New search
Property profile & analytics
FOR SALE
Commercial real estate
1501 Herring Ave Waco, TX 76708
Individually Owned
12-yr Hold
~
Est. High Equity
Property ID
US83-3852774
For Sale
1 / 10
$349,999
1501 Herring Ave, Waco, TX 76708
View Listing →
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1922
Total area
5,000 SF
Lot
0.2 ac (8,843 SF)
Zoning code
C2
APN
480276000010007
UPID
US83-3852774
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Patrick K Williams · 12 yrs held
Patrick K Williams
since 2014
7 recorded transactions
Zoning & alternative use
C2 · Waco, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waco submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waco submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$915
Tax year 2022
Assessed value
$40,800
Assessed 2023
Previous assessed
$40,800
+0.0% YoY
Effective rate
2.24%
On assessed value
Assessed land
$15,250
Assessed improvement
$25,550
Land market value
$15,250
Improvement market value
$25,550
Total market value
$40,800
Applied tax rate
48.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
For Sale
Year built
1922
Heating
YES
Stories
1
Total area
5,000 SF
Lot
0.2 ac (8,843 SF)
Zoning code
C2
APN
480276000010007
UPID
US83-3852774
Jurisdiction
MCLENNAN
Zoning & alternative use
C2 · Waco, TX
Zoning C2 · permitted uses
C2 · Waco, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waco. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1922
Heating
YES
Stories
1
Lot
0.2 ac
Current owner
From public records · entity-resolved
Patrick K Williams
Individual
Mailing address
PO BOX 4191, WACO, TX 76708-0415
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2019
—
Patrick K Williams
—
Deed
related
$35,000 · Central Nat'l Bk
Feb 27, 2014
—
Patrick K Williams
Bob Carr
Venders Lien
$35,000 · Central National Bank
Feb 10, 2010
—
John H Griffis JR.
—
Trustees Deed
related
$78,000 · Alliance Bank Central Texas
Jan 29, 2010
—
Parrotheads Companies Ltd
Carr,bob
Warranty Deed
related
—
Apr 24, 2009
—
Bob Carr
Griffis,john JR
Warranty Deed
related
—
Jan 9, 2009
—
John H Griffis JR.
Turnipseede,thomas A & Dorothy D
Warranty Deed
$78,000 · Alliance Bank Central Texas
—
—
Patrick K Williams
—
Loan Modification
related
$35,000 · Central Nat'l Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
