Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2317 Joey Dr Waco, TX 76711

    • Commercial land
    • 0.37 lot acres
    For Sale
    View listing
    $99,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-0858560
    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

    • Commercial land

    Property Details for 2317 Joey Dr

    Lot size
    0.37 lot acres
    Property type
    Commercial land
    APN
    480804200001000
    APU
    480804200001000

    Description

    This exceptional 0.367-acre vacant land parcel in Waco, Texas, presents a remarkable investment opportunity. Located at 2317 Joey Dr, in McLennan County, zip code 76711 (31.5147804, -97.1400298), this property boasts prime visibility and accessibility due to its convenient corner lot location with frontage on I-35 South Frontage Road. Daily traffic counts exceed 80,000 vehicles, ensuring high exposure for any future development. The asking price is $128,000, translating to $8 per square foot. Utilities are already on-site, simplifying the development process. Zoned for M-2 Light Industrial use, this land is ideal for a variety of non-nuisance industrial uses and compatible related businesses. The zoning regulations are designed to maintain long-term quality and economic vitality, fostering a harmonious relationship with neighboring properties. Area, height, yard, and other site requirements are in place to ensure a high-quality development. This is a rare chance to acquire a highly visible and accessible lot in a thriving area with excellent infrastructure. Don't miss this chance to build your dream office or warehouse in a high-traffic location.

    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
    Waco
    County
    Mclennan
    State
    Texas
    Longitude
    -97.1399
    Latitude
    31.5145
    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
    2023
    $2,150
    $95,920
    $0.00
    $95,920
    -
    $95,920
    $0.00
    $95,920

    Comparable in this City

    • Value Estimation by Request
      4.09 Acres

      Creekview Dr

      VACANT COMMERCIAL LAND • 4.09 Acres
      Creekview Dr, Waco, TX 76711
      View Details
    • Value Estimation by Request
      3.59 Acres

      914 Vly Mls Dr

      VACANT COMMERCIAL LAND • 3.59 Acres
      914 Vly Mls Dr, Waco, TX 76711-1161
      View Details
    • Value Estimation by Request
      56.97 Acres

      3000 Clay Ave

      VACANT COMMERCIAL LAND • 56.97 Acres
      3000 Clay Ave, Waco, TX 76711
      View Details
    • Value Estimation by Request
      1.41 Acres

      3311 Clay Ave

      VACANT COMMERCIAL LAND • 1.41 Acres
      3311 Clay Ave, Waco, TX 76711-1257
      View Details
    • Value Estimation by Request
      0.25 Acres

      2705 Webster Ave

      VACANT COMMERCIAL LAND • 0.25 Acres
      2705 Webster Ave, Waco, TX 76711
      View Details
    • Value Estimation by Request
      0.15 Acres

      3000 Williams Lndg Rd

      VACANT COMMERCIAL LAND • 0.15 Acres
      3000 Williams Lndg Rd, Waco, TX 76711-1212
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land Near Interstate 35

      38,690 SF land near I-35 in Waco, Texas.
      2700 S New Rd, Waco, TX 76711
      View Details
    • Contact for pricing

      Retail Lot on Corner Location

      One acre retail lot in a high-growth, high-traffic area.
      1616 S New Rd, Waco, TX 76711
      View Details
    • Contact for pricing

      Waco Commercial Land For Sale

      Located in Central Waco's dominant retail corridor.
      2315 Loop 340 W, Waco, TX 76711
      View Details
    • $320,000
      0.73 Acres

      Commercial Lot in Growing Area

      0.72 acre commercial lot in a prime Waco location.
      105 Victory Dr, Waco, TX 76711
      View Details
    • Contact for pricing

      Commercial Land in Central Texas Marketplace

      Commercial land with C-2 zoning in Waco's premier shopping destination.
      2314 Market Place Dr, Waco, TX 76711
      View Details
    • $99,000
      0.37 Acres

      Waco Land I-35 Visibility

      Unimproved land suitable for small business with I-35 visibility.
      2317 Joey Dr, Waco, TX 76711
      View Details

    Similar Nearby for Lease

    • $100,000

      Prime Commercial Land Near HEB

      0.85-acre commercial land for lease near high-traffic HEB.
      1821 Valley Mills Dr S, Waco, TX 76711
      View Details
    • Contact for pricing
      89,298 SF

      Waco Commercial Land Pad Sites

      Prime Waco Land, C-2 & C-3 Zoning
      0 New Rd, Waco, TX 76711
      View Details
    • Contact for pricing
      2,224 SF

      Waco Retail Space: Prime Location

      High-visibility retail space in Waco, TX.
      2324 Market Place Dr, Waco, TX 76711
      View Details
    • Contact for pricing
      1,792 SF

      Waco Retail Outparcel Investment

      Prime Waco location, drive-thru ready.
      1723 Valley Mills Dr, Waco, TX 76711
      View Details
    • $12 SF/Yr
      11,786 SF

      University Center Retail Space For Lease

      High-traffic retail space near new H-E-B
      1401 Vly Ml Dr, Beverly Hills, TX 76711
      View Details
    • $400 /Mo
      250 SF

      Office Space on North Valley

      Office space for rent with conference and break rooms.
      1838 N Valley Mills Dr, Waco, TX 76711
      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.
    2317 Joey Dr
    Waco, TX 76711
    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.