Advanced Real Estate Market Analysis: Market and Competitive Analysis

This land is perfectly situated to be a hub of community activity:

Within walking distance of

New subdivision, Sierra Vista - home to 110 single family homes
Cobb Park, Fort Worth's second largest park and recipient of $25 million dollars for improvements in the City's Master Plan.

Directly across the street from a public bus stop.
The Renaissance Square development, currently under construction, is located just one mile east and claims retail giant, Walmart, as a premier anchor tenant.

Sierra Vista:

Source: Master Plan

Cobb Park:

Video: Improved Cobb Park rededicated

Major improvements include:

Two new entry monuments
New park road
Two new parking lots
Security lighting for the new road and new parking lots
New playground for children 2-12 years old, accommodating 50-60 kids
Boulder playground
Six new park shelters, including one family-size shelter with electrical power
Two new full-court basketball courts
New trail connection to the Trinity Trail system
New park trail along the new road and down old Cobb Drive to Glen Garden Drive
Trail connection to the existing playground on Glen Garden Drive
New decorative bridge with stone veneer and railing to match the new entry monuments.

Benefits of close proximity to a large municipal park identified in How to Use Parks for Economic Development, part of City Parks Forum Briefing Papers (American Planning Association, 2002):

Key Point #1: Real property values are positively affected.

Key Point #2: Municipal revenues are increased.

Key Point #3: Affluent retirees are attracted and retained.

Key Point #4: Knowledge workers and talent are attracted to live and work.

Key Point #5: Homebuyers are attracted to purchase homes.

Renaissance Square:

Source: www.rsfortworh.com

"Renaissance Square is a 67-acre grocery-anchored shopping center located in the heart of Fort Worth, Texas. A joint venture between Lockard Development, Moriah Real Estate Company of Midland Texas, and Synergy Properties of Fort Worth, Texas, Renaissance Square will feature over 500,000 sf of shopping, sit down restaurants, fast food, and much more. Located just off the Martin Luther King Freeway at the intersection of East Berry and Vaughn Streets, Renaissance Square is only minutes from downtown Fort Worth, and has over 150,000 residents within a 3-mile circle." ~Lockard Companies

Research was conducted through publicly available sources. Much of the data used in this analysis is secondary data focusing on the Renaissance Square development - found one mile east of the subject property. Despite the inherent risk of secondary data being out of date and this data being collected for a different subject property, it is believed that the majority of the findings are relevant.

The following two retail maps highlight the fact that this area in underdeveloped.

"Displays lack of anchor and junior anchor retailers within a 3-mile radius of the site. In fact, for most retailers, the nearest location is five to nine miles away."