Move-In-Ready Office
1927 Columbus Avenue Waco, TX 76701
1927 Columbus Avenue, Waco, TX, 76701
$995,000
For Sale
$995,000
Renovated office building with enclosed concrete offices, reception area, conference room, private offices, and secured rear parking.
Property Size3,705 SF
Price / SF$268.56
Days on Market92
Property Features for 1927 Columbus Avenue
General Information
- Standard status
- Active
- Size
- 3,705 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing agency
AG Real Estate & Associates
(940) 691-7355
Listed by
Ashton Gustafson · License #540858
Source
Signaturere
Added: Apr 22 Updated: Jul 21 at 5:35PM Checked: Jul 21 at 5:35PM
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 AG Real Estate & Associates
Investment Insights
Based on property information with market context.
This move-in-ready office building offers a durable concrete shell originally constructed with foundation, exterior walls, roof, and two enclosed concrete offices. The interior was fully renovated in 2020 and features a front lobby with an administrative reception area, a spacious conference room, multiple private offices and open workspaces, plus a kitchenette and updated bathrooms. Additional improvements include fresh paint, fresh carpet, recessed lighting, and an administrative-ready, modern finish throughout. The property is wired for high-speed internet and includes a comprehensive security camera system.
Outside, there is secured rear parking with a gated entrance, a covered parking canopy, and a handicap-accessible entry.
Located for convenient access within central Waco, the property is described as being just minutes from Downtown Waco and nearby major thoroughfares including Waco Drive, Franklin Avenue, and Valley Mills Drive.
Outside, there is secured rear parking with a gated entrance, a covered parking canopy, and a handicap-accessible entry.
Located for convenient access within central Waco, the property is described as being just minutes from Downtown Waco and nearby major thoroughfares including Waco Drive, Franklin Avenue, and Valley Mills Drive.
Key Highlights
- Office building built in 1960 with a durable concrete shell: foundation, exterior walls, roof, plus two enclosed concrete offices
- Fully renovated in 2020 with updated interior finishes including fresh carpet, recessed lighting, and fresh paint
- Interior layout includes front lobby with administrative reception, spacious conference room, multiple private offices, and open workspaces
Local Financial Insights For Office B
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 | $82.3k | $22.20 |
| − Vacancy | −$13.6k | −$3.66 |
| EGI | $68.7k | $18.54 |
| − OpEx | −$17.2k | −$4.63 |
| NOI | $51.5k | $13.90 |
3,705 SF · lease $22.20/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$735.9K
$643.9K – $858.5K
NOI $51,510 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$977.5K
$855.3K – $1.14M
NOI $68,424 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Merck Asset Management
Consultant
Merck General Contracting
General Contractor
Dr. Lester J. ...
Pediatrician
Spear Scott J ...
Physician
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FAQs
What type of property is this?
Office building - Renovated office building with enclosed concrete offices, reception area, conference room, private offices, and secured rear parking.
Where is this office building located?
The property is located at 1927 Columbus Avenue Waco, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Office building built in 1960 with a durable concrete shell: foundation, exterior walls, roof, plus two enclosed concrete offices; Fully renovated in 2020 with updated interior finishes including fresh carpet, recessed lighting, and fresh paint; Interior layout includes front lobby with administrative reception, spacious conference room, multiple private offices, and open workspaces
