3400 Hillcrest Drive, Waco, TX 76708

Building Details

Year Built 1986 More

Buildings 1 More

Listing Agency: Kelly, Realtors l***@kellyrealtors.com Show Phone

Listed By: Nathan Embry · License #668380 Show Phone

Source: Lonestarluxuryrealty

Added: Aug 8 Changed: Nov 4 Last Checked: Nov 8 at 5:41AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This standalone medical office building contains 3,852 square feet and was built in 1986. The interior arrangement includes a reception and waiting area, multiple private offices, exam rooms, a breakroom, and a substantial administrative area. On-site parking supports the building’s medical-office configuration.

The property is located at 3400 Hillcrest Drive in Waco, near MacArthur Dr. Its existing room layout provides distinct patient-facing, clinical, staff, and administrative areas within one freestanding facility.

Key Highlights

• 3,852‑square‑foot standalone medical office building
• Built in 1986
• Reception and waiting area for patient‑facing operations

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$53,553

Cap Rate

7.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,071,060 $1.1M

Cap Rate 7%

$765,043 $765.0K

Cap Rate 9%

$595,033 $595.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,852 SF

Gross rent

$85.5K $22.20/SF

− Vacancy

−$14.1K −$3.66/SF

EGI

$71.4K $18.54/SF

− OpEx

−$17.9K −$4.63/SF

NOI

$53.6K $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%

$1,071,060

Cap Rate 7%

$765,043

Cap Rate 9%

$595,033

Alternative Uses

Best Use

Office B

$765.0K

$669.4K – $892.6K (±1% cap)

NOI $53,553 @ 7.0% cap · market cap 7.82%

Second Best

Healthcare Medical

$588.4K

$514.8K – $686.4K (±1% cap)

NOI $41,186 @ 7.0% cap · market cap 6.01%

Theoretical Best

Office A

$1.02M

$889.2K – $1.19M (±1% cap)

NOI $71,139 @ 7.0% cap · market cap 10.39%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Webster S. Lowder, ... Physician Psych Dimensions, Inc. Physician Martha Allee Foster Care Service Surgical Associates Medical Clinic Aaron Jackman Physician

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Building Supply

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

378

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 76708, TX

28,499

Population

11,241

Households

2.5

Avg Household Size

35

Median Age

25%

College-Educated

85%

High-School Grad

48.1 sq mi

ZIP Area

592

Density / Sq Mi

$66,764

Median Household Income

$39,409

Median Earnings

$1,087

Median Rent

$204,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Purpose-built medical layout with patient reception, exam rooms, private offices, and administrative workspace.

Where is this medical office space located?

The property is located at 3400 Hillcrest Drive Waco, TX.

What is the asking price?

The asking price for this property is $685,000.

What are key features of this property?

This property features: 3,852‑square‑foot standalone medical office building; Built in 1986; Reception and waiting area for patient‑facing operations