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    1103 N Lacy Dr Waco, TX 76705

    View on Map
    Sponsored
    Picture of Auto shops at N Lacy Dr 1103, Waco, TX
    For Sale
    $539,000

    Business - Waco, TX

    Type:Business
    Property size:
    2,260 SF
    Lot size:
    0.74 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 28 at 11:06 am

    Property Features for 1103 N Lacy Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Business
    Standard status
    Active
    APN
    114480
    Size
    2,260 SF
    Lot size
    0.74 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1946
    Flooring type
    Concrete
    Building materials
    Concrete, Metal Siding
    Roof type
    Metal, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Richard Zelaya

    Dash Realty

    Listing agent Richard Zelaya License #0507569

    Listing date Mar 26, 2026

    MLS# 21215721 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.

    Learn more

    Property Insight Report

    Overview

    Waco Automotive Business Opportunity

    This property presents an exceptional business opportunity with diverse automotive business options. It features an established and busy auto repair shop with tremendous potential to expand business operations into auto bodywork, tire repair, towing service, and used car sales. The property also includes a homeowner-occupied, 3-bedroom, 1-bath home. The shop building, constructed in 2024, spans over 3000 square feet and includes 2 heavy-duty lifters that will convey with the sale. The home was built in 1946. The property is located in Waco, TX, and has a lot size of 0.74 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    77 Automotive Service ... Auto Repair Shop

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Hair Salon Auto Repair Shop Nail Salon Hotel & Motel Auto Parts Store Storage Facility

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

    Similar Places Nearby

    Chuck's Automotive Center, B&B Muffler, JJ Tires Shop, SunLightProWindowTint/JJTireShop, Elevate Automotive, LLC

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.102081
    Latitude
    31.646685

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    FAQs

    What type of property is this?
    Auto shop - Established auto repair shop with expansion potential and residential home.
    Where is this auto shop located?
    The property is located at 1103 N Lacy Dr Waco, TX.
    What is the asking price?
    The asking price for this property is $539,000.
    What are key features of this property?
    This property features: - Established auto repair shop with potential to expand.; - Over 3000 sq-ft shop building built in 2024.; - Includes **2 heavy-duty lifters**.
    (877) 987-7653
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    1103 N Lacy Dr Waco, TX 76705
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    Waco, TX 76705
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    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
    1103 N Lacy Dr Waco, TX 76705
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    Listing Contact
    Richard Zelaya
    Real Estate License ID: 0507569
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