Highway 26 Value Add
Highway 26 Value Add is a 28,105 SF retail asset situated on 2.20 acres across from Walmart Neighborhood Market in North Richland Hills, Texas. Positioned just off the signalized intersection of Highway 26 (Grapevine Highway) and Rufe Snow Drive, the Property is located 12 minutes northeast of Downtown Fort Worth and 20 minutes west of Dallas Fort Worth International Airport. Complete with fully-finished interiors ready for immediate occupancy, Highway 26 Value Add offers meaningful value add potential by leasing the existing vacancy totaling 28,105 SF. Pro forma estimates contemplate achieving a 13.46% cap rate at list price through leasing the existing vacancies*. The Property is priced significantly below replacement cost at only $59.60 PSF to the building and near land value at $17.49 PSF to the dirt. Notable retailers in close proximity include Kroger, CVS Pharmacy, Walgreens, Chase Bank, Wells Fargo, Dollar General, AutoZone and Domino’s, among others.*Please see pages 25 and 26 for underwriting detail and assumptions.