Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1509 Austin Ave Waco, TX 76701

    Sponsored
    For Lease
    $12 SF/Yr ($12,145 /Mo)

    Uptown Waco Retail/Office Opportunity

    Lot size:
    12,145 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional 12,145-square-foot free-standing commercial building in Waco, Texas, presents a unique investment opportunity. Located at 1509 Austin Ave, zip code 76701, this single-tenant property boasts a C-3 zoning designation, ideal for retail, office, or restaurant uses. The building features a fully equipped commercial kitchen, a legacy from its previous tenant, making it perfect for food-related businesses. Ample parking is available with 30 spaces on-site. The property's rich history, dating back to 1954, adds to its character and appeal. Its prime Uptown Waco location offers high visibility and accessibility. This is a rare chance to acquire a substantial mixed-use property in a thriving Texas market. The building's size and versatile zoning make it suitable for a variety of commercial ventures. The existing commercial kitchen is a significant asset, reducing start-up costs for food-service businesses. Don't miss this chance to own a piece of Waco history and capitalize on a prime commercial location.

    Property Features for 1509 Austin Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    12,145 SF
    Total Rate
    12145

    Unit(s) available at that property

    Space
    Size
    12,145 SF
    Rate per SF
    $12

    We can help!

    Listing Contact
    Gregg Glime, SIOR, CCIM
    Gregg Glime, SIOR, CCIM

    Learn more

    HighLights

    • Highly desirable Waco location.
    • Austin Avenue frontage.
    • Restaurant and retail space available.
    • Ample private parking.
    • Public street parking also available.
    • Fully equipped commercial kitchen.
    Property Profile Location Intelligence

    Current Use by Public Records

    Scout Life + Style ... Gift Shop Etta Rose Boutique Vintage Clothing Store Frenchies nail studio Nail Salon michael castro Discount ... Discount Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    Mclennan
    State
    Texas
    Longitude
    -97.141353049894
    Latitude
    31.548398142558

    Nearby Similar for Lease

    • $3,000 /Mo
      20,604 SF

      Waco Retail Space For Lease

      High-visibility retail space in Waco, near Bosque Boulevard.
      1311 N New Rd, Waco, TX 76710
      View Details
    • $7,252 /Mo
      4,800 SF

      Retail Space in High-Traffic Area

      4,800 SF retail space in a thriving commercial hub.
      1300 Lake Air Dr, Waco, TX 76710
      View Details
    • New
      $3,774 /Mo
      6,970 SF

      High-Visibility Office Space in Waco

      Move-in ready office space in a high-traffic commercial corridor.
      720 Lake Air Dr, Waco, TX 76710
      View Details
    • $3,500 /Mo
      27,225 SF

      Lacy Lakeview Industrial-Retail Building

      Affordable, flexible industrial-retail building in high-visibility location near I-35.
      661 New Dallas Hwy, Waco, TX 76705
      View Details
    • $16 SF/Yr
      1,771 SF

      Lake Air Drive Retail Space

      Waco, TX: Prime Retail/Office Opportunity
      1201 Lake Air Dr, Waco, TX 76710
      View Details
    • Contact for pricing
      9,000 SF

      Retail Space Near Amazon Center

      Retail space adjacent to Central Texas Marketplace and Amazon distribution.
      2316 Loop 340 W, Waco, TX 76711
      View Details
    • $1,500 /Mo
      1,250 SF

      Waco Drive Retail/Office Space

      Retail or office space with high visibility on Waco Drive.
      2403 W Waco Dr, Waco, TX 76707
      View Details
    • Contact for pricing
      3,000 SF

      High-Traffic Retail Space Available

      Retail space in established hub with high visibility.
      5401 Bosque Blvd, Waco, TX 76710
      View Details
    • Contact for pricing
      685,730 SF

      Richland Mall Retail Space

      Prime Waco shopping center space available.
      6001 Waco Dr, Waco, TX 76710
      View Details
    • $12 SF/Yr
      15,390 SF

      Lake Air Dr Retail Center

      Prime Retail Space, Multiple Suites Available
      929 Lake Air Dr, Waco, TX 76710
      View Details
    • Contact for pricing
      5,430 SF

      Bosque Blvd Retail Opportunity

      Prime Restaurant Space - 5,430 SF Available
      5501 Bosque Blvd, Waco, TX 76710
      View Details
    • $4 SF/Yr
      228,000 SF

      Waco Industrial Space - Multi-Use

      Versatile Waco industrial space, multiple tenants.
      3022 Franklin Ave, Waco, TX 76710
      View Details

    FAQs

    What type of property is this?
    Restaurant - Uptown Waco Retail/Office Opportunity
    Where is this restaurant located?
    The property is located at 1509 Austin Ave Waco, TX.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Highly desirable Waco location.; Austin Avenue frontage.; Restaurant and retail space available.
    Request Owner's contact information
    1509 Austin Ave Waco, TX 76701
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1509 Austin Ave
    Waco, TX 76701
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1509 Austin Ave Waco, TX 76701
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gregg Glime, SIOR, CCIM
    Gregg Glime, SIOR, CCIM
    Real Estate License ID: 620081
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.