Professional Office with Upstairs Bonus
For Sale
$900,000
3640 W Waco Drive, Waco, TX 76710
Configured for immediate office use with private rooms, meeting space, shared work area, and kitchen facilities.
Property Size4,208 SF
Price / SF$213.88
Days on Market53
Property Features for 3640 W Waco Drive
General Information
Standard status
Active
Size
4,208 SF
Property subtype
Office
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
2001
Listing Agency:
Kelly, Realtors
(254) 741-1500
Listed By:
Nathan Embry · License #668380
(254) 855-5500
Source:
Lonestarluxuryrealty
Added: Aug 15
Changed: Sep 22
Last Checked: Oct 5 at 7:24PM
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 Kelly, Realtors
Investment Insights
Based on property information with market context.
This 4,208-square-foot office building, constructed in 2001, offers a practical layout for professional operations. The interior includes a reception area, 7 offices, 1 conference room, a bullpen, 2 bathrooms, and a kitchen, along with additional upstairs bonus space.
The property is located at 3640 W Waco Drive in Waco, with access to Waco Drive, Valley Mills Dr, and Highway 6. Its established office configuration provides a defined front-of-house area, private workrooms, collaborative space, and meeting facilities within one building.
The property is located at 3640 W Waco Drive in Waco, with access to Waco Drive, Valley Mills Dr, and Highway 6. Its established office configuration provides a defined front-of-house area, private workrooms, collaborative space, and meeting facilities within one building.
Key Highlights
- 4,208 SF office building constructed in 2001
- Reception area, 7 offices, and 1 conference room
- Bullpen, 2 bathrooms, and kitchen included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,503
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,170,060
$1.2M
Cap Rate 7%
$835,757
$835.8K
Cap Rate 9%
$650,033
$650.0K
Market Conditions
NOI Build-Up for 4,208 SF
Gross rent
$93.4K $22.20/SF
− Vacancy
−$15.4K −$3.66/SF
EGI
$78.0K $18.54/SF
− OpEx
−$19.5K −$4.63/SF
NOI
$58.5K $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%
$1,170,060
Cap Rate 7%
$835,757
Cap Rate 9%
$650,033
Alternative Uses
Best Use
Office B
$835.8K
$731.3K – $975.1K
NOI $58,503 @ 7.0% cap · market cap 6.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$971.4K – $1.30M
NOI $77,713 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
964
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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Cap Rate, Value Estimation, Potential NOI and more
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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 - Configured for immediate office use with private rooms, meeting space, shared work area, and kitchen facilities.
Where is this office building located?
The property is located at 3640 W Waco Drive Waco, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4,208 SF office building constructed in 2001; Reception area, 7 offices, and 1 conference room; Bullpen, 2 bathrooms, and kitchen included
