1417 Hewitt Dr 2,419 SF Retail Building Woodway, TX 76712 $3,535,658 CAD ($1,461.62 CAD/SF) 6% Cap Rate

This offering represents the opportunity to acquire a fee simple interest in a single tenant, net leased Wendy's located in Waco, Texas. The property is operated by 916 Foods, a very strong multi-unit franchisee within the Wendy's system, and represents an established, high-performing location with a proven operating history.
The property is priced at a 6.00% cap on the upcoming rent step to $154,880 (August 2028), with a seller credit at close of escrow to bridge the buyer to the higher rent — delivering an effective 6% yield from day one with 10% increases coming again in 2033. The investment is supported by approximately 12 plus years of remaining lease term on the original term with four additional five-year renewal options, offering investors a predictable and growing income stream. The true triple-net structure ensures minimal management requirements, making it well suited for passive investors and 1031 exchange buyers.
The property is strategically located along Hewitt Drive, a high-traffic retail corridor carrying over 30,000 vehicles per day, with direct access to Interstate 35 and proximity to the Highway 6 interchange. The immediate trade area is anchored by national retailers including H-E-B Plus, Walmart Supercenter, CVS Pharmacy, and Walgreens, alongside a strong lineup of national QSR brands, supporting strong consumer draw and long-term real estate fundamentals.
The combination of an effective 6% going-in yield, long-term leased income, contractual rent growth, and a proven retail corridor makes this an attractive, low-management investment opportunity.