Listed by Coldwell Banker Commercial Apex, Realtors, Hanley Investment Group
$3,100,000
Milo, Salon Asylum, Spendid Oaks | Waco, TX
Details
Property Type Retail
Sub Type Restaurant, Storefront
Square Footage 9,600
Net Rentable (SqFt) 9,600
Cap Rate 6.75%
NOI $209,136
Occupancy 100%
Tenancy Multi
Year Built 1959
Year Renovated 2018
Acreage 0.480
Ground Lease No
3-Tenant Retail Center in Silo District
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://bit.ly/Milo_Asylum_SplendidOaks
Investment highlights
- 100% Occupancy with Internet-Resistant Tenants in the Highly Sought After Silo District in Downtown Waco
- Milo All Day is Widely Regarded as the Premier Dining Destination in Waco, Consistently Ranking as the City’s “Best” Across Multiple Platforms:
- Milo All Day is a chef-driven, southern-inspired anchor that functions as a “neighborhood living room,” attracting customers from breakfast through dinner
- Critically Acclaimed: Regularly featured on the Eater Dallas/Texas “Hot Map,” Milo has transitioned from a beloved food truck to a sophisticated brick-and-mortar powerhouse; it holds consistent high ratings across Yelp and Google with thousands of reviews
- Splendid Oaks Chocolates | The Destination Confectionery:
- Handcrafted Excellence: Known for premium, small-batch chocolates and world-class ice cream, Splendid Oaks acts as the perfect “dessert destination” for the crowds finishing their meals at Milo
- Salon Asylum: A top-tier salon provides the property with a stable, repeat-clientele base that is “internet-proof”
- Below-Market Rents: Current lease structures offer significant upside potential for investors through future mark-to-market rental increases in a rapidly appreciating downtown submarket
- Strategic Proximity to Major Economic Drivers: The site is within walking distance of the $25MM Magnolia Headquarters (Chip & Joanna Gaines), the Brazos Riverfront Development, and the Foster Pavilion (Baylor Basketball Arena), ensuring constant foot traffic from both locals and tourists
Listing Contacts
Listed by Coldwell Banker Commercial Apex, Realtors, Hanley Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$209,136.00
$17,428.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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