The subject property is a two-tenant retail opportunity in Waco, Texas. The property consists of two freestanding buildings totaling 7,000 square feet. Occupied by Sprint and Mattress 1 One, both tenants have national credit; the triple-net leases have corporate guarantees. Sprint Corporation is the nation’s third largest carrier by subscriber base, and Mattress 1 One has over 200 locations. The buildings are new 2015 construction and are situated on 1.04 acres.
The subject property is located in a dense retail trade area along North Valley Mills Road, near the signalized intersection with Lake Air Drive. Traffic counts on North Valley Mills are approximately 29,400-vehicles per day and 13,500-vehicles per day on Lake Air Drive. Numerous national and regional retailers are in the surrounding area including Target, HEB Grocery, Office Depot, Hastings Entertainment, Aldi, dd’s Discount, Drug Emporium, Johnny Carino’s, Sonic Drive-In, McDonald’s, Whataburger, KFC, Wendy’s, Firestone, among others. The five mile population exceeds 124,800 residents with an average household income of $50,629
