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    Hewitt Texas Duplex Portfolio Title is generated by Realmo AI

    100-102 E Gruver Cir, Hewitt, TX 76643

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    18-unit duplex portfolio in Hewitt, Texas, Waco MSA.

    Type:Multifamily
    Property size:
    19,930 SF
    Added:
    Mar 18, 2026
    Days on Market:
    56
    Last Refresh:
    Mar 20 at 12:09 am

    Property Features for 100-102 E Gruver Cir

    General Information

    Standard status
    Active
    Size
    19,930 SF
    Property subtype
    Multifamily

    We can help!

    Listing Contact
    Kevin Weable, CCIM
    Kevin Weable, CCIM

    Listing agent Kevin Weable, CCIM License #689810

    Listing office M&D CRE

    Listing date Mar 18, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of M&D CRE

    HighLights

    • Immediate multifamily scale with 18 units in a growing Central Texas market (Waco MSA).
    • Stable workforce housing demand in the Waco region.
    • Clustered layout supports operational efficiency for leasing, maintenance, and management.
    • Located in the established Southern Hills subdivision in Hewitt, Texas.
    • Opportunity to acquire a well‑located, income‑producing asset.
    • Potential to acquire additional portfolios within the Waco MSA for greater scale.

    Overview

    The Gruver Portfolio consists of nine duplex buildings, totaling 18 units, situated in Hewitt, Texas, within the Waco Metropolitan Statistical Area. This portfolio provides a direct operational profile, a neighborhood-style residential setting, and immediate multifamily scale within the growing Central Texas market. Located within the established Southern Hills subdivision, the properties benefit from stable surrounding residential development and consistent demand for workforce housing in the Waco region. The clustered layout of the portfolio supports operational efficiency for leasing, maintenance, and management within a single submarket. The Gruver Portfolio is one of three distinct multifamily portfolios being offered within the Waco MSA, providing investors the flexibility to acquire this portfolio individually or pursue additional scale through the acquisition of other portfolio components within the broader offering. This structure allows buyers to align acquisition size, asset type, and investment strategy, ranging from a single, manageable duplex portfolio to a larger, multi-asset platform within one regional market. The Gruver Portfolio presents an opportunity to acquire a well-located, income-producing asset supported by long-term workforce housing demand, population growth, and expanding economic drivers across Central Texas. The property size is 19930 square feet.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hewitt
    County
    McLennan
    State
    Texas
    Longitude
    -97.1831087
    Latitude
    31.4572026

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    FAQs

    What type of property is this?
    Duplex - 18-unit duplex portfolio in Hewitt, Texas, Waco MSA.
    Where is this duplex located?
    The property is located at 100-102 E Gruver Cir Hewitt, TX.
    What are key features of this property?
    This property features: Immediate multifamily scale with **18 units in a growing Central Texas market (Waco MSA).**; Stable workforce housing demand in the Waco region.; Clustered layout supports **operational efficiency for leasing, maintenance, and management.**
    (214) 801-7787 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kevin Weable, CCIM
    Kevin Weable, CCIM
    Real Estate License ID: 689810
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    100-102 E Gruver Cir, Hewitt, TX 76643
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