Flex Space with Office
For Sale
Contact for pricing
430 Towne Oaks Dr, Waco, TX 76710
Flex space with multiple offices, meeting room, kitchenette, and flexible open area for storage or additional workspace.
Property Size3,200 SF
Price / SF$117.19
Days on Market72
Property Features for 430 Towne Oaks Dr
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Office, Industrial
Zoning
M-2
Additional Details
Highway Access
Yes
Office Units
5
Listing Agency:
Kelly Commercial
(254) 741-1500
Listed By:
Colt Kelly · License #TX 717734
Source:
Crexi
Added: Jun 19
Changed: Aug 23
Last Checked: Aug 29 at 2:24AM
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 Commercial
Investment Insights
Based on property information with market context.
This flex space includes five offices plus multiple additional office or work areas, along with a waiting room, two bathrooms, a meeting room, and a kitchenette. A flexible open area offers the option to create additional offices or use the space for storage, depending on how the tenant needs the layout.
The property is centrally located with access to major thoroughfares, supporting convenient day-to-day operations and easier customer or visitor traffic.
For tenants or buyers seeking a versatile setup, the combination of private office rooms, common areas, and adaptable open space can fit a range of service, administrative, or light operational uses. The included bathrooms and meeting space support client-facing activities, while the open area gives room to adjust the workspace as needs change.
The property is centrally located with access to major thoroughfares, supporting convenient day-to-day operations and easier customer or visitor traffic.
For tenants or buyers seeking a versatile setup, the combination of private office rooms, common areas, and adaptable open space can fit a range of service, administrative, or light operational uses. The included bathrooms and meeting space support client-facing activities, while the open area gives room to adjust the workspace as needs change.
Key Highlights
- 5 offices plus multiple additional office/work areas
- Flexible open area that could be used for additional offices or storage
- Includes a waiting room, meeting room, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,211
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$644,220
$644.2K
Cap Rate 7%
$460,157
$460.2K
Cap Rate 9%
$357,900
$357.9K
Market Conditions
NOI Build-Up for 3,200 SF
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.
Gross rent
$55.7K $17.40/SF
− Vacancy
−$6.1K −$1.91/SF
EGI
$49.6K $15.49/SF
− OpEx
−$17.3K −$5.42/SF
NOI
$32.2K $10.07/SF
Area
Waco, TX
Vacancy
11.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$644,220
Cap Rate 7%
$460,157
Cap Rate 9%
$357,900
Alternative Uses
Best Use
Office B
$635.6K
$556.1K – $741.5K
NOI $44,489 @ 7.0% cap · market cap 11.86%
Second Best
Flex RnD
$460.2K
$402.6K – $536.9K
NOI $32,211 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$844.3K
$738.7K – $985.0K
NOI $59,098 @ 7.0% cap · market cap 15.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,505
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with multiple offices, meeting room, kitchenette, and flexible open area for storage or additional workspace.
Where is this flex space located?
The property is located at 430 Towne Oaks Dr Waco, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 5 offices plus multiple additional office/work areas; Flexible open area that could be used for additional offices or storage; Includes a waiting room, meeting room, and kitchenette
