Local Investment Group Purchases 11,760 SF Retail Building In Fort Worth Brokered By Joe Santelli
913 Houston Street
Building Size
11,760 SF
Asset Type
Retail
Closing
Apr 22, 2025
About this deal
AI
A local investment group purchased a vacant retail building located at 913 Houston Street in downtown Fort Worth. The property spans 11,760 square feet and is a three-story structure constructed in 1959. It is situated in an area experiencing approximately $2 billion in ongoing development projects, including the expansion of Texas A&M’s new campus and an Omni Hotel expansion.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not disclosed
- Square Footage: 11,760 SF
- Address: 913 Houston Street
- Market: Fort Worth
- Broker: Joe Santelli - Marcus & Millichap
Joe Santelli of Marcus & Millichap acted as the broker in this transaction, facilitating the purchase for the local investment group. The deal highlights the interest in retail properties within a rapidly developing market environment.
Players
Fort Worth Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93