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    701 Austin Ave Waco, TX 76701

    Sponsored
    For Lease
    $28 SF/Yr

    17,226 SF Retail Building, Waco, TX

    Lot size:
    17,226 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 17,226-square-foot retail property at 701 Austin Ave in Waco, Texas, presents a unique redevelopment opportunity. Located in McLennan County, this single-tenant building, constructed in 1929, boasts a prime location in the heart of Waco's entertainment district. The C-4 zoned property features high ceilings, expansive windows, and multiple floors, all culminating in an impressive storefront entrance. Its historical significance is underscored by its designation as a contributing structure within the Downtown Overlay, and its location within the Tax Increment Financing (TIF) and Public Improvement District (PID) zones offers significant development incentives. The building's substantial vacant space allows for extensive customization and adaptation to a wide range of commercial uses. Surrounded by ongoing new developments, this property offers investors a chance to capitalize on Waco's vibrant growth and revitalization. The building's size and location make it ideal for a relatively small-scale redevelopment project with substantial return potential. This is a rare chance to acquire a landmark property on Austin Avenue, one of Waco's most desirable commercial streets. The property's historical character combined with its modern potential makes it a truly unique investment opportunity.

    Property Features for 701 Austin Ave

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    17,226 SF
    Total Rate
    40194

    Building Details

    Year Built
    1929

    Unit(s) available at that property

    Space
    Size
    0 SF
    Rate per SF
    $28

    HighLights

    • High visibility throughout Downtown Waco.
    • Located in Tax Increment Financing (TIF) and Public Improvement District (PID) zones; contributing structure in Downtown Overlay.
    • Excellent redevelopment potential with existing structures.
    • Across the street from Magnolia's new hotel and Tecovas.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.13359148
    Latitude
    31.55527552

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    FAQs

    What type of property is this?
    Land - 17,226 SF Retail Building, Waco, TX
    Where is this land located?
    The property is located at 701 Austin Ave Waco, TX.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: High visibility throughout Downtown Waco.; Located in Tax Increment Financing (TIF) and Public Improvement District (PID) zones; contributing structure in Downtown Overlay.; Excellent redevelopment potential with existing structures.
    Request Owner's contact information
    701 Austin Ave 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
    701 Austin Ave Waco, TX 76701
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