Waco Retail Strip
806 Elm Avenue Waco, TX 76704
Multi-tenant retail center in a revitalizing Waco district.
Type:SCR
Property size:
7,320 SFLot size:
0.49 AcresPrice / SF:
$170/SF- Added:
- Jun 3, 2025
- Days on Market:
- 403
- Last Refresh:
- Jun 29 at 8:54 pm
Property Features for 806 Elm Avenue
General Information
- Standard status
- Active
- Size
- 7,320 SF
- Lot size
- 0.49 Acres
- Property subtype
- SCR
Listing office Keller Williams Realty, Waco (254) 870-0050
Listing date Jun 3, 2025
Source Realnex
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 Keller Williams Realty, Waco
Investment Insights
Based on property information with market context.
This multi-tenant retail strip center offers an investment opportunity in a revitalizing district of Waco, TX. The property is positioned on 0.49 acres (21,344 SF) along Elm Avenue. The center has a total area of approximately 7,320 square feet. Elm Avenue is emerging as a commercial corridor in the East Side of Waco, which is experiencing growth and revitalization. The retail strip center offers visibility and flexible leasing opportunities. The location offers investors and business owners the opportunity to capitalize on the increasing demand for retail and commercial space.
Key Highlights
- Located in a thriving revitalization district of Waco, TX, offering strong potential for appreciation.
- ± 7,320 SF multi‑tenant retail strip center provides flexible leasing opportunities.
- Positioned on 0.49 acres (21,344 SF) along Elm Avenue with excellent visibility.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $136.2k | $18.60 |
| − Vacancy | −$14.3k | −$1.95 |
| EGI | $121.9k | $16.65 |
| − OpEx | −$36.6k | −$4.99 |
| NOI | $85.3k | $11.65 |
7,320 SF · lease $18.60/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.22M
$1.07M – $1.42M
NOI $85,299 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,186 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Strip malls
Similar For Sale Nearby
FAQs
What type of property is this?
Strip mall - Multi-tenant retail center in a revitalizing Waco district.
Where is this strip mall located?
The property is located at 806 Elm Avenue Waco, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Located in a thriving revitalization district of Waco, TX, offering strong potential for appreciation.; ± 7,320 SF multi‑tenant retail strip center provides flexible leasing opportunities.; Positioned on 0.49 acres (21,344 SF) along Elm Avenue with excellent visibility.
