Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    22002 Woodway Dr Woodway, TX 76712-7517

    Property Lookup

    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    22002 Woodway Dr Woodway, TX 76712-7517

    View on Map
    • Commercial real estate
    • 5,000 SF
    • 1.29 lot acres
    Off-Market
    Last Sale Apr 9, 2024
    Property ID
    US82-3543011
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 22002 Woodway Dr

    Year built
    1980
    Construction
    STEEL FRAME
    Lot size
    1.29 lot acres
    Property size
    5,000 SF
    Zone code
    C
    Property type
    Commercial real estate
    APN
    360900000011018
    APU
    360900000011018

    Description

    This exceptional 5,000-square-foot industrial property in Waco, Texas, offers a blend of warehouse and office space, ideal for diverse business needs. Situated on 1.29 acres in McLennan County, the single-story building features a spacious 3,800-square-foot warehouse and a 1,200-square-foot office area. The warehouse boasts three grade-level doors—two measuring 12' x 12' and one 10' x 10'—ensuring efficient loading and unloading. The property includes a large, paved, and fully fenced yard, providing ample secure space. Power is supplied by 120/240 1PH-3W, with 125 and 225 amp options available. Warehouse ceiling heights are 13 feet at the sides and 15 feet in the center, offering generous vertical storage. The property is zoned Planned Industrial (City of Woodway) and benefits from high visibility due to its location on U.S. Highway 84, enhancing accessibility and exposure. This functional and strategically located property presents a compelling opportunity for businesses seeking a combined office and warehouse solution. The address is 22002 Woodway Drive, Waco, TX 76712.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Woodway
    County
    Mclennan
    State
    Texas
    Longitude
    -97.2567
    Latitude
    31.4846
    CBSA code
    47380
    CBSA name
    WACO, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $5,742
    $70,240
    $253,950
    $324,190
    -
    $70,240
    $253,950
    $324,190

    Comparable in this City

    • Value Estimation by Request
      72,360 SF

      6805 Imperial Dr

      Flex space • 72,360 SF
      6805 Imperial Dr, Waco, TX 76712
      View Details
    • Value Estimation by Request
      1.50 Acres

      1.5 Acres On Crosslake Pkwy

      Land • 1.50 Acres
      0 1.5 Acres On Crosslake Pkwy, Waco, TX 76712
      View Details
    • Value Estimation by Request
      8.10 Acres

      Ritchie Rd And Chapel Rd

      Land • 8.10 Acres
      0 Ritchie Rd And Chapel Rd, Waco, TX 76712
      View Details
    • Value Estimation by Request
      2.95 Acres

      6500 Premier Dr

      Land • 2.95 Acres
      6500 Premier Dr, Woodway, TX 76712
      View Details
    • Value Estimation by Request
      1.20 Acres

      Bosque Blvd

      COMMERCIAL (GENERAL) • 1.20 Acres
      Bosque Blvd, Woodway, TX 76712
      View Details
    • Value Estimation
      $515,000
      3.95 Acres

      8300 Central Park Dr

      COMMERCIAL (GENERAL) • 3.95 Acres
      8300 Central Park Dr, Woodway, TX 76712-6523
      View Details

    Similar Nearby for Sale

    • $495,000
      102,801 SF

      Woodway Office Building Site

      Prime Waco location, 102,801 sqft, 2.36 acres.
      2500 Ambassador Dr, Woodway, TX 76712
      View Details
    • $249,900
      0.51 Acres

      Residential Land in Westlake, Woodway

      Residential land in Woodway's Westlake subdivision with luxury amenities.
      53 Turnberry Cir, Woodway, TX 76712
      View Details
    • $450,000
      0.49 Acres

      Woodway Duplex in Midway ISD

      Inviting duplex in Midway ISD, great for investors.
      195 Ashland Dr, Woodway, TX 76712
      View Details
    • $1,306,800
      1.50 Acres

      Prime Commercial Development Lot

      1.5-acre commercial lot in a mixed-use development.
      Tbd-Lot 5 Hwy 6 N, Woodway, TX 76712
      View Details
    • $871,200
      1.00 Acre

      Prime Commercial Development Lot

      1-acre commercial lot at a high-traffic intersection in Woodway, TX.
      Tbd-Lot 7 Hwy 6 N, Woodway, TX 76712
      View Details
    • $249,900
      0.56 Acres

      Residential Land in Westlake, Woodway

      Residential land in Westlake subdivision, Woodway, near local attractions.
      39 Turnberry Ct, Woodway, TX 76712
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Functional Space in Woodway, Texas

      Versatile space suitable for retail, office, or light industrial use.
      8020 Central Park Dr, Woodway, TX 76712
      View Details
    • Contact for pricing

      Premier Retail Destination in Waco

      Retail space in established West Waco neighborhood center.
      1201 Hewitt Dr, Woodway, TX 76712
      View Details
    • Contact for pricing

      Highway 6 Commercial Space Available

      Customizable commercial space ideal for office, retail, or warehouse.
      6604 State Highway 6, Woodway, TX 76712
      View Details
    • Contact for pricing
      1,500 SF

      Woodway Flex Space Available

      Flex space available for rent in Woodway, Texas.
      4381 N State Highway 6, Woodway, TX 76712
      View Details
    • $10 SF/Yr
      14,648 SF

      Warehouse and Showroom Space Available

      Warehouse and showroom space with highway visibility, available December 2024.
      6175 N State Highway 6, Woodway, TX 76712
      View Details
    • $13 SF/Yr
      17,600 SF

      Warehouse with Showroom and Offices

      17,600 SF warehouse with showroom, offices, and fenced yard.
      1900 Loop 340 W, Woodway, TX 76712
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    22002 Woodway Dr
    Woodway, TX 76712-7517
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!