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

    2720 Franklin Ave, Unit 2700 Waco, TX 76710-7438

    • Commercial real estate
    • 39,341 SF
    • 1.59 lot acres
    OFF-MARKET
    Last Sale
    Dec 09, 2024
    Value Estimations
    $1,125,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-6413158
    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

    • BENCHMARK Construction / Construction Company

    Property Details for 2720 Franklin Ave

    Year built
    1954
    Construction
    CONCRETE
    Lot size
    1.59 lot acres
    Property size
    39,341 SF
    Property type
    Commercial real estate
    APN
    480200000490000
    APU
    480200000490000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $880,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,365,000
      Market price range: $1.37M - $4.65M

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    Mclennan
    State
    Texas
    Longitude
    -97.1511
    Latitude
    31.5371
    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
    $32,442
    $435,440
    $1,318,600
    $1,754,040
    -
    $435,440
    $1,318,600
    $1,754,040

    Comparable in this City

    • Value Estimation by Request
      21,172 SF

      300 Valley Mills Dr

      Distribution properties • 21,172 SF
      300 Valley Mills Dr, Waco, TX 76710
      View Details
    • Value Estimation by Request
      40,118 SF

      Waco Dr

      Commercial real estate • 40,118 SF
      Waco Dr, Waco, TX 76710
      View Details
    • Value Estimation by Request
      0.16 Acres

      710 64th Stb

      COMMERCIAL (GENERAL) • 0.16 Acres
      710 64th Stb, Waco, TX 76710-4387
      View Details
    • Value Estimation by Request
      0.16 Acres

      710 64th Stc

      COMMERCIAL (GENERAL) • 0.16 Acres
      710 64th Stc, Waco, TX 76710-4387
      View Details
    • Value Estimation by Request
      0.36 Acres

      5001 Ft Ave

      COMMERCIAL (GENERAL) • 0.36 Acres
      5001 Ft Ave, Waco, TX 76710
      View Details
    • Value Estimation by Request
      0.32 Acres

      2120 Lk Air Dr

      COMMERCIAL (GENERAL) • 0.32 Acres
      2120 Lk Air Dr, Waco, TX 76710
      View Details

    Similar Nearby for Sale

    • $475,000
      300 SF

      Waco Corner Lot Business Opportunity

      High-visibility location, ample parking, office space.
      2925 Franklin Ave, Waco, TX 76710
      View Details
    • Contact for pricing
      3.00 Acres

      Waco Commercial Land - 3 Acres

      High-visibility Waco development site. Excellent access & high traffic counts.
      4501 Waco Dr, Waco, TX 76710
      View Details
    • $890,000
      7.62 Acres

      Waco Commercial Land - 7.62 Acres

      Prime Waco commercial land, ideal for development.
      6801 Airport Rd, Waco, TX 76710
      View Details
    • $450,000

      Waco Commercial Land: Prime Retail Site

      40,118 SF lot, ready for development.
      0 Waco Dr, Waco, TX 76710
      View Details
    • $519,000
      4,488 SF

      2905 Franklin Ave, Waco, TX 76710

      Commercial real estate • 4,488 SF
      2905 Franklin Ave, Waco, TX 76710
      View Details
    • $500,000
      1.00 Acre

      Waco Commercial Land - $500K

      Prime Waco location, 1-acre commercial lot.
      5900 Bosque Blvd, Waco, TX 76710
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      63,896 SF

      Franklin Business Park Warehouses

      Waco, TX Industrial Space Available
      5900 Franklin Ave, Waco, TX 76710
      View Details
    • Contact for pricing
      192,298 SF

      Precision Drive Industrial Warehouse

      Large Warehouse Space Available - McLennan County
      401 Precision Dr, Waco, TX 76710
      View Details
    • Contact for pricing
      685,730 SF

      Richland Mall Retail Space

      Prime Waco shopping center space available.
      6001 Waco Dr, Waco, TX 76710
      View Details
    • $18 SF/Yr
      12,541 SF

      Waco Office Building: Lake Shore Dr

      Prime Waco Office Space, Flexible Lease Terms
      5213 Lake Shore Dr, Waco, TX 76710
      View Details
    • $20 SF/Yr
      10,060 SF

      Wells Fargo Tower Office Suites

      Waco, TX Executive Office Space
      1105 Wooded Acres Dr, Waco, TX 76710
      View Details
    • Contact for pricing
      1,786 SF

      Retail Space on Bosque Boulevard

      Retail space available for lease on Bosque Boulevard.
      5400 Bosque Blvd, Waco, TX 76710
      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.
    2720 Franklin Ave, Unit 2700
    Waco, TX 76710-7438
    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.