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    1401 Lake Shore Dr Waco, TX 76708

    For Sale
    Contact for pricing

    Prime Waco land, mixed-use potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional 30-acre development site in Waco, Texas, presents a unique opportunity for investors and developers. Located at 1401 Lake Shore Dr., this flat, cleared, and cultivated property boasts approximately 1,560 feet of frontage on Lake Shore Drive and a depth of roughly 840 feet. The O-2 zoning permits a diverse range of projects, including multifamily and single-family residences, apartment hotels, recreational facilities, and neighborhood retail centers. Situated within Waco's Tax Increment Finance Zone #3, the site offers potential incentives for public improvements and utilities. Its strategic location provides easy access to numerous amenities, such as Camp Fimfo Resort, Hawaiian Falls Water Park, Riverbend Ballpark Complex, McLennan Community College, and the Waco Regional Tennis & Fitness Center. Public transportation is readily available via the City of Waco Transit system. Furthermore, the property's location within the Waco Independent School District adds to its appeal. The site is part of the larger Riverway development project, a transformative initiative encompassing approximately 521 acres, projected to include around 1900 homes, 22 acres of commercial space, a 170-slip marina, 160 acres of walking trails, a man-made beach, shops, and restaurants. This property represents a significant investment opportunity in a rapidly growing area of Waco, offering substantial potential for long-term growth and return. The APN is 193747.

    Property Features for 1401 Lake Shore Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    1,306,800 SF

    HighLights

    • 30‑acre development site in Waco, Texas, at 1401 Lake Shore Dr.
    • 1,560 feet of Lake Shore Drive frontage, 840 feet deep, flat and cleared.
    • O‑2 zoning allows multifamily, single‑family, hotels, recreation, and retail.
    • Located in Waco's Tax Increment Finance Zone #3, offering potential incentives.
    • Excellent access to amenities including Camp Fimfo, Hawaiian Falls, and McLennan Community College.
    • Within Waco Independent School District.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.177832230033
    Latitude
    31.593626705623

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    FAQs

    What type of property is this?
    Multifamily property - Prime Waco land, mixed-use potential.
    Where is this multifamily property located?
    The property is located at 1401 Lake Shore Dr Waco, TX.
    What are key features of this property?
    This property features: 30-acre development site in Waco, Texas, at 1401 Lake Shore Dr.; 1,560 feet of Lake Shore Drive frontage, 840 feet deep, flat and cleared.; O-2 zoning allows multifamily, single-family, hotels, recreation, and retail.
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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
    1401 Lake Shore Dr Waco, TX 76708
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