Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Property on China Spring Title is generated by Realmo AI

    10215 China Spring Road, Waco, TX 76708

    View on Map
    Claim this Listing
    For Sale
    $634,000

    Business - Waco, TX

    Type:Business
    Property size:
    4,500 SF
    Lot size:
    0.55 Acres
    Price / SF:
    $140/SF
    Added:
    May 4, 2026
    Days on Market:
    26
    Last Refresh:
    May 29 at 7:06 pm

    Property Features for 10215 China Spring Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Parking features
    Parking Lot
    Standard status
    Active
    APN
    180210030002000
    Size
    4,500 SF
    Lot size
    0.55 Acres

    Utilities

    Heating system
    None (Heating)

    Building Details

    Year built
    2004
    Flooring type
    Concrete
    Building materials
    Brick, Concrete
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Melissa Croll
    Melissa Croll

    Listing agent Melissa Croll License #0560702

    Listing office Attlee Realty, LLC 8751 Collin McKinney Pkwy#1405, Mckinney, TX

    Listing date May 4, 2026

    MLS# 21259008 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Direct road frontage on China Spring Rd SH1637.
    • C3 zoning.
    • 0.55 AC (22,216 SF) lot.
    • Single‑story masonry building offering 4,500 SF.
    • Surface parking with drive‑around circulation.
    • Built in 2004.

    Overview

    Located on the north side of China Spring Road SH1637, this property features direct road frontage and surface parking with drive-around circulation. The west side borders Granada Drive, near the intersection of Saddle Creek Road. Neighboring uses include a restaurant, tobacco shop, auto detailing, and insurance offices. A residential subdivision is situated to the north along Valencia Drive. The property is zoned C3 and comprises a 0.55-acre (22,216 square feet) lot. A single-story masonry building of 4,500 square feet, constructed in 2003, is situated on the lot.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $83.7k $18.60
    − Vacancy −$8.8k −$1.95
    EGI $74.9k $16.65
    − OpEx −$22.5k −$4.99
    NOI $52.4k $11.65
    4,500 SF · lease $18.60/SF/yr · vacancy 10.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $749.1K
    $655.5K – $874.0K (±1% cap)
    NOI $52,438 @ 7.0% cap · market cap 8.27%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.19M
    $1.04M – $1.39M (±1% cap)
    NOI $83,106 @ 7.0% cap · market cap 13.11%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cougar Ridge Car ... Car Wash

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.240909
    Latitude
    31.629718

    Nearby Similar for Sale

    • $895,000
      3,900 SF

      Waco Mixed-Use Opportunity

      Two mixed-use units with multiple possibilities in Waco, TX.
      1013 Austin Avenue, Waco, TX 76701
      View Details
    • $550,000
      8,600 SF

      Waco Commercial Opportunity For Sale

      Versatile 8,600+ sqft space ideal for various uses.
      2225 Cumberland Avenue, Waco, TX 76707
      View Details
    • $2,750,000
      6,299 SF

      Unique Waco Commercial Property

      Historic property with income, hospitality infrastructure, and commercial flexibility.
      230 Halbert Ln, Waco, TX 76705
      View Details
    • $320,000
      4,782 SF

      High-Visibility Commercial Property on Franklin

      Versatile 4,782 SF commercial space on Waco's Franklin Avenue.
      2115 Franklin Avenue, Waco, TX 76701
      View Details
    • $389,900
      2,564 SF

      Newer Duplex: Income-Producing Investment

      Newer duplex in Waco, TX, ideal for investment.
      1617 Cumberland Avenue, Waco, TX 76708
      View Details
    • $525,000

      Waco Office Building For Sale

      High-visibility commercial building in Waco, near New Road and Bosque.
      1311 N New Road, Waco, TX 76710
      View Details
    • $1,150,000

      Landmark Office Building on Waco

      Prominent office building with unmatched visibility and modern amenities.
      3901 W Waco Drive, Waco, TX 76710
      View Details
    • $615,000
      3,246 SF

      Spacious Ranch Home with Acreage

      Ranch-style home on 16.73 acres near Waco, Texas.
      12145 Tree Lake Drive, Waco, TX 76708
      View Details
    • $1,350,000
      3,182 SF

      Downtown Waco Furnished Rental Property

      Turnkey short-term rental property in downtown Waco near Magnolia.
      632 S 7th Street, Waco, TX 76706
      View Details
    • $685,000
      2,329 SF

      Downtown Waco Business Opportunity

      Prime downtown location with high ceilings and rear entrance.
      707 Austin Avenue, Waco, TX 76701
      View Details
    • $325,000

      Waco Corner Lot Opportunity

      Highly visible corner lot near Downtown Waco, previously a daycare.
      2000 N 25th Street, Waco, TX 76708
      View Details
    • $349,999

      Waco Retail Property Opportunity

      Versatile commercial space with development potential in Waco, Texas.
      1501 Herring Avenue, Waco, TX 76708
      View Details

    FAQs

    What type of property is this?
    Retail property - Retail property with road frontage and ample parking.
    Where is this retail property located?
    The property is located at 10215 China Spring Road Waco, TX.
    What is the asking price?
    The asking price for this property is $634,000.
    What are key features of this property?
    This property features: Direct road frontage on China Spring Rd SH1637.; C3 zoning.; 0.55 AC (22,216 SF) lot.
    (972) 886-8357
    We can help!
    Listing Contact
    Melissa Croll
    Melissa Croll
    Real Estate License ID: 0560702
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    10215 China Spring Road, Waco, TX 76708
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!