Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Development Land Opportunity Title is generated by Realmo AI

    124 Old Waco Rd, Temple, TX 76502

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    12+/- acres of development land in Temple's West Adams corridor.

    Type:Land
    Lot size:
    12.00 Acres
    Added:
    Mar 5, 2026
    Days on Market:
    89
    Last Refresh:
    Apr 5 at 8:44 pm

    Property Features for 124 Old Waco Rd

    General Information

    Standard status
    Active
    Lot size
    12.00 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Will Phipps
    Will Phipps

    Listing agent Will Phipps License #0744913

    Listing office Cromwell Commercial Group

    Listing date Mar 5, 2026

    Source Cbcworldwide

    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 Cromwell Commercial Group

    HighLights

    • 12+/- acres of prime development land
    • Strategically positioned near the high‑visibility corner of Old Waco Road and West Adams Avenue
    • Located in the heart of Temple’s booming West Adams corridor
    • High traffic volume (32,000 VPD)
    • Rare opportunity
    • Development potential

    Overview

    This is an opportunity to acquire approximately 12 acres of development land. The property is strategically positioned near the corner of Old Waco Road and West Adams Avenue in Temple's West Adams corridor. The location benefits from high visibility, with West Adams Avenue reporting 32,000 vehicles per day.
    Property Profile 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 Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Temple
    County
    Bell
    State
    Texas
    Longitude
    -97.4176
    Latitude
    31.1153

    Nearby Similar for Sale

    • $695,000
      3,600 SF

      Restaurant and Showroom Investment Opportunity

      Two-building investment with immediate income in high-traffic location.
      711 S 1st Street lot: 1, Temple, TX 76504
      View Details
    • $615,000
      7,800 SF

      Commercial Office Building with Signage

      Vacant office building with private offices, conference space, and new roof, positioned for flexible commercial tenancy.
      3606 Profit Place, Temple, TX 76502
      View Details
    • $350,000
      5,059 SF

      Temple Office Building For Sale

      Professional office building in Temple's Historic District, near downtown.
      518 N 5th Street, Temple, TX 76501
      View Details
    • $1,029,000
      7,289 SF

      Temple Commercial Opportunity

      Historic building with redevelopment potential in thriving downtown Temple.
      119 W French Avenue, Temple, TX 76501
      View Details
    • $70,000
      240 SF

      Freestanding Salon in East Temple

      Freestanding salon in East Temple, part of historic district.
      211 S 10th Street, Temple, TX 76501
      View Details
    • $199,999
      2,236 SF

      Versatile Commercial Mixed-Use Opportunity

      2,236 SF building in Temple, TX, ideal for investors.
      315 W Avenue M, Temple, TX 76504
      View Details
    • $215,000
      1,056 SF

      Temple Commercial Property For Sale

      Income-producing commercial property with an existing coffee shop tenant.
      201 S 31st Street, Temple, TX 76504
      View Details
    • $100,000
      409 SF

      Temple Commercial Property For Sale

      Versatile commercial property near I-35, suitable for various business uses.
      2309 W Avenue M, Temple, TX 76504
      View Details
    • $345,000
      2,752 SF

      New Temple Duplex For Sale

      New construction duplex with modern finishes and investment potential.
      1020 S 12th Street, Temple, TX 76504
      View Details
    • $349,999
      2,616 SF

      Spacious Duplex in Temple, TX

      Duplex with granite countertops, stained concrete floors, and dedicated workspaces.
      5010 205 Loop, Temple, TX 76502
      View Details
    • $412,500
      3,300 SF

      Downtown Temple Restaurant Opportunity

      Restaurant property with grease trap and walk-in cooler in Temple.
      8 S 1st Street, Temple, TX 76501
      View Details
    • $1,600,000

      Commercial Lot on Highway 317

      Commercial land suitable for various development projects on a busy highway.
      8064 State Highway 317 lot: 2, Temple, TX 76502
      View Details

    FAQs

    What type of property is this?
    Commercial land - 12+/- acres of development land in Temple's West Adams corridor.
    Where is this commercial land located?
    The property is located at 124 Old Waco Rd Temple, TX.
    What are key features of this property?
    This property features: 12+/- acres of prime development land; Strategically positioned near the high‑visibility corner of Old Waco Road and West Adams Avenue; Located in the heart of Temple’s booming West Adams corridor
    (254) 313-0000
    We can help!
    Listing Contact
    Will Phipps
    Will Phipps
    Real Estate License ID: 0744913
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    124 Old Waco Rd Temple, TX 76502
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!