805 N Parkway

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Investment Overview

Marcus & Millichap is pleased to exclusively present for sale the property at 805 North Parkway Drive, Alvarado, Texas. The subject property is situated on 0.78 acres and is zoned General Commercial (C-2), which allows for multiple retail and commercial development options. The site currently holds a 2,624-square-foot former car wash building, including a drive-through lane, 12 parking spaces, and pole signage. These features provide the opportunity for the site to be repositioned or redeveloped into multiple new uses to service the immediate demographic. North Parkway feeds directly into Interstate 35 West, which sees more than 53,000 vehicles per day, and US Highway 67, which sees 21,000 vehicles per day.

The city of Alvarado, Texas, is known as “The Crossroads of Johnson County," and it is a historic and strategically located city approximately 26 miles south of Fort Worth and 39 miles southwest of Dallas, at the junction of United States Highway 67 and Interstate 35 West. Incorporated in 1885 and recognized as the oldest municipality in Johnson County, Alvarado spans roughly 4.9 square miles, including Alvarado Park Lake, which occupies about 15 percent of its area. With a 2020 population of 4,739, an increase of over 25 percent from 2010, the city has continued its growth trajectory, reaching an estimated 6,225 residents recently. The local demographic profile skews slightly younger than the state average, with a median age of around 33, and the median household income has climbed significantly into the low $70,000 range.

Economy-wise, Alvarado has transitioned from a primarily agricultural base toward diversified commercial and light industrial sectors: notable facilities include a 200,000-square-foot Sabre Tubular plant and a Louis Vuitton leather goods site, while the Barnett Shale boom once brought additional energy sector activity. Governed under a council manager system, the city supports local business growth with infrastructure improvements and incentives, enhancing its appeal for commercial real estate development.

Alvarado is located within the Dallas-Fort Worth metroplex, which is widely considered one of the top commercial real estate markets in the United States and one of the fastest-growing submarkets in the entire country. Notably a top job market, the Dallas-Fort Worth metroplex features 24 Fortune 500 company headquarters, eight Fortune Global 500 headquarters, and 49 Fortune 1,000 headquarters. The Metroplex has also ranked as the top market for year-over-year job growth, adding over 132,000 jobs in the past 12 months, a 3.3 percent annual increase.