Marcus & Millichap is pleased to offer the opportunity to acquire a value-add community retail center in Haltom City (Fort Worth), Texas. Haltom Plaza Shopping Center is 67 percent occupied with a mix of triple-net and gross leases, providing tremendous upside potential for an investor. The shopping center is comprised of seven multi-tenant buildings and two single-tenant buildings totaling 203,619 square feet, situated on 17.03 acres. Anchored by Big Lots and Aldi grocery store, approximately 50 percent of the gross leasable area has credit tenants. Major tenants include Dollar General, CSL Plasma, Haltom Thrift, Goodwill, Sprad’s Ace Hardware, and Access Dental. The center also has additional income from leases with Metro PCS and AT&T for cellular towers. The majority of the center was constructed beginning in 1964. The two three-tenant pad sites located at 3159 and 3187 Denton Highway were constructed in 2000.
Haltom Plaza is located on Denton Highway (State Highway 377) and shares hard corners with Fossil Drive and Dana Drive, with multiple ingress and egress points from all roads. Highway 377 is a major thoroughfare between Fort Worth and Denton. Traffic counts in front of the property are approximately 17,800 vehicles per day. The property serves a densely populated area, which exceeds 241,600 residents within five miles. Neighboring national and regional retailers include CVS Pharmacy, Taco Casa, Taco Bell, McDonald’s Walgreens, Kwik Kar, Little Caesars Pizza, Prosperity Bank, Planet Fitness, Kroger, Sonic Drive-In, Dollar Tree, Cricket Wirless, and others. School campuses in close proximity include Haltom Middle School, Birdville Elementary, and Shannon High School.
Haltom City is an inner suburb of Fort Worth, located in Tarrant County. The city is home to 10 parks, a state-of-the-art public library and recreation center, and the Tarrant County College branch Haltom City Northeast Center is a community division of the TCC Northeast Campus in Hurst.
- Value-Add, Grocery-Anchored Community Center Located in the Fort Worth Suburb of Haltom City
- Tremendous Upside Potential | Currently 67% Occupied | Mix of Triple-Net and Gross Leases | Pro Forma Cap Rate is 12.81%
- Anchored by Big Lots and Aldi
- 50% of the Gross Leasable Area has Credit Tenants
- Rents are Well Below Market
- Large 17-Acre Lot | Includes Seven Multi-Tenant Buildings and Two Single-Tenant Buildings
- Additional Income from Two Cellular Towers
- Located on Denton Highway (State Highway 377) with Excellent Visibility | Major Thoroughfare between Fort Worth and Denton | Traffic Counts in Front of the Property are Approximately 17,800 Vehicles per Day
- Property Shares Hard Corners with Fossil Drive and Dana Drive | Multiple Ingress and Egress Points
- Surrounding Area is Densely Populated | More than 241,600 Residents within Five Miles