Weisenberger Townhome LOT Portfolio 0.65 Ac | 2801 - 2805 & 2804 - 2808 | WEISENBERGER STREET | FORT WORTH, TEXAS 76107
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weisenberger townhome LOT portfolio 0.65 ac | 2801 - 2805 & 2804 - 2808 | WEISENBERGER STREET | FORT WORTH, TEXAS 76107 2801 & 2805 +/- 14,300 SF / 0.3282 AC 2804 & 2808 +/- 14,195 SF / 0.3258 AC OFFERING MEMORANDUM TABLE OF CONTENTS CONTENTS & ADVISORS 3 EXECUTIVE SUMMARY INVESTMENT OVERVIEW INVESTMENT HIGHLIGHTS WEISENBERGER ASSEMBLAGE AVAILABLE SURROUNDING LOTS AVAILABLE LOT BREAKOUT 6 LOCATION OVERVIEW CAMERON DEPTULA MAPS / AERIALS 2929 CARLILSE STREET, SUITE 250 DEMOGRAPHICS DALLAS, TX 75204 13 MARKET OVERVIEW C: (214) 497-0276 E: [email protected] FORT WORTH OVERVIEW DFW OVERVIEW SAM HOOGLAND 17 DISCLAIMER 2929 CARLILSE STREET, SUITE 250 DISCLOSURE DALLAS, TX 75204 C: (847) 899-6824 E: [email protected] WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 2 EXECUTIVE SUMMARY EXECUTIVE SUMMARY INVESTMENT OVERVIEW DB2RE is pleased to present the Weisenberger Townhome Lot Portfolio, located within the heart of the Linwood neighborhood (W. 7th District) of Fort Worth, Texas. The offering is comprised of (1) 2801-2805 Weisenberger Street LOCATION: (2) 2804-2808 Weisenberger Street two double +/- 0.32 AC lots, totaling +/- 0.654 AC. Developers will benefit from the UR zoning Fort Worth, Texas 76107 current ownership already secured, allowing construction to commence immediately after closing. As one of the fastest growing infill markets in the Nation, the Property boasts a coveted (1) 2801 - 2805: $600,000 centralized location 0.38 miles north of W. 7th Street, 0.13 miles south of White Settlement Road SALE PRICE: (2) 2804 - 2808: $600,000 and 0.25 miles east of University Drive, the dominant thoroughfares in the market. The Linwood TOTAL: $1,200,000 neighborhood is a true walkable urban destination, providing its residents with convenient access to world renowned entertainment venues and countless amenities. Surrounding venues and 2801: $300,000 2805: $300,000 developments include: the Foundry District, Montgomery Plaza, W. 7th Entertainment District, Fort PRICE PER LOT: 2804: $300,000 Worth Cultural District, West Bank and Crockett Row, among others. 2808: $300,000 AVERAGE: $300,000 (4 Lots) Over the last several years, the W. 7th District has evolved into one of the most dynamic urban live, work, play destinations in the state of Texas. As a result of its strategic positioning, the 2801: 0.164 AC / 7,150 SF Linwood neighborhood has experienced tremendous gentrification and growth. Today, the area 2805: 0.164 AC / 7,150 SF is home to various high-end townhome, condo and multi-family projects. As Fort Worth’s most TOTAL: 0.3283 AC / 14,300 SF LOT SIZE: desired infill residential and commercial market, the barrier to entry is high, significantly limiting 2804: 0.161 AC / 7,096 SF new entrants and developments. With limited double lots left, the offering is a true once-in-a- 2808: 0.161 AC / 7,099 SF lifetime opportunity for townhome developers seeking immediate access to the coveted Linwood / TOTAL: 0.3259 AC / 14,195 SF W. 7th District. ZONING: UR 2804 & 2808 +/- 14,195 SF / 0.3258 AC (1) 2801: 45630-11-10R (1) 2805: 45630-11-9R APN: 2801 & 2805 (2) 2804: 45630-6-19 +/- 14,300 SF / 0.3282 AC (2) 2808: 45630-6-18 WEISENBERGER STREET UTILITIES: Full Ingress / Egress along Weisenberger INGRESS: Street & Foch Street WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 4 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS • Rare townhome lot portfolio located within the dense infill Linwood Neighborhood - Fort Worth, Texas (W. 7th District) • Two (2) double lots totaling 14,300 SF & 14,195 SF each - 28,495 SF or 0.65 AC for the portfolio at a below market $300K per lot • Excellent centralized location - 0.11 miles / 2 minute to the Foundry District, 0.23 miles / 5 minute walk to Montgomery Plaza, 0.43 miles / 9 minute walk to the W. 7th Entertainment District, 0.79 Miles to Downtown Fort Worth, 0.82 miles to the Cultural District and 1.25 miles to Dickies Arena • Both lots are shovel ready - includes a savings of over $75,000 for New Ownership! • Approved high-density / coveted UR Zoning already in-place! 2801 & 2805 • New Ownership to have access to Seller’s utilities that have already +/- 14,300 SF / 0.3282 AC been installed (2804 - 2808) WEISENBERGER STREET • Seller to provide all plans and reports (building, architectural, structural, MEP, Civil, landscape, geotechnical, and TOPO surveys) • Replat complete with dedicated shared access 2804 & 2808 +/- 14,195 SF / 0.3258 AC • Floodplain development permit approved! • Permit fees have already been paid & city has dedicated funds to replace the old sewer main (sewer tap and impact fees will be due) • Approved urban forestry permit, street tree permit and all PACS fees paid FOCH STREET FOCH FOCH STREET FOCH • Both lots located along the same block (Weisenberger Street) with ample other acquisitions nearby as needed for development plans. WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 5 LOCATION OVERVIEW LOCATION OVERVIEW DFW LOCATION MAP WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 7 LOCATION OVERVIEW AERIAL - CLOSE DOWNTOWN FORT WORTH PANTHER ISLAND LEFT BANK WHITE SETTLEMENT DISTRICT THE FOUNDRY DISTRICT MONTGOMERY PLAZA CARROLL STREET WHITE SETTLEMENTE ROAD FOCH STREET WEISENBERGER STREET 2804 & 2808 +/- 14,195 SF / 0.3258 AC 2801 & 2805 +/- 14,300 SF / 0.3282 AC LINWOOD WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 8 LOCATION OVERVIEW TRADE AREA MAP TCU DOWNTOWN FORT WORTH NEAR SOUTHSIDE DISTRICT W. LANCASTER AVENUE DICKIE’S ARENA W. 7TH STREET LEFT BANK W. 7TH DISTRICT FORT WORTH CULTURAL DISTRICT MONTGOMERY PLAZA CROCKETT ROW CAMP BOWIE BOULEVARD THE FOUNDRY DISTRICT PARK 7 DISTRICT MUSEUM PLACE CARROLL STREET UNIVERSITY DRIVE BAILEY AVENUE WHITE SETTLEMENT ROAD WHITE SETTLEMENT DISTRICT MONTICELLO UNIVERSITY PARK WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 9 LOCATION OVERVIEW TRADE AREA MAP WHITE SETTLEMENT DISTRICT PANTHER ISLAND WHITE SETTLEMENT ROAD THE FOUNDRY DISTRICT BAILEY AVENUE UNIVERSITY PARK CARROLL STREET LINWOOD LEFT BANK MONTGOMERY PLAZA MUSEUM PLACE UNIVERSITY DRIVE W. 7TH STREET CULTURAL DISTRICT W. 7TH ENTERTAINMENT DISTRICT FOCH STREET W. LANCASTER AVENUE WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 10 LOCATION OVERVIEW SURROUNDING AMENITIES DOWNTOWN FORT WORTH 0.79 MILES MONTGOMERY PLAZA THE FOUNDRY DISTRICT W. 7TH DISTRICT 0.11 MILES 0.43 MILES 0.23 MILES 1.25 MILES DICKIES ARENA & 0.82 MILES WILL ROGERS COLLESIUM CULTURAL DISTRICT WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 11 LOCATION OVERVIEW DEMOGRAPHICS 1 MILE 3 MILE 5 MILE TOTAL POPULATION: 10,038 94,045 265,801 POPULATION GROWTH RATE: 4.27% 2.31% 1.52% TOTAL HOUSEHOLDS: 4,956 35,925 91,289 HOUSEHOLD GROWTH RATE: 4.33% 2.60% 1.52% AVERAGE HOUSEHOLD INCOME: $95,352 $84,000 $74,089 MEDIAN HOUSEHOLD INCOME: $76,163 $55,735 $48,262 MEDIAN AGE: 34.1 35.2 32.4 BUSINESSES: 1,381 7,819 13,458 EMPLOYEES: 17,490 125,412 190,727 % WHITE: 49.80% 45.20% 39.92% % HISPANIC: 30.75% 33.38% 35.25% WEISENBERGER LOT PORTFOLIO | FORT WORTH, TX | 12 MARKET OVERVIEW MARKET OVERVIEW FORT WORTH OVERVIEW Fort Worth is the 15th-largest city in the United States and the No. 1 tourist destination in Texas, welcoming more than 10 million visitors annually. Fort Worth is the county seat of Tarrant County, covering close to 350 square miles. The core of Fort Worth is comprised of eight primary entertainment districts each offering distinct dining, shopping, entertainment and cultural amenities. In only a few days you can enjoy a range of experiences: from Nascar racing to rodeos, world-class museums, fine cuisine and boutique shopping to horseback riding and Texas BBQ, Fort Worth has it all. Home to the Kimbell Art Museum, Modern Art Museum of Fort Worth, Amon Carter Museum of American Art (three of the most distinguished museums in the World), as well as, the Fort Worth Zoo (ranked #5 best zoo by USA Today), Fort Worth Stockyards and Will Rogers Memorial Coliseum, Fort Worth exhibits Texas’ cowboy roots and diversity. Over the last several decades, Fort Worth, along with the DFW-Metroplex, has experienced historic growth few cities have seen. Between 2016 and 2017, Fort Worth ranked #4 in terms of population gain, only trailing San Antonio, neighboring Dallas and Phoenix. According to the U.S. Census Bureau, Fort Worth was the fastest growing “large city” with more than 500,000 population between 2000 and 2010. Fort Worth’s growth rate shows no signs of slowing. By 2040, the population is expected to skyrocket from 875,000 today to almost 1.2 million. One of the many generators attributing to such explosive growth is due to Fort Worth’s cost of living, currently at 14% below the national average. As one of America’s fastest growing and affordable cities, the future couldn’t be brighter. Also contributing to its unprecedented success is Fort Worth’s dynamic and diversified job market and economy. Forbes recently ranked Fort Worth #4 in their annual “best big cities for future job growth”, with a projected annual job growth of 3.5%. The city enjoys a multitude of flourishing industries, in great part due to the foundation created by the headquarters for American Airlines, Lockheed Martin, Bell Helicopter and BNSF Railway. Most importantly, Fort Worth’s resilient healthcare and energy sectors have helped Fort Worth prosper during cyclical times that often daunt non-diversified economies. The Fort Worth Medical District, home to Cooks Children, Harris Methodist, among numerous other acclaimed medical schools and hospitals, financially supports a wide range of professionals from the technicians, nurses and doctors to medical technology and healthcare