Versatile Corner Office
For Sale
$549,900
2501 Franklin Avenue, Waco, TX 76710
Corner office building with reception area, private offices, multiple restrooms, and a secured, fenced parking setup.
Property Size1,416 SF
Days on Market98
Property Features for 2501 Franklin Avenue
General Information
Standard status
Active
Size
1,416 SF
Property subtype
Business
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$4,427
Building Details
Building Size
1,416 SF
Year Built
1950
Listing Agency:
Arise Capital Real Estate
Listed By:
Reyna Reyes · License #0795198
(682) 558-0005
Source:
Whitelabelrealty
Added: Jul 9
Changed: Oct 11
Last Checked: Oct 13 at 2:04AM
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 Arise Capital Real Estate
Investment Insights
Based on property information with market context.
This versatile corner commercial building is offered for sale with owner financing available. The interior layout includes a reception area that opens into a common workspace, two private offices, two restrooms, and an additional waiting area or flex space that can be adapted for a variety of uses. A reinforced concrete room, formerly used as a bank vault, offers secure storage options for records, inventory, or valuables.
The property is situated on a prominent corner lot along Waco’s Franklin Avenue corridor, positioned for strong visibility with high daily traffic counts. Formerly the David Gonzales Farmers Insurance Agency, the building is described as ready for its next chapter with cosmetic updates.
Outside, the fenced and secured parking area is designed for protected vehicle storage and equipment security, with room for additional storage or workshop space as needed.
The property is situated on a prominent corner lot along Waco’s Franklin Avenue corridor, positioned for strong visibility with high daily traffic counts. Formerly the David Gonzales Farmers Insurance Agency, the building is described as ready for its next chapter with cosmetic updates.
Outside, the fenced and secured parking area is designed for protected vehicle storage and equipment security, with room for additional storage or workshop space as needed.
Key Highlights
- Corner commercial building on Waco’s Franklin Avenue corridor
- 1950‑built property with a reception area, common workspace, 2 private offices, and additional waiting/flex space
- Includes 2 restrooms and a reinforced concrete room previously used as a bank vault
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,686
Cap Rate
3.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,720
$393.7K
Cap Rate 7%
$281,229
$281.2K
Cap Rate 9%
$218,733
$218.7K
Market Conditions
NOI Build-Up for 1,416 SF
Gross rent
$31.4K $22.20/SF
− Vacancy
−$5.2K −$3.66/SF
EGI
$26.2K $18.54/SF
− OpEx
−$6.6K −$4.63/SF
NOI
$19.7K $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%
$393,720
Cap Rate 7%
$281,229
Cap Rate 9%
$218,733
Alternative Uses
Best Use
Office B
$281.2K
$246.1K – $328.1K
NOI $19,686 @ 7.0% cap · market cap 3.58%
Second Best
Healthcare Medical
$216.3K
$189.3K – $252.3K
NOI $15,140 @ 7.0% cap · market cap 2.75%
Theoretical Best
Office A
$373.6K
$326.9K – $435.9K
NOI $26,151 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
931
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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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Corner office building with reception area, private offices, multiple restrooms, and a secured, fenced parking setup.
Where is this office building located?
The property is located at 2501 Franklin Avenue Waco, TX.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Corner commercial building on Waco’s Franklin Avenue corridor; 1950‑built property with a reception area, common workspace, 2 private offices, and additional waiting/flex space; Includes 2 restrooms and a reinforced concrete room previously used as a bank vault
