Listing Agency: Coldwell Banker Commercial Apex, Realtors c***@gmail.com Show Phone

Listed By: Caleb Loudamy · License #713215

Source: Crexi

Added: Mar 21 Changed: Aug 11 Last Checked: Aug 26 at 12:58AM

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Investment Insights

Based on property information with market context.

Available for purchase, this warehouse offers an excellent opportunity for industrial, storage, or service-based users seeking convenient access to the greater Waco market. Located at 193 Katy Rd in Elm Mott, the property is positioned just off I-35, providing quick connectivity to Waco, Bellmead, and major Central Texas trade routes. The building features functional warehouse spaces suitable for a variety of operations, with ample room for equipment, storage, or light industrial use. The warehouse has 12-foot overhead doors on the front and back, and a 16-foot clear height with a 20-foot peak height. The 3,500+/- SF property includes three offices and bathrooms, and a graded yard. The property is located in the ETJ (no zoning). Ideally positioned for an owner-user or investor, the property can be split into 3 different suites to lease or occupy any variation.

Key Highlights

• Convenient access to Waco, Bellmead, and major Central Texas trade routes via I‑35.
• 3,500+\/- SF warehouse** suitable for industrial, storage, or service‑based businesses.
• Potential to be split into 3 suites for leasing or owner‑user flexibility.

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

$21,632

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

4.81%

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%

$432,640 $432.6K

Cap Rate 7%

$309,029 $309.0K

Cap Rate 9%

$240,356 $240.4K

Market Conditions

NOI Build-Up for 3,500 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

$27.2K $7.76/SF

− Vacancy

−$1.7K −$0.49/SF

EGI

$25.4K $7.27/SF

− OpEx

−$3.8K −$1.09/SF

NOI

$21.6K $6.18/SF

Area

McLennan County, TX

Vacancy

6.30%

Lease Rate

$7.76 /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%

$432,640

Cap Rate 7%

$309,029

Cap Rate 9%

$240,356

Alternative Uses

Best Use

Warehouse

$309.0K

$270.4K – $360.5K (±1% cap)

NOI $21,632 @ 7.0% cap · market cap 4.81%

Second Best

Industrial

$254.5K

$222.7K – $296.9K (±1% cap)

NOI $17,814 @ 7.0% cap · market cap 3.96%

Theoretical Best

Multifamily LT 5

$43.60M

$38.15M – $50.87M (±1% cap)

NOI $3,052,101 @ 7.0% cap · market cap 678.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Warehouses

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Real Estate Agency (Bike/Boat/Book/etc) Store Dental Office Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

143

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 76640, TX

3,063

Population

1,114

Households

2.7

Avg Household Size

43

Median Age

17%

College-Educated

95%

High-School Grad

28.2 sq mi

ZIP Area

109

Density / Sq Mi

$61,458

Median Household Income

$44,743

Median Earnings

$965

Median Rent

$178,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Similar Off Market Nearby

• Elm Mott Self Storage — 593 S McLennan Dr, Elm Mott, TX 76640
• Elm Mott Self Storage — 2082 Mesquite Tree Rd, Elm Mott, TX 76640

Frequently Asked Questions

What type of property is this?

Warehouse - 3,500+/- SF warehouse near I-35 in Elm Mott, TX.

Where is this warehouse located?

The property is located at 193 S Katy Rd Elm Mott, TX.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: Convenient access to Waco, Bellmead, and major Central Texas trade routes via I‑35.; 3,500+\/- SF warehouse** suitable for industrial, storage, or service‑based businesses.; Potential to be split into 3 suites for leasing or owner‑user flexibility.