Renovated Flex Space with Drive-In
New
For Sale
$850,000
1316 Franklin Ave # 1320, Waco, TX 76701
Renovated in 2023, the property combines conditioned office space with warehouse areas and a small yard.
Property Size8,400 SF
Price / SF$101.19
Days on Market3
Property Features for 1316 Franklin Ave # 1320
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Industrial
Zoning
M-2
Additional Details
Outdoor Storage
Yes
Building Details
Building Size
8,400 SF
Year Built
1966
Year Renovated
2023
Listing Agency:
Reid Peevey Commercial Real Estate
(254) 722-9587
Listed By:
Josh Barrett · License #TX #736690
Source:
Reidpeevey
Added: Aug 1
Changed: Aug 2
Last Checked: Aug 3 at 5:21AM
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 Reid Peevey Commercial Real Estate
Investment Insights
Based on property information with market context.
This 8,400 SF flex property provides a combination of conditioned office space and industrial areas suited to warehouse and storage operations. The layout includes a drive-in entry warehouse/storage area, a separate back warehouse, and a small yard. Originally built in 1966, the property was renovated in 2023.
The building is located at 1316 Franklin Ave # 1320 in Waco, TX 76701, with M-2 zoning supporting its industrial classification. Drive-in access and multiple warehouse areas add practical functionality for users requiring both office accommodation and enclosed storage or work space.
The building is located at 1316 Franklin Ave # 1320 in Waco, TX 76701, with M-2 zoning supporting its industrial classification. Drive-in access and multiple warehouse areas add practical functionality for users requiring both office accommodation and enclosed storage or work space.
Key Highlights
- 8,400 SF flex property
- Renovated in 2023; originally built in 1966
- Conditioned office space
Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $115.9k | $13.80 |
| − Vacancy | −$9.9k | −$1.17 |
| EGI | $106.1k | $12.63 |
| − OpEx | −$31.8k | −$3.79 |
| NOI | $74.2k | $8.84 |
8,400 SF · lease $13.80/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$1.67M
$1.46M – $1.95M
NOI $116,783 @ 7.0% cap · market cap 13.74%
Second Best
Flex RnD
$1.21M
$1.06M – $1.41M
NOI $84,554 @ 7.0% cap · market cap 9.95%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,131 @ 7.0% cap · market cap 18.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,048
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Club Sandwich Food Truck — 601 Webster Ave, Waco, TX 76706
- Broken G BBQ — 511 S 8th St, Waco, TX 76706
Frequently Asked Questions
What type of property is this?
Flex space - Renovated in 2023, the property combines conditioned office space with warehouse areas and a small yard.
Where is this flex space located?
The property is located at 1316 Franklin Ave # 1320 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: 8,400 SF flex property; Renovated in 2023; originally built in 1966; Conditioned office space
