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    Auto Repair Property with Shop Title is generated by Realmo AI

    1103 N Lacy Drive, Waco, TX 76705

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    Claim this Listing
    For Sale
    $539,000

    COMMERCIAL - Waco, TX

    Property size:
    2,260 SF
    Lot size:
    0.74 Acres
    Price / SF:
    $238/SF
    Added:
    Apr 10, 2026
    Days on Market:
    57
    Last Refresh:
    Jun 5 at 8:06 pm

    Property Features for 1103 N Lacy Drive

    General Information

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

    Taxes and HOA fees

    Tax Description
    EATON A P ACRES 0.74
    Tax Annual Amount
    3152

    Utilities

    Utilities
    Propane
    Sewer type
    Public Sewer, Septic Tank
    Heating system
    Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1946
    Floors in Building
    1
    Number of units
    3
    Flooring type
    Concrete
    Building materials
    MetalSiding, Concrete
    Roof type
    Shingle, Metal

    We can help!

    Listing Contact
    Richard Zelaya

    Listing agent Richard Zelaya License #0507569

    Listing office Dash Realty Pflugerville, TX

    Listing date Apr 10, 2026

    MLS# 21215721

    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

    • Includes a homeowner‑occupied 3‑bedroom, 1‑bath home built in 1946
    • On‑site 2,260 sq‑ft shop building built in 2024 with 2 heavy‑duty lifters that convey with the sale
    • Auto repair shop with existing automotive business options on the property
    • Utilities include propane; water source is public and sewer includes public sewer and a septic tank
    • Central air cooling and electric heating; concrete flooring throughout
    • Roofing includes shingle and metal; exterior construction materials are metal siding and concrete

    Overview

    This for-sale automotive property combines an established, busy auto repair shop with room to grow into additional service lines. The site includes a 2,260-square-foot shop building constructed in 2024, featuring two heavy-duty lifters that will convey with the sale. In addition to the shop, the property also includes a homeowner-occupied 3-bedroom, 1-bath home, built in 1946, giving the seller’s residence on-site.

    Located at 1103 N Lacy Drive in Waco, TX 76705, the property sits on 0.74 acres, providing a compact footprint for an owner-operator or an automotive business looking to add services over time. The current configuration supports a repair-focused operation while leaving flexibility to broaden the scope.

    For buyers seeking an automotive-oriented setup, the newer shop construction and included heavy-duty lifting capacity align well with continued repair work and potential expansion into complementary uses such as auto bodywork, tire repair, towing services, or a used car sales component. The combination of shop space and an on-site residence can also appeal to operators who want day-to-day proximity to the business.
    Property Profile 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 — 1000 E Crest Dr, Waco, TX 76705
    • B&B Muffler — 1000 E Crest Dr, Waco, TX 76705
    • JJ Tires Shop — 110 E Crest Dr, Waco, TX 76705
    • SunLightProWindowTint/JJTireShop — 110 E Crest Dr, Waco, TX 76705
    • Elevate Automotive, LLC — 1001 E Crest Dr, Waco, TX 76705

    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 - Modern shop improvements and an established repair operation offer expansion options for related automotive services.
    Where is this auto shop located?
    The property is located at 1103 N Lacy Drive 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: Includes a homeowner‑occupied 3‑bedroom, 1‑bath home built in 1946; On‑site 2,260 sq‑ft shop building built in 2024 with 2 heavy‑duty lifters that convey with the sale; Auto repair shop with existing automotive business options on the property
    (877) 987-7653
    We can help!
    Listing Contact
    Richard Zelaya
    Real Estate License ID: 0507569
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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.

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