Downtown Waco Retail/Entertainment
For Sale
Contact for pricing
910 Webster Ave, Waco, TX 76706
Retail/entertainment space with warehouse and adjacent vacant lot.
Property Size13,450 SF
Lot Size0.35 Acres
Price / SF$159.85
Days on Market830
Property Features for 910 Webster Ave
General Information
Standard status
Active
Size
13,450 SF
Lot size
0.35 Acres
Property subtype
Retail
Listing Agency:
Cromwell Commercial Group
Listed By:
Brad Davis · License #TX
(254) 313-0000
Source:
Crexi
Added: Jun 4, 2024
Changed: Aug 31
Last Checked: Sep 10 at 6:27AM
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 Cromwell Commercial Group
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 = 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
$156,732
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
7.29%
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%
$3,134,640
$3.1M
Cap Rate 7%
$2,239,029
$2.2M
Cap Rate 9%
$1,741,467
$1.7M
Market Conditions
NOI Build-Up for 13,450 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
$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 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%
$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
NOI $156,732 @ 7.0% cap · market cap 7.29%
Second Best
Warehouse
$1.90M
$1.67M – $2.22M
NOI $133,246 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$3.55M
$3.10M – $4.14M
NOI $248,395 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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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.
