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    Automotive Warehouse with Roll-Up Doors Title is generated by Realmo AI

    3421 Franklin Avenue, Waco, TX 76710

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    New
    For Sale
    $600,000

    Functional automotive building with multiple roll-up doors and additional rear warehouse space, available with a month-to-month tenant.

    Type:Commercial
    Property size:
    3,996 SF
    Price / SF:
    $150/SF
    Added:
    Jun 4, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 5 at 1:44 am

    Property Features for 3421 Franklin Avenue

    General Information

    Standard status
    Active
    Size
    3,996 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1957

    We can help!

    Listing Contact
    Fisher Cannon

    Listing agent Fisher Cannon License #0765372

    Listing office Harrell Realty Company

    Listing date Jun 4, 2026

    Source Signaturere

    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 Harrell Realty Company

    HighLights

    • Automotive building built in 1957
    • Multiple roll‑up doors for vehicle access
    • Additional warehouse space in the rear
    • Currently has a tenant on a month‑to‑month lease

    Overview

    This fully functioning automotive building is configured for practical shop and storage use, featuring multiple roll-up doors and additional warehouse space located in the back. The existing improvements are set up to support day-to-day operations where loading access and secure storage matter.

    The property is located on Franklin Avenue in Waco, TX, with the main automotive frontage and continued warehouse space extending behind the primary building footprint. A current tenant remains in place on a month-to-month lease, and the listing notes that tenant history and property financials can be provided by the listing agent.

    For buyers seeking an automotive-focused facility, the combination of multiple roll-up doors and rear warehouse area supports both service bay activity and additional storage needs. The month-to-month tenancy provides flexibility for an owner-operator or investor considering timing for future occupancy plans, subject to tenant arrangements and details available through the listing agent.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $74.3k $18.60
    − Vacancy −$7.8k −$1.95
    EGI $66.5k $16.65
    − OpEx −$20.0k −$4.99
    NOI $46.6k $11.65
    3,996 SF · lease $18.60/SF/yr · vacancy 10.50% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $665.2K
    $582.1K – $776.1K (±1% cap)
    NOI $46,565 @ 7.0% cap · market cap 7.76%
    Second Best
    Warehouse
    $565.5K
    $494.8K – $659.8K (±1% cap)
    NOI $39,587 @ 7.0% cap · market cap 6.60%
    Theoretical Best
    Office A
    $1.05M
    $922.5K – $1.23M (±1% cap)
    NOI $73,798 @ 7.0% cap · market cap 12.30%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Haigood Automotive Auto Repair Shop Newman Emergency HVAC ... Hardware & Home Improvement

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Similar Places Nearby

    • Acdelco Service Center — 2521 Clay Ave, Waco, TX 76706
    • Navarrete Auto Repair — 1568 Circle Rd, Waco, TX 76706
    • Haigood Automotive — 3421 Franklin Ave #7323, Waco, TX 76710
    • Infinity Tires — 3101 Franklin Ave, Waco, TX 76710
    • Two Amigos Auto Shop — 2521 Clay Ave, Waco, TX 76706

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.1586349
    Latitude
    31.5318491

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    FAQs

    What type of property is this?
    Auto shop - Functional automotive building with multiple roll-up doors and additional rear warehouse space, available with a month-to-month tenant.
    Where is this auto shop located?
    The property is located at 3421 Franklin Avenue Waco, TX.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Automotive building built in 1957; Multiple roll‑up doors for vehicle access; Additional warehouse space in the rear
    (254) 722-5933
    We can help!
    Listing Contact
    Fisher Cannon
    Real Estate License ID: 0765372
    Learn More
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    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
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