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315 University Park Dr Waco, TX 76701-2239

Commercial real estate Google Maps
14,400 SF 1.26 ac lot Built 1959
Entity Owned 5-yr Hold Absentee Owner ~ Est. High Equity
No photos on file
For Sale
Contact for pricing 14,400 SF
315 University Park Dr, Waco, TX 76701-2239
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Estimated value (blended)
$1.83M
Range $1.64M – $2.01M (±10%)
Property ID US83-0450979

Property summary

AI-generated overview

This exceptional 3,200 square foot retail space, located at 315 S University Parks Blvd Suite #140 in Waco, Texas, presents a unique investment opportunity. Situated within a 14,040 square foot building on a 1.265-acre lot, this single-tenant property boasts a prime location in a highly desirable shopping center. The space is categorized as Salon, Storefront Retail, Bar, Service, and Health and Beauty, offering versatility for a range of businesses. Renovated in 2017, the building is a single-story structure with no elevators. The property benefits from excellent visibility and ample parking, making it highly attractive to customers. Its strategic location, just two blocks from the highway and one block from the Brazos River, provides easy access and significant exposure. Furthermore, the surrounding area is experiencing substantial growth, with ongoing developments including streetscape improvements and a major riverfront transformation project incorporating multifamily housing, parking garages, retail, dining, entertainment, recreation, and potentially a new Waco Farmers Market. This dynamic environment promises significant future growth and increased foot traffic, making this retail space an exceptional investment with limitless potential. The property is zoned C-4.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1959
Construction CONCRETE
Total area 14,400 SF
Lot 1.26 ac (55,103 SF)
Zoning code 2007 TIF
APN 480323000433000
UPID US83-0450979

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Nail Salon
  • Currency Exchange Service Investment Service
  • Industrial Manufacturer Production Facility
  • Grocery & Convenience Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.79M
Blend (final) Blend
$1.83M

Owner & transaction history

since 2021
6 recorded transactions
2021
Price N/A
2016
Price N/A
2016
Price N/A
2007
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

2007 TIF · Waco, TX
Top alternative use upside
Office building $2.4M +112.0%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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