Nec Bagby Ave. & Corporation Pkwy, Waco, TX 76712

Property Details for 0 Nec Bagby Ave. & Corporation Pkwy

Year built

2024

Lot size

3.42 lot acres

Property type

Retail properties & Spaces

Property subtype

Retail space

Description

Exceptional investment opportunity: a brand-new, 4,650 square foot 7-Eleven convenience store and gas station in Waco, Texas, is available for purchase. This single-tenant, net-lease property boasts a 15-year corporate guaranteed lease commencing August 1, 2024, and expiring August 1, 2039, with four 5-year renewal options. The lease includes a favorable 7.5% rent increase every five years throughout both the primary term and option periods. The property sits on a substantial 3.42-acre lot and features a diesel fuel terminal, 41 parking spaces, and 8 multi-product dispensers. Located at the northeast corner of Bagby Avenue (23,733+ vehicles per day) and Corporation Parkway (12,586+ vehicles per day), this high-traffic location is conveniently situated just half a mile from Interstate 35 and Highway 6, and only four miles from Baylor University. Benefiting from its strategic location adjacent to a large Amazon fulfillment center and the Baylor Scott & White Medical Center – Hillcrest, this property offers exceptional stability and growth potential. The property's strong financials include a 5.10% cap rate and a net operating income (NOI) of $581,134. The asking price is $11,395,000, translating to a price per square foot of $2,450.54. Waco's robust economy, with its projected 38.3% job growth over the next decade, further enhances the investment appeal of this exceptional property. The building was constructed in 2024 and is currently 100% occupied.

Location Insight

City

Waco

County

McLennan

State

Texas

Longitude

-97.1665

Latitude

31.4934