Corner Office Building with
For Sale
$1,450,000
6625 Sanger Avenue, Waco, TX 76710
Professional office property with private offices, conference space, storage, and O-2 zoning in an established business corridor.
Property Size7,377 SF
Price / SF$196.56
Days on Market291
Property Features for 6625 Sanger Avenue
General Information
Standard status
Active
Size
7,377 SF
Property subtype
OFC
Zoning
O-2
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
conference room
break area
on-site storage
backup generator
Building Details
Building Size
7,377 SF
Buildings
1
Listing Agency:
Onward Real Estate Team - Keller Williams
(254) 870-0050
Listed By:
Brad Harrell, CCIM · License #363789
(254) 870-0050
Source:
Realnex
Added: Nov 12, 2025
Changed: Aug 29
Last Checked: Aug 29 at 8:38PM
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 Onward Real Estate Team - Keller Williams
Investment Insights
Based on property information with market context.
This 7,377-square-foot office building offers a practical professional setting with multiple private offices, a dedicated conference room, and a staff break area. On-site storage and a backup generator add functional support for day-to-day operations. The property is suited to professional, administrative, or medical office use, subject to applicable requirements.
Positioned at the corner of Sanger Avenue, the building provides access to Highway 6 and Loop 340. The site is zoned O-2, identified as an Office Residence District, and is near retail and service amenities, major employers, and healthcare facilities in Waco.
Positioned at the corner of Sanger Avenue, the building provides access to Highway 6 and Loop 340. The site is zoned O-2, identified as an Office Residence District, and is near retail and service amenities, major employers, and healthcare facilities in Waco.
Key Highlights
- 7,377 SF professional office building
- Corner position along Sanger Avenue
- Multiple private offices and dedicated conference room
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
$102,561
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
7.07%
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%
$2,051,220
$2.1M
Cap Rate 7%
$1,465,157
$1.5M
Cap Rate 9%
$1,139,567
$1.1M
Market Conditions
NOI Build-Up for 7,377 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
$163.8K $22.20/SF
− Vacancy
−$27.0K −$3.66/SF
EGI
$136.7K $18.54/SF
− OpEx
−$34.2K −$4.63/SF
NOI
$102.6K $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 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%
$2,051,220
Cap Rate 7%
$1,465,157
Cap Rate 9%
$1,139,567
Alternative Uses
Best Use
Office B
$1.47M
$1.28M – $1.71M
NOI $102,561 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,238 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,353
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional office property with private offices, conference space, storage, and O-2 zoning in an established business corridor.
Where is this office building located?
The property is located at 6625 Sanger Avenue Waco, TX.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 7,377 SF professional office building; Corner position along Sanger Avenue; Multiple private offices and dedicated conference room
