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    Downtown Retail Building with C-4 Zoning Title is generated by Realmo AI

    611 Washington Avenue, Waco, TX 76701

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    For Sale
    $3,950,000

    SINGLE_FAMILY - Waco, TX

    Type:Retail
    Property size:
    11,595 SF
    Lot size:
    0.34 Acres
    Price / SF:
    $340/SF
    Added:
    Jan 21, 2026
    Days on Market:
    134
    Last Refresh:
    Jun 4 at 3:06 pm

    Property Features for 611 Washington Avenue

    General Information

    Property type
    Residential
    Property subtype
    Retail
    Parking features
    Off Street, On Street
    Standard status
    Active
    APN
    480366030001000
    Lot size
    0.34 Acres

    Taxes and HOA fees

    Tax Description
    SALES ANNEX LOT 1 BLOCK A ACRES .343
    Tax Annual Amount
    43547

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1951
    Floors in Building
    2
    Number of units
    3
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Hunter Harrell
    Hunter Harrell

    Listing agent Hunter Harrell License #0619933

    Listing office Harrell Realty Company Waco, TX

    Listing date Jan 21, 2026

    MLS# 20928503

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 11,595 SF brick commercial building constructed in 1951 in Downtown Waco
    • Zoned C‑4 (Central Commercial District) for flexible commercial use
    • Central heating and central air, plus ceiling fans
    • Metal roof and public utilities (public water and public sewer)
    • Off‑street and on‑street parking available

    Overview

    The Curry Building is a well-maintained commercial property constructed in 1951, offering 11,595 square feet of space suited to retail and free-standing building investors. Set on a 0.343-acre lot, the building is zoned C-4 (Central Commercial District), providing flexibility for a range of business uses. With its established structure and ample space for customization, the property is positioned for operators looking to tailor the interior and brand their offering.

    Located at 611 Washington Avenue in downtown Waco, the building benefits from its setting within a dynamic retail and entertainment district. The surrounding area includes a mix of retail options, and the property is described as being near popular attractions such as Magnolia Market at the Silos and the historic Waco Suspension Bridge. Nearby eateries and boutique shops further support the overall visitor-oriented environment.

    For prospective tenants and buyers, the C-4 designation and substantial floor area make this an appealing candidate for retail concepts seeking visibility and flexibility in a central commercial setting. Investors may also value the building’s downtown positioning and the opportunity to update the space to fit their intended use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Z's at the Curry Bar & Pub Pretty In Pink Flamingo ... Clothing Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.134028
    Latitude
    31.556754

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    FAQs

    What type of property is this?
    Retail space - Well-maintained retail building in downtown Waco with C-4 zoning and investor potential for multiple business concepts.
    Where is this retail space located?
    The property is located at 611 Washington Avenue Waco, TX.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: 11,595 SF brick commercial building constructed in 1951 in Downtown Waco; Zoned C‑4 (Central Commercial District) for flexible commercial use; Central heating and central air, plus ceiling fans
    (254) 772-8572
    We can help!
    Listing Contact
    Hunter Harrell
    Hunter Harrell
    Real Estate License ID: 0619933
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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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