopping center. The subject property is strongly positioned within a major retail corridor, featuring multiple national credit tenants including Kroger, Chick-Fil-A, Big Lots, and many more. The asset has been recently vacated by a single tenant, which had operating in the center for over thirty years. The subject property features immediate value-add potential and is priced significantly below replacement cost, as well as a new roof and HVAC replacement recently occurring in 2021. 2725 Altamesa is ideal for a single user or can also be conveniently divided into multiple suites and is zoned E - Neighborhood Commercial, allowing for multiple commercial and retail uses.

The city of Fort Worth has been recently recognized by the Wall Street Journal is the next commercial real estate boom town, with multiple new developments in the pipeline, as well as a rapidly growing population with increasingly wealthy demographics. Fort Worth is ranked the 13th largest city in the United States, as well as one of the fastest-growing cities, which is currently home to over 935,000 residents. The city added more than 194,000 residents between 2010 and 2021, equating to a 25 percent population increase. Fort Worth is projected to be home to approximately 1,000,000 residents by 2028. The city features a current total employment of over 1,400,000 individuals with a projected employment of over 2,100,000 by 2045. The median family income for the city exceeds $80,000. The city is also home to several large-scale corporations, including American Airlines Group (40,600 employees), Lockheed Martin (22,950 employees), and many more. (fortworthtexas.gov)

Overall, for the first time in over thirty years, 2725 Altamesa provides a new investor or owner/user the unique opportunity to acquire an infill, value-add shopping center asset with immediate upside potential, and well-positioned within a strong retail corridor. The subject property is priced approximately over fifty percent below replacement costs and features recent renovations, including a new roof and HVAC units, ideal for new business operations or a strong value-add investment opportunity.