Woodmont Plaza is a multi-tenant retail center comprised of two buildings totaling 42,004 square feet, located in Fort Worth, Texas. The center is currently 83 percent occupied, providing upside potential in leasing the vacant space. Tenants are a mix national-brand and local businesses including Schlotzsky’s Deli, Verizon, Boost Mobile, H&R Block, Cousin’s Bar-B-Q, Little Caesars Pizza, Supercuts, Maya’s Furniture, Southern Classic Daiquiri Factory, La Familia Auto Insurance, and others. Sixty percent of the gross leasable area has triple-net leases. Constructed in 1982, the buildings are situated on 4.1 acres.
The subject property is located on McCart Avenue, a main north/south thoroughfare with traffic counts of approximately 29,900 vehicles per day, and has great access with multiple ingress and egress points. The property is half of a mile north of Altamesa Boulevard, with numerous national and regional retailers located at the intersection, such as Kroger, LA Fitness, Big Lots, CVS Pharmacy, Dairy Queen, Advance Auto Parts, Pizza Hut, Taco Bueno, Firestone, Chase, Subway, Chick-fil-A, Sally Beauty, McDonald’s, GameStop, Pet Supplies Plus, and Jackson Hewitt. South Hills High School is a quarter mile northeast, with a student population of 1,900. The surrounding area is densely populated with more than 250,000 residents within five miles and an average household income exceeding $69,500.
- Value-Add Multi-Tenant Retail Center in Fort Worth, Texas
- 42,004 Square Feet | Currently 83 Percent Occupied
- Tremendous Upside Potential in Leasing Vacant Space | Pro Forma Cap Rate is 10.14 Percent
- 60 Percent of the Gross Leasable Area Has Triple-Net Leases
- Mix of National and Local Tenants
- Anchored by Cousins Bar-B-Q | Long-Term Tenant for Almost 30 Years | Tenant Reports Strong Sales that are Increasing Year Over Year
- 35 Percent of the Gross Leasable Area has Tenants that Have been in the Center 25-30 Years
- Average Rent of New Leases Exceeds Existing Rent
- Consists of Two Buildings Situated on Approximately Four Acres
- Ample Paved Parking
- Located on McCart Avenue | Main North/South Thoroughfare
- Traffic Counts are Approximately 29,900 Vehicles per Day
- Great Visibility and Access with Multiple Ingress and Egress Points
- One-Half Mile from a Dense Retail Area at the Intersection with Altamesa Boulevard
- Heavily Populated with More than 250,000 Residents Within Five Miles
