NNN Retail
For Sale
Contact for pricing
508 N Loop 340, Waco, TX 76705
Retail asset associated with Napa Auto Parts and B2: Secondary & Highway Business District zoning.
Property Size8,840 SF
Price / SF$282.81
Days on Market140
Property Features for 508 N Loop 340
General Information
Standard status
Active
Size
8,840 SF
Total Parking Spaces
34
Property subtype
Retail
Zoning
B2: Secondary & Highway Business District
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$150,000
Additional Details
Cap Rate
6%
Building Details
Year Built
2019
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
SRS Real Estate Partners South Florida
(954) 703-3602
Listed By:
Jaime Salazar · License #SL3452271
Source:
Crexi
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 30 at 1:28PM
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 SRS Real Estate Partners South Florida
Investment Insights
Based on property information with market context.
This NNN retail property is associated with Napa Auto Parts and contains 8,840 square feet of building area. Constructed in 2019, the asset is classified within the NNN property category and identified with retail use.
The property is located at 508 N Loop 340 in Waco, Texas. Its B2: Secondary & Highway Business District zoning provides the applicable land-use designation for the site. The offering is presented with a 6.00% cap rate.
The property is located at 508 N Loop 340 in Waco, Texas. Its B2: Secondary & Highway Business District zoning provides the applicable land-use designation for the site. The offering is presented with a 6.00% cap rate.
Key Highlights
- 8,840‑square‑foot retail property
- Built in 2019
- B2: Secondary & Highway Business District zoning
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
$103,012
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
4.12%
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%
$2,060,240
$2.1M
Cap Rate 7%
$1,471,600
$1.5M
Cap Rate 9%
$1,144,578
$1.1M
Market Conditions
NOI Build-Up for 8,840 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
$164.4K $18.60/SF
− Vacancy
−$17.3K −$1.95/SF
EGI
$147.2K $16.65/SF
− OpEx
−$44.1K −$4.99/SF
NOI
$103.0K $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%
$2,060,240
Cap Rate 7%
$1,471,600
Cap Rate 9%
$1,144,578
Alternative Uses
Best Use
Retail
$1.47M
$1.29M – $1.72M
NOI $103,012 @ 7.0% cap · market cap 4.12%
Second Best
Industrial
$1.12M
$976.7K – $1.30M
NOI $78,136 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,257 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
115
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
4,929 visits/mo
0.5 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 - Retail asset associated with Napa Auto Parts and B2: Secondary & Highway Business District zoning.
Where is this nnn property located?
The property is located at 508 N Loop 340 Waco, TX.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 8,840‑square‑foot retail property; Built in 2019; B2: Secondary & Highway Business District zoning
