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    500 5Th St Waco, TX 76701

    For Sale
    Contact for pricing

    21,326 SF Office, High NOI

    Property size:
    21,326 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional 21,326-square-foot office building, located at 500 Franklin Ave & 209 S 5th St in Waco, Texas, presents a compelling redevelopment opportunity. Situated in the heart of downtown Waco, this C-4 zoned property boasts a prime location between the Federal and County Courthouses, surrounded by thriving food, beverage, and entertainment establishments. Franklin Avenue and 5th Street, two of the city's busiest thoroughfares, ensure high visibility and accessibility. The building offers the flexibility to function as a leasable office space or undergo a complete revitalization into a mixed-use development. Imagine ground-floor retail space along 5th Street and Franklin Avenue, complemented by residential or office space on the upper two floors. The property includes on-site gated parking, supplemented by ample street parking and a nearby public garage. This strategic location within both a Tax Increment Financing (TIF) zone and an Opportunity Zone presents significant investment advantages for owner-users, leasehold occupancy, or redevelopment projects. The current Net Operating Income (NOI) stands at $421,180. The lot size is 20,182 square feet. Please note that the existing tenant should not be disturbed. This is a truly unique opportunity to acquire a high-value property in a rapidly growing Texas city.

    Property Features for 500 5Th St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    21,326 SF

    HighLights

    • Ample on‑site private parking plus adjacent public garage.
    • Ideal for owner‑occupancy, leasing, or redevelopment.
    • C‑4 zoning allows for mixed‑use development.
    • Situated in both a Tax Increment Financing (TIF) and Opportunity Zone.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Dental Office Law Firm Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.130848
    Latitude
    31.5556736

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    FAQs

    What type of property is this?
    Office Property Space - 21,326 SF Office, High NOI
    Where is this office property space located?
    The property is located at 500 5Th St Waco, TX.
    What are key features of this property?
    This property features: Ample on-site private parking plus adjacent public garage.; Ideal for owner-occupancy, leasing, or redevelopment.; C-4 zoning allows for mixed-use development.
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    500 5Th St Waco, TX 76701
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    Waco, TX 76701
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    Realmo Value Estimation

    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.

    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.

    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
    500 5Th St Waco, TX 76701
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