Listing Agency: Cromwell Commercial Group

Listed By: Brad Davis · License #TX Show Phone

Source: Crexi

Added: Jun 4, 2024 Changed: Oct 25 Last Checked: Oct 30 at 11:50AM

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Investment Insights

Based on property information with market context.

Located in the heart of the Downtown Waco Silos District, this property features 13,450 square feet of retail and entertainment space along with an adjacent vacant lot. The building includes 7,440 square feet of showroom space and over 5,900 square feet of warehouse and storage area, accessible via one grade-level door. There are 21 parking spaces available. The adjacent vacant lot spans 0.35 acres and can be utilized for additional parking or future development, subject to zoning regulations. The property is zoned C-4. The layout and location are suitable for various uses and concepts. The location is surrounded by current and planned entertainment and tourism-centric developments, including Magnolia Silos, Terry Black’s Barbeque, Pignetti’s, Pivovar, Hotel Herringbone, Red Herring, and the Backyard Bar & Grill.

Key Highlights

• Prime location in the heart of the Downtown Waco Silos District.
• 13,450 SF retail/entertainment space with a versatile layout.
• Includes a 0.35‑acre vacant lot for additional parking or future development.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$156,732

Cap Rate

7.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,134,640 $3.1M

Cap Rate 7%

$2,239,029 $2.2M

Cap Rate 9%

$1,741,467 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,450 SF

Gross rent

$250.2K $18.60/SF

− Vacancy

−$26.3K −$1.95/SF

EGI

$223.9K $16.65/SF

− OpEx

−$67.2K −$4.99/SF

NOI

$156.7K $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 Rate 5%

$3,134,640

Cap Rate 7%

$2,239,029

Cap Rate 9%

$1,741,467

Alternative Uses

Best Use

Retail

$2.24M

$1.96M – $2.61M (±1% cap)

NOI $156,732 @ 7.0% cap · market cap 7.29%

Second Best

Warehouse

$1.90M

$1.67M – $2.22M (±1% cap)

NOI $133,246 @ 7.0% cap · market cap 6.20%

Theoretical Best

Office A

$3.55M

$3.10M – $4.14M (±1% cap)

NOI $248,395 @ 7.0% cap · market cap 11.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

The Findery Interior Design

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store Carpet & Flooring Store Catering Service Nursing Home Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,959

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 76706, TX

39,303

Population

16,600

Households

2.4

Avg Household Size

27

Median Age

23%

College-Educated

85%

High-School Grad

72.3 sq mi

ZIP Area

544

Density / Sq Mi

$42,277

Median Household Income

$23,954

Median Earnings

$1,063

Median Rent

$180,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Showroom - Retail/entertainment space with warehouse and adjacent vacant lot.

Where is this showroom located?

The property is located at 910 Webster Ave Waco, TX.

What is the asking price?

The asking price for this property is $2,150,000.

What are key features of this property?

This property features: Prime location in the heart of the Downtown Waco Silos District.; 13,450 SF retail/entertainment space with a versatile layout.; Includes a 0.35‑acre vacant lot for additional parking or future development.