Multi-Tenant Office
For Sale
$1,375,000
1600 Lake Air Drive, Waco, TX 76710
Flexible professional suites include shared amenities, coded entry, and on-site parking.
Property Size8,576 SF
Price / SF$160.33
Days on Market47
Property Features for 1600 Lake Air Drive
General Information
Standard status
Active
Size
8,576 SF
Property subtype
Office
Amenities
secure coded entry
Wi-Fi
utilities
shared conference room
kitchenette
common areas
Building Details
Year Built
1976
Tenancy
Multi
Listing Agency:
Duck Brothers Real Estate
(254) 733-3008
Listed By:
Alan Cooper · License #0594774
Source:
Lonestarluxuryrealty
Added: Sep 13
Changed: Oct 29
Last Checked: Oct 28 at 7:09AM
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 Duck Brothers Real Estate
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Investment Insights
Based on property information with market context.
Built in 1976, this approximately 8,576-square-foot office building at 1600 Lake Air Drive is arranged for multiple executive and professional suites. The layout includes private offices in several sizes, common areas, a shared conference room, and a kitchenette, supporting a range of office users. Secure coded entry, Wi-Fi, utilities, and on-site parking are also provided.
The property is positioned within Waco’s established professional corridor. Its multi-suite configuration supports continued office occupancy, while the flexible arrangement can accommodate an owner-user occupying part of the building alongside other tenants. The setting is suitable for professional, financial-service, consulting, counseling, real estate, medical, and wellness practices as described in the property information.
The property is positioned within Waco’s established professional corridor. Its multi-suite configuration supports continued office occupancy, while the flexible arrangement can accommodate an owner-user occupying part of the building alongside other tenants. The setting is suitable for professional, financial-service, consulting, counseling, real estate, medical, and wellness practices as described in the property information.
Key Highlights
- Approximately 8,576‑square‑foot multi‑tenant office property
- Built in 1976
- Private offices in multiple sizes with shared conference room and kitchenette
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?
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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 professional suites include shared amenities, coded entry, 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 property; Built in 1976; Private offices in multiple sizes with shared conference room and kitchenette
