Multi-Tenant Office
For Sale
$1,375,000
1600 Lake Air Drive, Waco, TX 76710
CommercialSale, Waco, TX
Property Size8,576 SF
Lot Size0.78 Acres
Price / SF$160.33
Days on Market50
Property Features for 1600 Lake Air Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
O-1
Security features
Security
Subdivision
Lake Air Center
Lot features
Corner Lot
Directions
Lake air across from Extraco Event Center
Standard status
Active
APN
480266080010010
Lot size
0.78 Acres
Additional Details
Property Use
Office
Taxes and HOA fees
Tax Description
LAKE AIR CENTER BLOCK C LOT A ACRES .775
Tax Annual Amount
24343
Legal Description
LAKE AIR CENTER BLOCK C LOT A ACRES .775
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
private offices in multiple sizes
secure coded entry
Wi-Fi
utilities
shared conference room
kitchenette
common areas
Building Details
Year built
1976
Floors in Building
1
Number of units
1
Flooring type
Laminate, Tile
Building materials
Concrete
Roof type
Slate, Asphalt
Buildings
1
Listing Agency:
Duck Brothers Real Estate
(254) 733-3008
Listed By:
Alan Cooper
(469) 373-3118
Added: Sep 11
Changed: Oct 29
Last Checked: Oct 30 at 12:06PM
MLS# 21384542
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.
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Investment Insights
Based on property information with market context.
Located at 1600 Lake Air Drive in Waco, this approximately 8,576-square-foot office building is arranged for multiple executive and professional suites. The 0.775-acre property includes private offices in several sizes, a shared conference room, kitchenette, common areas, secure coded entry, Wi-Fi, utilities, and on-site parking. Concrete construction, laminate and tile flooring, central heating, central air, and public water and sewer support the existing office configuration.
Built in 1976, the property is suited to an owner-user or continued multi-tenant operation. Its office layout accommodates professional users, while the existing suite arrangement allows occupancy across separate private offices within the building.
Built in 1976, the property is suited to an owner-user or continued multi-tenant operation. Its office layout accommodates professional users, while the existing suite arrangement allows occupancy across separate private offices within the building.
Key Highlights
- Approximately 8,576‑square‑foot multi‑tenant office building
- 0.775‑acre property at 1600 Lake Air Drive, Waco, TX 76710
- Private offices in multiple sizes for executive and professional users
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,230
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,384,600
$2.4M
Cap Rate 7%
$1,703,286
$1.7M
Cap Rate 9%
$1,324,778
$1.3M
Market Conditions
NOI Build-Up for 8,576 SF
Gross rent
$190.4K $22.20/SF
− Vacancy
−$31.4K −$3.66/SF
EGI
$159.0K $18.54/SF
− OpEx
−$39.7K −$4.63/SF
NOI
$119.2K $13.90/SF
Area
Waco, TX
Vacancy
16.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,384,600
Cap Rate 7%
$1,703,286
Cap Rate 9%
$1,324,778
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.99M
NOI $119,230 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,382 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,211
Businesses Nearby
Explore this area
Business Placement
Demographics for 76710, TX
24,874
Population
12,391
Households
2
Avg Household Size
38
Median Age
32%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,675
Density / Sq Mi
$53,304
Median Household Income
$36,425
Median Earnings
$1,098
Median Rent
$229,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Flexible executive and professional suites with shared amenities, coded entry, utilities, and on-site parking.
Where is this office building located?
The property is located at 1600 Lake Air Drive Waco, TX.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Approximately 8,576‑square‑foot multi‑tenant office building; 0.775‑acre property at 1600 Lake Air Drive, Waco, TX 76710; Private offices in multiple sizes for executive and professional users
