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    308 S Church Avenue, Troy, TX 76579

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    Claim this Listing
    For Lease
    $1,200/Mo $6 SF/Yr (calc)

    COMMERCIAL - Troy, TX

    Type:Office
    Property size:
    2,400 SF
    Lot size:
    2.49 Acres
    Added:
    Feb 19, 2026
    Days on Market:
    104
    Last Refresh:
    Jun 3 at 5:06 am

    Property Features for 308 S Church Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Property condition
    Under Construction
    Zoning
    GB
    Standard status
    Active
    APN
    530431
    Size
    2,400 SF
    Lot size
    2.49 Acres

    Taxes and HOA fees

    Tax Description
    JS LIFE COMMERCIAL, BLOCK 001, LOT 0001, ACRES 2.490

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    2025
    Floors in Building
    1
    Flooring type
    Concrete
    Building materials
    Frame, SteelFrame

    We can help!

    Listing Contact
    Jason Johnson

    Listing agent Jason Johnson License #0735122

    Listing office EG Realty 2201 Washington Ave, TX

    Listing date Feb 19, 2026

    MLS# 605078

    Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Only drive‑thru and build‑to‑suit space on I‑35 South between Waco and Temple.
    • Premier location on southbound I‑35, capturing commuter traffic heading into Temple.
    • Brand new construction (2025) offering build‑to‑suit options for customized interior.
    • Unrivaled scarcity as the only modern retail/office option in the micro‑market.
    • Two suites available: drive‑thru capable (~1,200 SF) and storefront/office (~1,200 SF).
    • Suites can be combined for a larger ~2,400 SF corner presence.

    Overview

    This commercial development is located at 308 Church Avenue in Troy, Texas. Situated on the southbound side of I-35, this property is positioned as a stop-in point for traffic heading into Temple. The building offers two suites: Suite 100, which is approximately 1,200 square feet and drive-thru capable, and Suite 200, which is approximately 1,200 square feet and suitable for retail or professional office space. The full footprint of approximately 2,400 square feet can be created by combining both suites. The building is new, offering the opportunity to tailor the interior. The location captures southbound I-35 traffic. This property is zoned GB and is located on a 2.49-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Bell
    State
    Texas
    Longitude
    -97.305559
    Latitude
    31.203029

    FAQs

    What type of property is this?
    Drive through restaurant - Brand new commercial development on I-35 between Waco and Temple.
    Where is this drive through restaurant located?
    The property is located at 308 S Church Avenue Troy, TX.
    What is the lease rate?
    The lease rate is $1,200 /Mo.
    What are key features of this property?
    This property features: Only drive‑thru and build‑to‑suit space on I‑35 South between Waco and Temple.; Premier location on southbound I‑35, capturing commuter traffic heading into Temple.; Brand new construction (2025) offering build‑to‑suit options for customized interior.
    (254) 541-0318
    We can help!
    Listing Contact
    Jason Johnson
    Real Estate License ID: 0735122
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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
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