Dollar General NNN
For Sale
Contact for pricing
13056 Gholson Road, Waco, TX 76705
2019-built retail building supported by a corporate guarantee and absolute NNN lease structure.
Property Size9,100 SF
Price / SF$156.67
Days on Market77
Property Features for 13056 Gholson Road
General Information
Standard status
Active
Size
9,100 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$90,534
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2019
Tenancy
Single
Listing Agency:
Secure Net Lease
(214) 522-7200
Listed By:
Russell Smith · License #587553
Source:
Crexi
Added: Jun 15
Changed: Aug 30
Last Checked: Aug 30 at 1:07AM
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 Secure Net Lease
Investment Insights
Based on property information with market context.
This 9,100-square-foot retail property was constructed in 2019 and is occupied by Dollar General under a corporate absolute NNN lease. Rent commenced in March 2019, with 8+ Years Remaining and (3) 5-Year Options to Renew. The lease provides 10% Rental Increases in each Option Period.
The property is located at 13056 Gholson Road in Waco, Texas, approximately 10 miles northwest of downtown Waco and 5 miles north of Waco Regional Airport. Gholson Road connects with I-35, a major north-south highway identified at 79k+ VPD. The surrounding area includes limited grocery competition, with this location described as one of only two grocery options serving the immediate area.
The property is located at 13056 Gholson Road in Waco, Texas, approximately 10 miles northwest of downtown Waco and 5 miles north of Waco Regional Airport. Gholson Road connects with I-35, a major north-south highway identified at 79k+ VPD. The surrounding area includes limited grocery competition, with this location described as one of only two grocery options serving the immediate area.
Key Highlights
- 9,100‑square‑foot retail property built in 2019
- Corporate absolute NNN lease with Dollar General
- 8+ Years Remaining with (3) 5‑Year Options to Renew
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$122,297
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,445,940
$2.4M
Cap Rate 7%
$1,747,100
$1.7M
Cap Rate 9%
$1,358,856
$1.4M
Market Conditions
NOI Build-Up for 9,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$180.2K $19.80/SF
− Vacancy
−$17.1K −$1.88/SF
EGI
$163.1K $17.92/SF
− OpEx
−$40.8K −$4.48/SF
NOI
$122.3K $13.44/SF
Area
Waco, TX
Vacancy
9.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,445,940
Cap Rate 7%
$1,747,100
Cap Rate 9%
$1,358,856
Alternative Uses
Best Use
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,297 @ 7.0% cap · market cap 8.58%
Second Best
Retail
$1.51M
$1.33M – $1.77M
NOI $106,041 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $168,059 @ 7.0% cap · market cap 11.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
4k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
3,550 visits/mo
0.1 miles
Demographics for 76705, TX
31,736
Population
12,107
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
118.6 sq mi
ZIP Area
268
Density / Sq Mi
$54,881
Median Household Income
$33,076
Median Earnings
$941
Median Rent
$167,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - 2019-built retail building supported by a corporate guarantee and absolute NNN lease structure.
Where is this nnn property located?
The property is located at 13056 Gholson Road Waco, TX.
What is the asking price?
The asking price for this property is $1,425,732.
What are key features of this property?
This property features: 9,100‑square‑foot retail property built in 2019; Corporate absolute NNN lease with Dollar General; 8+ Years Remaining with (3) 5‑Year Options to Renew
