Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1201 Hewitt Dr Woodway, TX 76712

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail space in established West Waco neighborhood center.

    Type:Retail
    Added:
    Sep 14, 2018
    Days on Market:
    2780
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 1201 Hewitt Dr

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2005

    Spaces For Lease

    at 1201 Hewitt Dr Contact us

    Suite 212A $20 /Mo

    Size
    1,300 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Gregg Glime, SIOR, CCIM

    Listing agent Gregg Glime, SIOR, CCIM

    Listing office Coldwell Banker Commercial Apex, Realtors

    Listing date Sep 14, 2018

    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 Coldwell Banker Commercial Apex, Realtors

    Overview

    Premier Retail Destination in Waco

    The Westrock Centre is a retail destination in West Waco. This neighborhood center is under new ownership and features a mix of medical, specialty, and service-oriented retailers. The property is surrounded by the growth path of Waco and anchored by three established restaurants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodway
    County
    McLennan
    State
    Texas
    Longitude
    -97.2121566
    Latitude
    31.4859283

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      TX, Woodway - Woodway Dr

      13701 Woodway Dr, Unit 2ND, Woodway, TX 76712
      View Details
    • $13 SF/Yr

      Warehouse with Showroom and Offices

      17,600 SF warehouse with showroom, offices, and fenced yard.
      1900 W Loop 340, Woodway, TX 76712
      View Details
    • $25 SF/Yr

      Woodway Office Space Available

      Class A office space with executive offices and ample parking.
      204 Woodhew Dr, Woodway, TX
      View Details
    • $10 SF/Yr

      Warehouse and Showroom Space Available

      Warehouse and showroom space with highway visibility, available December 2024.
      6175 N State Highway 6, Woodway, TX
      View Details
    • $9 SF/Yr

      Highway 6 Industrial Build-to-Suit

      Build-to-suit industrial spaces available on Highway 6 in Woodway.
      N Highway 6, Woodway, TX 76712
      View Details
    • $25 SF/Yr

      Functional Space in Woodway, Texas

      Versatile space suitable for retail, office, or light industrial use.
      8020 Central Park Dr, Woodway, TX 76712
      View Details
    • $22 SF/Yr

      Retail Center Spaces For Lease

      Retail spaces available in a high-traffic Woodway location.
      8810 Woodway Dr, Woodway, TX
      View Details
    • $10 SF/Yr

      Woodway Flex Space Available

      7,500 SF flex space with full conditioning for lease.
      7695 Bagby Ave, Woodway, TX
      View Details
    • Contact for pricing

      New Woodway Business Park Space

      Flexible spaces available in developing Woodway business park.
      226 Speegleville Road, Woodway, TX 76712
      View Details
    • $32 SF/Yr

      New Retail Space on Highway

      Located in a high-growth area with strong retail demographics.
      911 Jordan Ln, Woodway, TX
      View Details
    • Contact for pricing

      Retail Space on Estates Drive

      Retail space for rent, close to Highway 84.
      135 Estates Dr, Woodway, TX
      View Details
    • $1,500/Mo

      Woodway Flex Space Available

      Flex space available for rent in Woodway, Texas.
      4381 N State Hwy 6, Woodway, TX
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in established West Waco neighborhood center.
    Where is this retail space located?
    The property is located at 1201 Hewitt Dr Woodway, TX.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Premier retail destination in West Waco; Anchored by three of Waco's most established restaurants; Strategic mix of medical, specialty, and service‑oriented retailers
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Gregg Glime, SIOR, CCIM
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!