Building Details

Building Size 3,996 SF

Year Built 1957

Stories 1

Units 2

Listing Agency: BOURQUIN REALTY

Listed By: David Bourquin · License #0596715 Show Phone

Source: Bourquinrealty

Added: Oct 19 Changed: Oct 22 Last Checked: Oct 22 at 2:34PM

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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 BOURQUIN REALTY

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Investment Insights

Based on property information with market context.

Built in 1957, this 3,996-square-foot automotive property includes multiple roll-up doors and warehouse area at the rear. The building is currently occupied by a tenant on a month-to-month lease.

The property is located at 3421 Franklin Avenue in Waco, Texas, and carries C-3 zoning.

Key Highlights

• 3,996‑square‑foot automotive property built in 1957
• Multiple roll‑up doors serve the building
• Warehouse area is located at the rear

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,565

Cap Rate

7.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$931,300 $931.3K

Cap Rate 7%

$665,214 $665.2K

Cap Rate 9%

$517,389 $517.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,996 SF

Gross rent

$74.3K $18.60/SF

− Vacancy

−$7.8K −$1.95/SF

EGI

$66.5K $16.65/SF

− OpEx

−$20.0K −$4.99/SF

NOI

$46.6K $11.65/SF

Area

Waco, TX

Vacancy

10.50%

Lease Rate

$18.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$931,300

Cap Rate 7%

$665,214

Cap Rate 9%

$517,389

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

Industrial

$504.6K

$441.5K – $588.7K (±1% cap)

NOI $35,320 @ 7.0% cap · market cap 5.89%

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 authorities. How Realmo checks its estimates

Property Analytics

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Current Use

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

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Acupuncture Catering Service Pet Grooming Service Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

776

Businesses Nearby

11k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 78% Electronics 10% Home Improvements & Furnishings 6% Hotels & Casinos 6%

Dollar General Shops & Services

7,365 visits/mo 0.1 miles

Metro by T-Mobile Electronics

1,111 visits/mo 0.4 miles

Napa Auto Parts Shops & Services

1,065 visits/mo 0.2 miles

Rent A Center Home Improvements & Furnishings

671 visits/mo 0.1 miles

Knights Inn Hotels & Casinos

652 visits/mo 0.3 miles

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

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Auto shop - The 3,996-square-foot property is zoned C-3 and occupied under a month-to-month lease.

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: 3,996‑square‑foot automotive property built in 1957; Multiple roll‑up doors serve the building; Warehouse area is located at the rear