Warehouse for
For Sale
$850,000
7527 Karl May Drive, Waco, TX 76708
Warehouse property available for sale at 7527 Karl May Drive in Waco, Texas.
Property Size4,200 SF
Price / SF$202.38
Days on Market26
Property Features for 7527 Karl May Drive
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Industrial
Building Details
Year Built
2026
Listing Agency:
eXp Commercial LLC
(214) 704-9862
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Jul 18
Changed: Aug 11
Last Checked: Aug 12 at 5:54AM
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 eXp Commercial LLC
Investment Insights
Based on property information with market context.
This warehouse property is offered for sale and includes 4,200 square feet of commercial space. It is categorized as a warehouse within the provided property details.
The property is located at 7527 Karl May Drive in Waco, Texas, with the address provided for access and further due diligence.
Additional building specifics such as office buildout, loading, utilities, condition, and site features are not included in the information provided.
The property is located at 7527 Karl May Drive in Waco, Texas, with the address provided for access and further due diligence.
Additional building specifics such as office buildout, loading, utilities, condition, and site features are not included in the information provided.
Key Highlights
- Newer warehouse built in 2026
- Warehouse property for sale at 7527 Karl May Drive in Waco, Texas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$41,608
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$832,160
$832.2K
Cap Rate 7%
$594,400
$594.4K
Cap Rate 9%
$462,311
$462.3K
Market Conditions
NOI Build-Up for 4,200 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$52.9K $12.60/SF
− Vacancy
−$4.0K −$0.95/SF
EGI
$49.0K $11.66/SF
− OpEx
−$7.3K −$1.75/SF
NOI
$41.6K $9.91/SF
Area
Waco, TX
Vacancy
7.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$832,160
Cap Rate 7%
$594,400
Cap Rate 9%
$462,311
Alternative Uses
Best Use
Warehouse
$594.4K
$520.1K – $693.5K
NOI $41,608 @ 7.0% cap · market cap 4.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$969.6K – $1.29M
NOI $77,566 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76708, TX
28,499
Population
11,241
Households
2.5
Avg Household Size
35
Median Age
25%
College-Educated
85%
High-School Grad
48.1 sq mi
ZIP Area
592
Density / Sq Mi
$66,764
Median Household Income
$39,409
Median Earnings
$1,087
Median Rent
$204,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse property available for sale at 7527 Karl May Drive in Waco, Texas.
Where is this warehouse located?
The property is located at 7527 Karl May Drive Waco, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Newer warehouse built in 2026; Warehouse property for sale at 7527 Karl May Drive in Waco, Texas
