1417 Hewitt Dr 2,419 SF Retail Building Woodway, TX 76712 $2,384,000 ($985.53/SF) 6.50% Cap Rate

This offering presents the opportunity to acquire a fee simple interest in a single tenant, net leased Wendy’s located in Waco, Texas, within one of the area’s most active retail corridors. The property represents a proven, high performing location with a strong operating history and consistent sales performance over time.
The investment is strategically positioned along Hewitt Drive, a primary retail artery carrying over 30,000 vehicles per day, with convenient access to Interstate 35 and proximity to the Highway 6 interchange. The surrounding trade area is anchored by national retailers including H E B Plus, Walmart Supercenter, CVS Pharmacy, and Walgreens, along with a strong presence of national quick service brands. This concentration of retail, coupled with dense residential growth and nearby employment centers, continues to drive steady consumer demand and long term viability for the location.
The property is priced at a 6.50% cap rate based on the upcoming rent increase to $154,880 in August 2028, with a seller credit at close of escrow to effectively deliver a 6.50% yield from day one. The lease provides approximately 12 years of remaining term on the original term, with four additional five year renewal options and 10% rent increases throughout the option periods, offering a durable and growing income stream. The true triple net structure ensures minimal landlord responsibilities, making it well suited for passive investors and 1031 exchange buyers.
The combination of a high visibility location, established operating performance, contractual rent growth, and long term tenancy within a proven retail corridor positions this as an attractive, low maintenance investment opportunity.