Mixed-Use Property on Austin
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707 Austin Avenue, Waco, TX 76701
2,329 SF mixed-use property suitable for office, retail, or special purpose.
Property Size2,329 SF
Price / SF$294.12
Days on Market113
Property Features for 707 Austin Avenue
General Information
Standard status
Active
Size
2,329 SF
Class
A
Property subtype
Retail, Office
Zoning
C-4
Investment Type
Owner/User
Building Details
Year Built
1919
Year Renovated
2008
Buildings
1
Units
1
Listing Agency:
Alinea Real Estate
Listed By:
Matt Stufflebeam · License #TX 0550140
Source:
Crexi
Added: May 10
Changed: Aug 28
Last Checked: Aug 29 at 3:02PM
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 Alinea Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property offers 2,329 square feet of space suitable for office, retail, or special purpose use. The property is located on Austin Avenue in Waco, Texas.
Key Highlights
- Mixed Use Property
- Suitable for Office, Retail, or Special Purpose
- 2,329 SF
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
$29,804
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
4.35%
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%
$596,080
$596.1K
Cap Rate 7%
$425,771
$425.8K
Cap Rate 9%
$331,156
$331.2K
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
$54.5K $23.40/SF
− Vacancy
−$6.8K −$2.93/SF
EGI
$47.7K $20.47/SF
− OpEx
−$17.9K −$7.68/SF
NOI
$29.8K $12.80/SF
Area
Waco, TX
Vacancy
12.50%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
37.50%
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%
$596,080
Cap Rate 7%
$425,771
Cap Rate 9%
$331,156
Alternative Uses
Best Use
Mixed Use
$425.8K
$372.6K – $496.7K
NOI $29,804 @ 7.0% cap · market cap 4.35%
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
Explore this area
Business Placement
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 2,329 SF mixed-use property suitable for office, retail, or special purpose.
Where is this mixed-use property located?
The property is located at 707 Austin Avenue 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: Mixed Use Property; Suitable for Office, Retail, or Special Purpose; 2,329 SF
