Downtown Office Space with
For Sale
$350,000
2214 Washington Ave, Waco, TX 76701
Well-maintained office suite with private offices, reception, and a break room, plus paved parking in front and rear.
Property Size1,938 SF
Price / SF$180.60
Days on Market51
Property Features for 2214 Washington Ave
General Information
Standard status
Active
Size
1,938 SF
Property subtype
Office - General Office
Building Details
Building Size
1,938 SF
Listing Agency:
Coldwell Banker Commercial Apex, Realtors
Listed By:
Raynor Campbell
(254) 313-0000
Source:
Commercialcafe
Added: Jul 26
Changed: Sep 13
Last Checked: Sep 13 at 5:20AM
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 Coldwell Banker Commercial Apex, Realtors
Investment Insights
Based on property information with market context.
A well-maintained office space totaling 1,938+/- SF is available in Downtown Waco and is well suited for a range of professional uses. The interior layout includes multiple private offices, a reception area, and a break room.
The building offers convenient accessibility with paved parking available at both the front and rear. Its central downtown setting places it close to local businesses and restaurants.
The configuration is designed to support client-facing reception and separate work areas through its combination of private offices and shared reception and break space.
The building offers convenient accessibility with paved parking available at both the front and rear. Its central downtown setting places it close to local businesses and restaurants.
The configuration is designed to support client-facing reception and separate work areas through its combination of private offices and shared reception and break space.
Key Highlights
- 1,938+/- SF of well‑maintained office space in Downtown Waco
- Layout includes multiple private offices, a welcoming reception area, and a break room
- Paved parking available in both the front and rear of the building
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
$26,944
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
7.70%
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%
$538,880
$538.9K
Cap Rate 7%
$384,914
$384.9K
Cap Rate 9%
$299,378
$299.4K
Market Conditions
NOI Build-Up for 1,938 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
$43.0K $22.20/SF
− Vacancy
−$7.1K −$3.66/SF
EGI
$35.9K $18.54/SF
− OpEx
−$9.0K −$4.63/SF
NOI
$26.9K $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 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%
$538,880
Cap Rate 7%
$384,914
Cap Rate 9%
$299,378
Alternative Uses
Best Use
Office B
$384.9K
$336.8K – $449.1K
NOI $26,944 @ 7.0% cap · market cap 7.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$511.3K
$447.4K – $596.5K
NOI $35,791 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 76701, TX
1,674
Population
1,029
Households
1.6
Avg Household Size
29
Median Age
32%
College-Educated
92%
High-School Grad
1.1 sq mi
ZIP Area
1,522
Density / Sq Mi
$24,593
Median Household Income
$21,897
Median Earnings
$1,008
Median Rent
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office suite with private offices, reception, and a break room, plus paved parking in front and rear.
Where is this office units located?
The property is located at 2214 Washington Ave Waco, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,938+/- SF of well‑maintained office space in Downtown Waco; Layout includes multiple private offices, a welcoming reception area, and a break room; Paved parking available in both the front and rear of the building
