812 6Th StWaco, TX 76706

This exceptional investment opportunity presents a 2,847 square foot Cava restaurant, a newly constructed (2023) building situated on a 0.85-acre lot at 812 S 6th St, Waco, TX 76706. The property boasts a 10-year net lease with four 5-year renewal options, featuring a 10% rent increase every five years in both the primary term and options. The lease commenced November 1, 2023, and is backed by a corporate guarantee from Cava Group, a publicly traded company with a market capitalization exceeding $4 billion. This strategically located asset benefits from high visibility, situated near Interstate 35 (62,405+ vehicles per day) and S 5th St (4,159+ vehicles per day), and enjoys proximity to Baylor University, with its student population exceeding 20,000. The property offers a compelling 5.75% cap rate with a current NOI of $190,500 and an asking price of $3,313,000 ($1,163.68 per square foot). Cava Group is the largest Mediterranean restaurant operator in the US. This is a legacy asset in a rapidly growing market, halfway between Dallas and Austin, in a city with a population exceeding 136,800. The property is 100% occupied.