3900 Bosque Blvd, Waco, TX for sale

Investment Overview

Fairgate Shopping Center is a ±122,855-square-foot multi-tenant retail strip center situated on approximately 10.4 acres along Bosque Boulevard, one of Waco's primary retail corridors. The property is supported by a durable roster of national and regional tenants — including Harbor Freight, Dollar General, and DuBois Furniture — that anchor a reliable in-place income stream, while a block of vacant and below-market space offers a clear value-add path through lease-up and mark-to-market rents. Positioned in a high-traffic Central Texas trade area driven by Baylor University, a nationally recognized tourism economy, and sustained growth along the I-35 corridor between Dallas–Fort Worth and Austin, Fairgate presents investors a well-located, income-producing asset with meaningful upside. The value-add opportunity is both well defined and executable. Several vacant and expiring suites — concentrated in the center's small-shop and end-cap space — offer a new owner immediate lease-up potential, while a number of in-place tenants sit meaningfully below prevailing market rents, creating further upside as leases roll and are marked to market. Achievable market rents across the center's small-shop, mid-inline, and junior-box tiers support a clear path to stabilization at a modest, quantifiable lease-up cost, positioning the asset to grow net operating income.

Investment Highlights

• Longstanding Waco Shopping Center
• In Place Income
• Value Add Component
• Below Market Rents
• Well Below Replacement Cost
• Growing Central Texas Market
• Potential Pad Sites