CAVA

812 South 6th Street, Waco, TX 76706

$3,313,000

Cap Rate 5.75%

Views: 171 DOM: 245 Updated: 10.25.24 Posted: 03.21.24 Status: Active

Summary

Price $3,313,000	Built/Renov 1985/2023	Tenant CAVA
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Corp Traded
Size/SF 2,847	Lease Start 11-01-2023	#Units 300
Price/SF $1,163.68	Expiration 11-01-2033	Tenant Type Fast Casual/Rest.
NOI $190,500	R. Term 8.11	Ownership Fee Simple
Rent/SF $66.91	Increases 10.0%/4/yrs	Pop 5Mi 128,097
Lot/AC 0.85	Options 4/5yrs/10%	AHHI 5Mi $69,955

Lease Highlights

CAVA has 9 years remaining on the current lease term with 4 (5-year) options to extend
10% rental increases every 5 years in primary term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease (NYSE: CAVA)

Location Description

CAVA is strategically located at the signalized, hard corner intersection of Interstate 35 and S 5th Street, with access to a combined daily traffic count of 30,000 vehicles. The property enjoys a convenient location adjacent to Baylor University, which boasts over 20,000 students. Furthermore, the renowned Magnolia Market at the Silos is just 0.3 miles away from the site. Additionally, in the...

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Key Features

Recent renovation
Dense retail corridor
Near major nationals
Freeway close
University college close
Dense 100M+ pop 5 mi
Major MSA
Absolute NNN
Corporate Guarantee
Publicly traded company

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Links

CAVA Wikipedia CAVA Wikipedia Waco, Texas Zip Code 76706 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: CAVA
Guarantor:Corp Traded
Company:CAVA Group
# Units:300
Stock: NYSE: CAVA

About Tenant

CAVA is a Mediterranean culinary brand with a flavorful and healthy fast-casual restaurant experience featuring customizable & crave-able salads, bowls, and pitas. CAVA also produces a line of...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	15,623	75,406	131,196
2023 Total Population :	15,010	73,032	127,700
2023 Employed Civilian Pop :	5,777	30,445	55,157
2023 Total Businesses :	941	2,607	5,381
2023 Average Household Income :	$ 39,678	$ 52,236	$ 62,014
2023 Total Consumer Spending :	$ 167 M	$ 1199 M	$ 2645 M
2023 Median Age :	22	26	30
2023 Total Households :	4,736	25,843	48,310
2023 Pop Age 25+: Bachelor's Degree :	869	4,484	10,138
2023 Average Home Value :	$ 137,907	$ 159,226	$ 189,882

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S 6th St	Cleveland Ave	2010	6,710	0.07 mi
S 5th St	Clay Ave	2010	7,480	0.09 mi
S 4th St	Clay Ct	2010	4,690	0.15 mi
Dutton Ave	S 6th St	2010	5,630	0.20 mi
I- 35 Svc Rd	S 4th St	2002	8,400	0.20 mi
S 6th St	Jackson Ave	2010	3,230	0.30 mi
S 8th St	Dutton Ave	2010	8,120	0.33 mi
S 3rd St		2010	1,310	0.36 mi
Dutton Ave	M L Cooper St	2011	8,300	0.38 mi
Clay Ave	S 2nd St	2010	1,490	0.38 mi

Listing Broker

Edward Benton

Secure Net Lease

Contact

36 Listings
3941 Views
7 Sold

Bob Moorhead

Secure Net Lease

Contact

85 Listings
8468 Views
33 Sold

Edward Benton

With over 13 years of commercial real estate experience and a diverse investment sales background, Ed Benton advises clients in the acquisition and disposition of multi-tenant and single tenant investment properties nationwide. Ed started his career with Marcus & Millichap in 2006 and worked at a boutique retail development and brokerage company before joining Secure Net Lease in August of 2019. Ed’s wide breadth of experience working with developers and restaurant operators as well as p

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Bob Moorhead

Bob Moorhead is a founding partner of Secure Net Lease and brings over 20 years of commercial real estate experience to the executive team. Prior to Secure Net Lease, Bob was the Managing Director of EXP Realty Advisors (formerly Kimco Exchange Place) Dallas, Texas office. While at EXP, Bob was a top producer and responsible for establishing the Dallas office, building the team and platform. Since 2011, Bob has been involved in over 600 transactions with a value exceeding $1.5 billion.

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