Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    221 Jewell Dr Waco, TX 76712

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Development pad site in a dense retail and industrial corridor.

    Lot size:
    0.23 Acres

    Property Features for 221 Jewell Dr

    General Information

    Lot size
    0.23 Acres

    We can help!

    Listing Contact
    Will Phipps
    Will Phipps
    Source: Moodyscre

    Listing Agency: Cromwell Commercial Group Listing Agent: Will Phipps

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Development Pad Site For Sale

    This development pad site is located on U.S. Highway 84, centrally positioned within a dense retail and industrial corridor. The site is suitable for development as a medical office, lab, or clinic. It is part of the Colonnade development, which includes neighbors such as Christian Brothers Automotive, Hat Creek Burger Company, Allergy and Asthma Care of Waco, and Kids 'r' Kids. Parking is already in place, and the site is ready for construction.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Allergy and Asthma Care ... Physician Dr. Pramila K. ... Physician Leslie Cernosek Muenzler Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.1983347
    Latitude
    31.5054987

    Nearby Similar for Sale

    • $900,000
      0.58 Acres

      Waco Retail/Medical Opportunity

      Commercial building suitable for medical or retail in prime Waco location.
      1210 Lake Air Dr, Waco, TX 76710
      View Details
    • New
      $420,000
      0.34 Acres

      Former Daycare on Memorial Drive

      Versatile property with multiple lots, ideal for redevelopment.
      4306 Memorial Dr, Waco, TX 76711
      View Details
    • $350,000
      0.38 Acres

      Waco Corner Lot Opportunity

      Highly visible corner lot near Downtown Waco, previously a daycare.
      2000 N 25Th St, Waco, TX 76708
      View Details
    • $525,000
      0.46 Acres

      Bellmead Office Building For Sale

      Versatile office building in high-growth area near IH-35.
      3715 Bellmead Dr, Waco, TX 76705
      View Details
    • $449,000
      0.57 Acres

      Retail Property Near Downtown Waco

      Retail property on a corner lot, minutes from Downtown Waco.
      1818 Morrow Ave, Waco, TX 76707
      View Details
    • $525,000
      0.47 Acres

      Waco Office Building For Sale

      High-visibility commercial building in Waco, near New Road and Bosque.
      1311 N New Rd, Waco, TX 76710
      View Details
    • $235,000
      2,100 SF

      McGregor Airport Airplane Hangar

      2100 sq ft airplane hangar at McGregor Executive Airport.
      27474 Highway 84 W, Waco, TX 76657
      View Details
    • $1,600,000
      0.13 Acres

      Waco Event Center Opportunity

      Historic event center near downtown Waco available for sale.
      520 Elm St, Waco, TX 76704
      View Details
    • $349,999
      0.20 Acres

      Waco Retail Property Opportunity

      Versatile commercial space with development potential in Waco, Texas.
      1501 Herring Ave, Waco, TX 76708
      View Details
    • New
      $339,499
      2,116 SF

      New Brick Duplex in Waco

      Turnkey duplex near Waco attractions, designed for cash flow.
      1126 N 11Th St, Waco, TX 76707
      View Details
    • New
      $199,900
      2,128 SF

      Waco Duplex with Rental Income

      Duplex with reliable tenant and updated unit in Waco.
      7308 Sanger Ave, Waco, TX 76712
      View Details
    • $425,000
      3,296 SF

      Bellmead Multi-Unit Investment Opportunity

      Multi-unit package with strong rental potential and room to grow.
      1011-1013 La Clede St, Waco, TX 76705
      View Details

    FAQs

    What type of property is this?
    Commercial land - Development pad site in a dense retail and industrial corridor.
    Where is this commercial land located?
    The property is located at 221 Jewell Dr Waco, TX.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: - Prime location on U.S. Highway 84.; - Ideal site for medical office, lab, or clinic.; - Located within a dense retail and industrial corridor.
    (254) 313-0000 Call to check price and availability
    Request Owner's contact information
    221 Jewell Dr Waco, TX 76712
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    221 Jewell Dr
    Waco, TX 76712
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    221 Jewell Dr Waco, TX 76712
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Will Phipps
    Will Phipps
    Real Estate License ID: 0744913
    (254) 313-0000 (806) 790-6896
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!