Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1201 Spring St Waco, TX 76704

    View on Map
    Sponsored
    For Sale
    $85,000

    Unimproved Land - Waco, TX

    Type:Unimproved Land
    Lot size:
    0.19 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 6 at 6:06 pm

    Property Features for 1201 Spring St

    General Information

    Property type
    Land
    Property subtype
    Unimproved Land
    Standard status
    Active
    APN
    480257000133005
    Lot size
    0.19 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Leah Hodges

    Always Here Properties, LLC (254) 768-0047

    Listing agent Leah Hodges (254) 768-0047 License #0686429

    Listing date Mar 5, 2026

    MLS# 21199688 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 Land in Opportunity Zone

    This 0.19-acre corner lot is located on Spring Street in Waco, Texas. The property is situated in an opportunity zone, minutes from downtown Waco, Baylor University, I-35, and Magnolia Market. The area is rapidly developing with new construction and revitalization projects. The lot offers frontage and visibility, with options for residential or investor-minded buyers. It is suitable for immediate development or as a strategic land investment. The property has no HOA.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.110306
    Latitude
    31.560816

    Nearby Similar for Sale

    • $900,000
      0.58 Acres

      Waco Retail/Medical Opportunity

      Commercial building suitable for medical or retail in prime Waco location.
      1210 Lake Air Dr, Waco, TX 76710
      View Details
    • $350,000
      0.38 Acres

      Waco Corner Lot Opportunity

      Highly visible corner lot near Downtown Waco, previously a daycare.
      2000 N 25Th St, Waco, TX 76708
      View Details
    • $525,000
      0.46 Acres

      Bellmead Office Building For Sale

      Versatile office building in high-growth area near IH-35.
      3715 Bellmead Dr, Waco, TX 76705
      View Details
    • $449,000
      0.57 Acres

      Retail Property Near Downtown Waco

      Retail property on a corner lot, minutes from Downtown Waco.
      1818 Morrow Ave, Waco, TX 76707
      View Details
    • $525,000
      0.47 Acres

      Waco Office Building For Sale

      High-visibility commercial building in Waco, near New Road and Bosque.
      1311 N New Rd, Waco, TX 76710
      View Details
    • $1,100,000
      5.95 Acres

      Equipped Church on Highway 77

      Fully equipped church with classrooms, offices, and ample parking.
      2801 Robinson Dr, Waco, TX 76706
      View Details
    • $235,000
      2,100 SF

      McGregor Airport Airplane Hangar

      2100 sq ft airplane hangar at McGregor Executive Airport.
      27474 Highway 84 W, Waco, TX 76657
      View Details
    • $420,000
      0.34 Acres

      Former Daycare on Memorial Drive

      Versatile property with multiple lots, ideal for redevelopment.
      4306 Memorial Dr, Waco, TX 76711
      View Details
    • $1,600,000
      0.13 Acres

      Waco Event Center Opportunity

      Historic event center near downtown Waco available for sale.
      520 Elm St, Waco, TX 76704
      View Details
    • $349,999
      0.20 Acres

      Waco Retail Property Opportunity

      Versatile commercial space with development potential in Waco, Texas.
      1501 Herring Ave, Waco, TX 76708
      View Details
    • $425,000
      3,296 SF

      Bellmead Multi-Unit Investment Opportunity

      Multi-unit package with strong rental potential and room to grow.
      1011-1013 La Clede St, Waco, TX 76705
      View Details
    • New
      $1,350,000
      2,684 SF

      Texas Ranch on Brazos River

      36-acre ranch with river frontage near Waco, Texas.
      203 River Ln, Waco, TX 76708
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.19-acre corner lot near downtown Waco and Baylor University.
    Where is this commercial land located?
    The property is located at 1201 Spring St Waco, TX.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: - Prime location minutes from downtown Waco, Baylor University, I-35, and Magnolia Market.; - Located in a rapidly developing area with new builds and revitalization.; - Corner lot with fantastic frontage and great visibility.
    (254) 768-0047
    Request Owner's contact information
    1201 Spring St Waco, TX 76704
    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.
    1201 Spring St
    Waco, TX 76704
    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
    1201 Spring St Waco, TX 76704
    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

    We can help!
    Listing Contact
    Leah Hodges
    Real Estate License ID: 0686429
    (254) 768-0047 (254) 709-4385
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!