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Milo, Salon Asylum, Spendid Oaks | Waco, TX 1020 Franklin Ave 9,600 SF 100% Leased Retail Building Waco, TX 76701 $3,218,000 ($335.21/SF) 6.50% Cap Rate
Investment Highlights
- 100% Occupancy with Internet-Resistant Tenants in the Highly Sought After Silo District in Downtown Waco
- Below-Market Rents: Current lease structures offer significant upside potential for investors
- Salon Asylum: A top-tier salon provides the property with a stable, repeat-clientele base that is “internet-proof”
- Milo All Day is Widely Regarded as the Premier Dining Destination in Waco, Consistently Ranking as the City’s “Best” Across Multiple Platforms
- Strategic Proximity to Major Economic Drivers: The site is within walking distance of the $25MM Magnolia Headquarters
Executive Summary
3-Tenant Retail Center in Silo District in Downtown Waco | Hard-Corner Signalized Intersection | Attractive Low Rents
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
9,600 SF
Building Class
B
Year Built/Renovated
1959/2018
Price
$3,218,000
Price Per SF
$335.21
Cap Rate
6.50%
NOI
$209,170
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.46
Lot Size
0.48 AC
Opportunity Zone
Yes
Zoning
2007 TIF
Parking
20 Spaces (2.08 Spaces per 1,000 SF Leased)
Frontage
133’ on Franklin Ave
Amenities
- Restaurant
- Signage
- Wheelchair Accessible
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 48-016600-002300-0 | Improvements Assessment | $1,278,150 |
| Land Assessment | $522,720 | Total Assessment | $1,800,870 |
Property Taxes
Parcel Number
48-016600-002300-0
Land Assessment
$522,720
Improvements Assessment
$1,278,150
Total Assessment
$1,800,870
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Milo, Salon Asylum, Spendid Oaks | Waco, TX | 1020 Franklin Ave
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