Corner Retail
For Sale
Contact for pricing
4909 W Waco Dr, Waco, TX 76710
Attractive corner retail building with two access points and strong daily traffic count.
Property Size20,010 SF
Price / SF$174.91
Days on Market85
Property Features for 4909 W Waco Dr
General Information
Standard status
Active
Size
20,010 SF
Property subtype
RETAIL
Additional Details
Traffic Count
34,000 vehicles/day
Listing Agency:
Cromwell Commercial Group
(254) 313-0000
Listed By:
Raynor Campbell
(254) 644-1838
Source:
Moodyscre
Added: Jun 15
Changed: Sep 2
Last Checked: Sep 7 at 10:13AM
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 Cromwell Commercial Group
Investment Insights
Based on property information with market context.
This attractive retail storefront property is offered for sale with a long-term tenant in place and 4 years remaining on the existing lease. The building is positioned at a busy corner and includes two points of access, supporting convenient customer flow.
The property’s location is described as an established retail corridor with nearby schools, churches, restaurants, banks, and professional offices. Public remarks also note approximately 34K vehicles per day passing the site.
Overall, the asset presents a retail storefront configuration designed for visibility in an active neighborhood retail setting, with current occupancy covered by the remaining lease term.
The property’s location is described as an established retail corridor with nearby schools, churches, restaurants, banks, and professional offices. Public remarks also note approximately 34K vehicles per day passing the site.
Overall, the asset presents a retail storefront configuration designed for visibility in an active neighborhood retail setting, with current occupancy covered by the remaining lease term.
Key Highlights
- Long‑term tenant in place with 4 years remaining on the lease
- Corner retail building with 2 points of access
- Visible on a busy corner with 34K vehicles per day
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
$233,175
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
6.66%
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%
$4,663,500
$4.7M
Cap Rate 7%
$3,331,071
$3.3M
Cap Rate 9%
$2,590,833
$2.6M
Market Conditions
NOI Build-Up for 20,010 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
$372.2K $18.60/SF
− Vacancy
−$39.1K −$1.95/SF
EGI
$333.1K $16.65/SF
− OpEx
−$99.9K −$4.99/SF
NOI
$233.2K $11.65/SF
Area
Waco, TX
Vacancy
10.50%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
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%
$4,663,500
Cap Rate 7%
$3,331,071
Cap Rate 9%
$2,590,833
Alternative Uses
Best Use
Retail
$3.33M
$2.91M – $3.89M
NOI $233,175 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.28M
$4.62M – $6.16M
NOI $369,545 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
34,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
223k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 32%
Apparel 25%
Home Improvements & Furnishings 24%
Dining 10%
Dillard's
Apparel
55,730 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
51,358 visits/mo
0.2 miles
Barnes & Noble
Shops & Services
25,270 visits/mo
0.1 miles
Ollie's Bargain Outlet
Shops & Services
23,028 visits/mo
0.2 miles
Big Lots
Superstores
20,282 visits/mo
0.1 miles
Demographics for 76710, TX
24,874
Population
12,391
Households
2
Avg Household Size
38
Median Age
32%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,675
Density / Sq Mi
$53,304
Median Household Income
$36,425
Median Earnings
$1,098
Median Rent
$229,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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- Paul Farney — 501 Lake Air Dr, Waco, TX 76710
Frequently Asked Questions
What type of property is this?
Storefront property - Attractive corner retail building with two access points and strong daily traffic count.
Where is this storefront property located?
The property is located at 4909 W Waco Dr Waco, TX.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Long‑term tenant in place with 4 years remaining on the lease; Corner retail building with 2 points of access; Visible on a busy corner with 34K vehicles per day
