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    Property profile & analytics

    195 Heritage Pkwy Axtell, TX 76624

    • Grocery and convenience stores
    • 5,214 SF
    • 12.07 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0860154
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 195 Heritage Pkwy

    Year built
    2024
    Lot size
    12.07 lot acres
    Property size
    5,214 SF
    Property type
    Grocery and convenience stores
    Property subtype
    Gas stations

    Description

    This exceptional turnkey opportunity presents the combined real estate and business operations of Longhorn Station, a brand-new Valero convenience store and gas station. Located at 195 Heritage Parkway in Axtell, Texas, 76624, this property boasts a prime location on 12.068 acres at a high-visibility intersection of Heritage Parkway and the expanding State Highway 31 West, just minutes from Waco. The 5,214 square foot building, constructed in 2024, showcases superior build quality and craftsmanship, exceeding the standards of typical convenience stores. The property includes six gas pumps and operates as a single unit within a Class A building. This fee-simple ownership offers a significant potential for growth in a rapidly developing area. The owner-user opportunity includes both the real estate and the established business, providing a complete and immediately operational investment. This is a high-volume location with significant potential for continued success. The property is a single-story building on a 12.068-acre lot, offering ample space and visibility. This turnkey operation is ready for immediate ownership and operation, presenting a rare opportunity in the Waco MSA.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Axtell
    County
    McLennan
    State
    Texas
    Longitude
    -96.9700046
    Latitude
    31.6801204

    Comparable in this City

    • $112,500
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      Unrestricted Land with Utilities

      2.19 acres in Leroy, TX with utilities in place.
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    • $199,500
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    • $140,000
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      Axtell, TX Acreage for Home

      3.5+ acre lot in Axtell ISD, build your dream home.
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    • $249,999
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      Unrestricted Land in Axtell, TX

      Unrestricted land ideal for commercial, investment, residential, or future development.
      E Old Axtell Rd, Axtell, TX 76624
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    • $240,000
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      Prime 8.5-Acre Commercial Land

      Axtell, TX commercial land, Hwy 84 frontage.
      000 Native Oaks Rd, Axtell, TX 76624
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    Similar Nearby for Sale

    • $112,500
      2.19 Acres

      Unrestricted Land with Utilities

      2.19 acres in Leroy, TX with utilities in place.
      4819 Heritage Pkwy, Leroy, TX 76624
      View Details
    • $240,000
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      Prime 8.5-Acre Commercial Land

      Axtell, TX commercial land, Hwy 84 frontage.
      000 Native Oaks Rd, Axtell, TX 76624
      View Details
    • Contact for pricing
      0.29 Acres

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      Cleared 0.29 acre lot with water meter in Leroy.
      201 S 1 St, Leroy, TX 76624
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    • $249,999
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      Unrestricted Land in Growing Axtell

      1.663 acres of unrestricted land perfect for business or investment.
      1317 Longhorn Pkwy, Axtell, TX 76624
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    • $230,000
      8.50 Acres

      Prime 8.5-Acre Commercial Land

      Axtell, Texas commercial lot, Hwy 84 frontage.
      0 Native Oaks Rd, Axtell, TX 76624
      View Details
    • $249,999
      1.72 Acres

      Unrestricted Land in Axtell, TX

      Unrestricted land ideal for commercial, investment, residential, or future development.
      E Old Axtell Rd, Axtell, TX 76624
      View Details
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    Axtell, TX 76624
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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