Building Details

Building Size 3,500 SF

Year Built 1944

Listing Agency: Reid Peevey Commercial Real Estate

Listed By: Josh Barrett · License #TX #736690 Show Phone

Source: Reidpeevey

Added: Nov 21, 2025 Changed: Oct 7 Last Checked: Oct 5 at 5:31PM

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Investment Insights

Based on property information with market context.

This property, situated in the growing Silo District downtown, presents a rare opportunity for ownership adjacent to the Magnolia Silos. The property spans 0.68 acres and includes dedicated parking at the side and rear. An existing enclosed structure provides approximately 3,500 square feet of space. The historic railway building offers character and flexibility for renovation or redevelopment. The property is strategically located directly across from the Silos and includes land for on-site parking. It benefits from TIF Zone status and flexible C4 Zoning.

Key Highlights

• Prime location directly across from the Magnolia Silos
• .68 acres of land with dedicated on‑site parking
• Located in a dynamic and growing downtown Silo District

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,785

Cap Rate

5.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$815,700 $815.7K

Cap Rate 7%

$582,643 $582.6K

Cap Rate 9%

$453,167 $453.2K

Market Conditions

NOI Build-Up for 3,500 SF

Gross rent

$65.1K $18.60/SF

− Vacancy

−$6.8K −$1.95/SF

EGI

$58.3K $16.65/SF

− OpEx

−$17.5K −$4.99/SF

NOI

$40.8K $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%

$815,700

Cap Rate 7%

$582,643

Cap Rate 9%

$453,167

Alternative Uses

Best Use

Retail

$582.6K

$509.8K – $679.8K (±1% cap)

NOI $40,785 @ 7.0% cap · market cap 5.87%

Second Best

Industrial

$441.9K

$386.7K – $515.6K (±1% cap)

NOI $30,936 @ 7.0% cap · market cap 4.45%

Theoretical Best

Office A

$923.4K

$808.0K – $1.08M (±1% cap)

NOI $64,638 @ 7.0% cap · market cap 9.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Carpet & Flooring Store Skin Care Clinic Pharmacy

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

1,950

Businesses Nearby

413k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 79% Shops & Services 16% Hotels & Casinos 4%

Chick-fil-A Dining

55,091 visits/mo 0.4 miles

In-N-Out Burger Dining

50,697 visits/mo 0.3 miles

Raising Cane's Chicken Fingers Dining

44,368 visits/mo 0.4 miles

Whataburger Dining

35,517 visits/mo 0.3 miles

Panera Bread Dining

18,048 visits/mo 0.3 miles

Demographics for 76706, TX

39,303

Population

16,600

Households

2.4

Avg Household Size

27

Median Age

23%

College-Educated

85%

High-School Grad

72.3 sq mi

ZIP Area

544

Density / Sq Mi

$42,277

Median Household Income

$23,954

Median Earnings

$1,063

Median Rent

$180,600

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

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Development property next to Magnolia Silos with historic charm.

Where is this storefront property located?

The property is located at 401 S 8th St Waco, TX.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: Prime location directly across from the Magnolia Silos; .68 acres of land with dedicated on‑site parking; Located in a dynamic and growing downtown Silo District