Flex Space Building with
For Sale
$750,000
1013 Austin Avenue, Waco, TX 76701
Two flex space units with a breezeway connecting buildings and a covered, secured rear patio with alley access.
Property Size7,800 SF
Days on Market95
Property Features for 1013 Austin Avenue
General Information
Standard status
Active
Size
7,800 SF
Property subtype
Office
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$6,475
Amenities
breezeway
elevated roof level platform
secured rear patio
Building Details
Building Size
7,800 SF
Year Built
1920
Buildings
2
Listing Agency:
Kelly, Realtors
Listed By:
Richard Shelton · License #484694
(254) 722-5680
Source:
Whitelabelrealty
Added: Jul 28
Changed: Oct 25
Last Checked: Oct 28 at 1:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kelly, Realtors
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex space property includes two units, each approximately 3,900 SF, with a breezeway and an elevated roof-level platform between the buildings. The buildings were built in 1920 and 1935, and the layout supports multiple use options. One side has been used as a recording studio, an office, a furniture store, and a residence, while the other side has recently been used as a warehouse storage facility.
A covered rear patio area is enclosed for security with an iron gate and security bars, and it provides access from an alley. The existing configuration can support a tenant looking for flexible space that accommodates both office and storage needs within the same overall property.
A covered rear patio area is enclosed for security with an iron gate and security bars, and it provides access from an alley. The existing configuration can support a tenant looking for flexible space that accommodates both office and storage needs within the same overall property.
Key Highlights
- Two flex space units, approximately 3,900 SF each
- Breezeway and elevated roof‑level platform between the buildings
- Buildings built in 1920 and 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,943
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,860
$1.4M
Cap Rate 7%
$984,900
$984.9K
Cap Rate 9%
$766,033
$766.0K
Market Conditions
NOI Build-Up for 7,800 SF
Gross rent
$107.6K $13.80/SF
− Vacancy
−$9.1K −$1.17/SF
EGI
$98.5K $12.63/SF
− OpEx
−$29.5K −$3.79/SF
NOI
$68.9K $8.84/SF
Area
Waco, TX
Vacancy
8.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,860
Cap Rate 7%
$984,900
Cap Rate 9%
$766,033
Alternative Uses
Best Use
Office B
$1.55M
$1.36M – $1.81M
NOI $108,441 @ 7.0% cap · market cap 14.46%
Second Best
Flex RnD
$1.12M
$981.4K – $1.31M
NOI $78,514 @ 7.0% cap · market cap 10.47%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,050 @ 7.0% cap · market cap 19.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,131
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76701, TX
1,674
Population
1,029
Households
1.6
Avg Household Size
29
Median Age
32%
College-Educated
92%
High-School Grad
1.1 sq mi
ZIP Area
1,522
Density / Sq Mi
$24,593
Median Household Income
$21,897
Median Earnings
$1,008
Median Rent
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Similar Off Market Nearby
- Broken G BBQ — 511 S 8th St, Waco, TX 76706
- Club Sandwich Food Truck — 601 Webster Ave, Waco, TX 76706
Frequently Asked Questions
What type of property is this?
Flex space - Two flex space units with a breezeway connecting buildings and a covered, secured rear patio with alley access.
Where is this flex space located?
The property is located at 1013 Austin Avenue Waco, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two flex space units, approximately 3,900 SF each; Breezeway and elevated roof‑level platform between the buildings; Buildings built in 1920 and 1935
