Storefront with High
For Sale
$685,000
707 Austin Ave Unit A1, Waco, TX 76701
Waco commercial space includes a rear-access backroom and a layout adaptable to a range of business operations.
Property Size2,329 SF
Price / SF$294.12
Days on Market182
Property Features for 707 Austin Ave Unit A1
General Information
Standard status
Active
Size
2,329 SF
Property subtype
Commercial
Amenities
high ceilings
dedicated backroom with rear entrance
Building Details
Year Built
1919
Listing Agency:
CIF Real Estate Services, Inc.
(254) 752-5885
Listed By:
Matthew Stufflebeam · License #0550140
Source:
Granburyhomefinder
Added: Mar 1
Changed: Aug 29
Last Checked: Aug 25 at 6:36AM
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 CIF Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This storefront property at 707 Austin Ave Unit A1 provides 2,329 square feet of commercial space in a building constructed in 1919. The interior includes high ceilings and a dedicated backroom, adding functional separation between customer-facing and support areas.
A rear entrance serves the backroom, while the property’s Austin Avenue address places it in downtown Waco. The space is offered for sale and can accommodate a business seeking a storefront configuration with additional rear-area utility.
A rear entrance serves the backroom, while the property’s Austin Avenue address places it in downtown Waco. The space is offered for sale and can accommodate a business seeking a storefront configuration with additional rear-area utility.
Key Highlights
- 2,329 SF of commercial space
- High ceilings contribute to the interior configuration
- Dedicated backroom provides separate support space
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
$27,140
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
3.96%
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%
$542,800
$542.8K
Cap Rate 7%
$387,714
$387.7K
Cap Rate 9%
$301,556
$301.6K
Market Conditions
NOI Build-Up for 2,329 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
$43.3K $18.60/SF
− Vacancy
−$4.5K −$1.95/SF
EGI
$38.8K $16.65/SF
− OpEx
−$11.6K −$4.99/SF
NOI
$27.1K $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 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%
$542,800
Cap Rate 7%
$387,714
Cap Rate 9%
$301,556
Alternative Uses
Best Use
Retail
$387.7K
$339.3K – $452.3K
NOI $27,140 @ 7.0% cap · market cap 3.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$614.5K
$537.7K – $716.9K
NOI $43,012 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,042
Businesses Nearby
66k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 24%
Hotels & Casinos 15%
Home Improvements & Furnishings 3%
CAVA
Dining
16,291 visits/mo
0.5 miles
SONIC Drive In
Dining
14,663 visits/mo
0.5 miles
Wells Fargo
Shops & Services
9,047 visits/mo
0.3 miles
Hotel Indigo Waco - Baylor
Hotels & Casinos
6,248 visits/mo
0.4 miles
Jersey Mike's Subs
Dining
5,197 visits/mo
0.5 miles
Demographics for 76701, TX
1,674
Population
1,029
Households
1.6
Avg Household Size
29
Median Age
32%
College-Educated
92%
High-School Grad
1.1 sq mi
ZIP Area
1,522
Density / Sq Mi
$24,593
Median Household Income
$21,897
Median Earnings
$1,008
Median Rent
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Waco commercial space includes a rear-access backroom and a layout adaptable to a range of business operations.
Where is this storefront property located?
The property is located at 707 Austin Ave Unit A1 Waco, TX.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 2,329 SF of commercial space; High ceilings contribute to the interior configuration; Dedicated backroom provides separate support space
