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Key Details
Property Type Commercial
Sub Type Office
Listing Status Sold
Purchase Type For Sale
Subdivision M Garrison
MLS Listing ID 20202778
Sold Date 02/07/23
Total Fin. Sqft 2080
Year Built 1954
Annual Tax Amount $7,524
Lot Size 4,878 Sqft
Acres 0.112
Property Description
NN office space on high traffic E Lancaster Ave occupied by a national tenant offered at an 9.3% CAP. Tenant has occupied the property for nearly twenty years with a remaining 5yr lease renewal option. Tenant recently updated the exterior of the building including stucco, fresh paint, lighting and new signage. Very stable, professionally managed tenant. Located minutes away from downtown Fort Worth on the main road leading into the city center. Tenant is responsible for insurance, taxes and all repairs with the exception of the roof which is in good condition. There is an unoccupied office on the second floor with a separate entrance that provides the opportunity to potentially add additional income. Current survey in hand. This is one property where you don’t even have to remember you own, simply sit back and get a $4,250 check every month.
Location
State TX
County Tarrant
Zoning COMM
Direction Use GPS. Take I-30, take exit 21C onto Loop I-820 S. Take Exit 30B from I-820 S. Turn right on E Lancaster Ave. Destination will be on your right.
Interior
Heating Central
Cooling Central Air
Flooring Carpet
Heat Source Central
Exterior
Utilities Available City Sewer, City Water, Electricity Connected
Roof Type Flat
Parking Type Off Street, On Site
Garage No
Building
Foundation Slab
Structure Type Stucco
Others
Ownership Record
Acceptable Financing 1031 Exchange, Cash, Other
Listing Terms 1031 Exchange, Cash, Other
Financing Cash
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Bought with Tawnya Tyree • All City Real Estate, Ltd. Co.