324 S Lacy Dr Waco, TX 76705

Property Details for 324 S Lacy Dr

Year built

1962

Construction

STEEL FRAME

Lot size

4.00 lot acres

Property size

800 SF

Zone code

C

Property type

Commercial real estate

APN

200885000042000

APU

200885000042000

Description

This exceptional 7,500 square foot warehouse in Waco, Texas, presents a compelling investment opportunity. Located at 324 S Lacy Dr, this single-tenant property boasts a strong lease with Forward Air, Inc., extending until January 31, 2029, featuring 3% annual rent increases. The property generates a Net Operating Income (NOI) of $81,000, resulting in an attractive 7.25% capitalization rate. Situated on a four-acre lot, the warehouse features 18-foot ceilings, nine 10' x 20' dock-high doors, one semi-dock, and one ramp, ensuring efficient loading and unloading. Approximately 750 square feet are dedicated to office space. The property benefits from city utilities, a new roof, and a fully fenced perimeter. Its prime location offers excellent access to major transportation arteries, including New Dallas Highway (77), Loop 340, and I-35 North, providing convenient access to the Dallas-Fort Worth metroplex. This is a rare opportunity to acquire a well-maintained, high-performing industrial asset with a long-term lease in a thriving Texas market.