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

    3421 Marlin Hwy Waco, TX 76705-3738

    • Commercial land
    • 9.75 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3309207
    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

    • shepherd mullins visitation center / Correctional Services Department

    Property Details for 3421 Marlin Hwy

    Lot size
    9.75 lot acres
    Zone code
    M2
    Property type
    Commercial land
    APN
    280101080001000
    APU
    280101080001000

    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
    -97.0754
    Latitude
    31.5472
    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
    $0.00
    $195,290
    $0.00
    $195,290
    -
    $195,290
    $0.00
    $195,290

    Comparable in this City

    • Value Estimation by Request
      0.04 Acres

      6 Hwy 6th 6th E

      VACANT COMMERCIAL LAND • 0.04 Acres
      6 Hwy 6th 6th E, Waco, TX 76705
      View Details
    • Value Estimation by Request
      13.98 Acres

      Air Base Rd

      VACANT COMMERCIAL LAND • 13.98 Acres
      Air Base Rd, Waco, TX 76705
      View Details
    • Value Estimation by Request
      0.48 Acres

      Barlow St

      VACANT COMMERCIAL LAND • 0.48 Acres
      Barlow St, Waco, TX 76705
      View Details
    • Value Estimation by Request
      0.46 Acres

      2209 Bellmead Dr

      VACANT COMMERCIAL LAND • 0.46 Acres
      2209 Bellmead Dr, Waco, TX 76705-3218
      View Details
    • Value Estimation by Request
      0.24 Acres

      4423 Bellmead Dr

      VACANT COMMERCIAL LAND • 0.24 Acres
      4423 Bellmead Dr, Waco, TX 76705-2603
      View Details
    • Value Estimation by Request
      0.30 Acres

      2504 Bellmead Dr

      VACANT COMMERCIAL LAND • 0.30 Acres
      2504 Bellmead Dr, Waco, TX 76705
      View Details

    Similar Nearby for Sale

    • $500,000
      3 SF

      3.4 Acres Commercial Land Available

      3.4 acres of commercial land with utilities near I-35.
      1509 New Dallas Hwy, Waco, TX 76705
      View Details
    • $972,000

      Cleared Land Ready for Development

      12.96 acres of cleared land, ready for development.
      3601 Kendall Ln, Waco, TX 76705
      View Details
    • New
      $230,000
      9.07 Acres

      Waco Land Near Baylor

      9-acre tract near Baylor University and downtown Waco.
      3412 Kendall Ln, Waco, TX 76705
      View Details
    • $871,200
      4 SF

      Development Land Near Interstate 35

      Prime commercial land for development with high traffic visibility.
      930 Lacy Dr, Waco, TX 76705
      View Details
    • $49,000
      1.00 Acre

      Unimproved Land Near Brazos River

      One acre lot near Brazos River with water meter available.
      2 Mary Ware Dr, Waco, TX 76705
      View Details
    • $43,000
      0.25 Acres

      Partially Wooded Lot Near I-35

      0.248-acre lot near I-35, ideal for building or investment.
      Tbd I-35, Lacy Lakeview, TX 76705
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      I-35 Frontage Road Pads

      Two commercial land pads available for ground lease on I-35.
      820 Interstate 35 N, Waco, TX 76705
      View Details
    • Contact for pricing
      68,312 SF

      Loop 340 Commercial Land Outparcel

      Prime Bellmead, TX Land - High Traffic!
      1205 Outparcel, Bellmead, TX 76705
      View Details
    • Contact for pricing

      Land with Utility Infrastructure

      Land with substations, gas pipelines, and fiber data access.
      800 Dry Creek Rd, Waco, TX 76705
      View Details
    • Contact for pricing
      2,892 SF

      Prime Retail Outparcel on Loop 340

      High-visibility retail space, ideal for QSR or similar.
      1207 Loop, Bellmead, TX 76705
      View Details
    • $21 SF/Yr

      Bellmead Retail Space For Lease

      Prime Retail Location, 2400 sq ft
      901 Loop 340, Bellmead, TX 76705
      View Details
    • $11 SF/Yr
      2,400 SF

      Waco Retail Property: Prime Location

      1-acre lot, 2400 sq ft retail space.
      1026 Craven Ave, Waco, TX 76705
      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.
    3421 Marlin Hwy
    Waco, TX 76705-3738
    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.