Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    605-611 Austin Ave Waco, TX 76701

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    25,620 SF office building in prime downtown Waco.

    Property size:
    25,620 SF
    Lot size:
    0.30 Acres

    Property Features for 605-611 Austin Ave

    General Information

    Size
    25,620 SF
    Lot size
    0.30 Acres

    We can help!

    Listing Contact
    Taylor Ponton
    Source: Moodyscre

    Listing Agent: Taylor Ponton

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Downtown Waco Office Building For Sale

    The property at 605 Austin Ave in Waco, Texas, is available for sale. Constructed in 1910 and remodeled in 2012, this building offers approximately 25,620 square feet of space. It features a parking garage located on the first floor in the back of the building. Situated in the downtown area of Waco, Texas, the property has a tenant, Startup Waco, which leases 5,400 square feet on the 1st floor.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.1333739
    Latitude
    31.5559341

    Nearby Similar for Sale

    • $1,500,000
      2,684 SF

      36-Acre Brazos River Ranch

      Texas ranch featuring river frontage, pastures, and a brick home.
      203 River Ln, Waco, TX 76708
      View Details
    • $965,000
      0.19 Acres

      Spacious Duplex Near Baylor University

      Duplex near Baylor, converted to single-family with student rental potential.
      1915 S 7Th St, Waco, TX 76706
      View Details
    • $679,990
      1,556 SF

      Waco 5-Acre Multi-Home Property

      5-acre Waco property with three homes, barn, and shed.
      979 Old Mexia Rd, Waco, TX 76705
      View Details
    • New
      $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
    • $419,000
      0.31 Acres

      Waco Duplex in Midway ISD

      Well-maintained duplex in Sunwest Village, each unit with 3/2 layout.
      408-410 Prosperity Trl, Waco, TX 76657
      View Details
    • $700,000
      3,246 SF

      Spacious Ranch Home with Acreage

      Ranch-style home on 16.73 acres near Waco, Texas.
      12145 Tree Lake Dr, Waco, TX 76708
      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
    • $1,950,000
      3,684 SF

      Waco Ranch with Prime Pasture

      Ranch-style home on 84+ acres near Loop 340.
      4843 S 3Rd St Rd, Waco, TX 76706
      View Details
    • $3,950,000
      0.34 Acres

      Downtown Waco Retail Investment Opportunity

      Prime retail building in high-traffic Waco downtown location.
      611 Washington Ave, Waco, TX 76701
      View Details
    • $1,250,000
      0.41 Acres

      Landmark Office Building on Waco

      Iconic office building with unmatched visibility and modern amenities.
      3901 W Waco Dr, Waco, TX 76710
      View Details
    • $950,000
      0.58 Acres

      Prime Waco Commercial Building

      Strategically located commercial building suitable for medical or retail use.
      1210 Lake Air Dr, Waco, TX 76710
      View Details
    • New
      $425,000
      3,296 SF

      Waco 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

    FAQs

    What type of property is this?
    Office building - 25,620 SF office building in prime downtown Waco.
    Where is this office building located?
    The property is located at 605-611 Austin Ave Waco, TX.
    What are key features of this property?
    This property features: - Prime downtown Waco location; - Recently remodeled in 2012; - Includes a private parking garage
    (512) 482-0094
    Request Owner's contact information
    605-611 Austin Ave Waco, TX 76701
    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.
    605-611 Austin Ave
    Waco, TX 76701
    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
    605-611 Austin Ave Waco, TX 76701
    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
    Taylor Ponton
    (512) 482-0094
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.