800 Wooded Acres Dr Waco, TX 76710-4546

Property Details for 800 Wooded Acres Dr

Year built

1969

Construction

STEEL FRAME

Lot size

1.68 lot acres

Property size

10,230 SF

Zone code

C-3

Property type

Commercial real estate

APN

480096010013061

APU

480096010013061

Description

Exceptional investment opportunity featuring a 9,834 square foot retail property currently occupied by the United States Postal Service (USPS) at 800 Wooded Acres Dr, Waco, TX 76710. This single-tenant building, constructed in 1970, sits on a substantial 72,989 square foot lot, providing ample space for postal operations and customer parking. The property boasts a 100% occupancy rate with a modified lease in place, featuring a corporate guarantee and credit-rated tenant, ensuring financial stability. The current lease term extends until May 31, 2030, representing a remaining lease term of 5.5 years. The current annual rent is $132,188, translating to a rental rate of $18.74 per square foot. The lease includes a landlord maintenance rider and a USPS tax reimbursement rider. A significant advantage is the inclusion of a five-year renewal option, commencing in 2030, with a projected annual rent of $145,407. The asking price is $1,783,000, reflecting a 6.50% capitalization rate based on the increased rental rate commencing next year, with the seller crediting any rent variance between closing and the rental rate increase. This property presents a compelling investment opportunity due to its strong tenant, long-term lease, and potential for future rental growth. The property's location in Waco, McLennan County, Texas offers excellent visibility and accessibility.

Location Insight

City

Waco

County

Mclennan

State

Texas

Longitude

-97.1917

Latitude

31.5289

CBSA code

47380

CBSA name

WACO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments