613 Austin Ave, Unit 615 Waco, TX 76701-2061
- Commercial real estate
- 12,934 SF
- 0.34 lot acres
Current Use by Public Records
- Jake's Texas Tea House / American Restaurant / Restaurant
Property Details for 613 Austin Ave
- Year built
- 1910
- Construction
- BRICK
- Lot size
- 0.34 lot acres
- Property size
- 12,934 SF
- Zone code
- 2007 TIF
- Property type
- Commercial real estate
- APN
- 480149010000000
- APU
- 480149010000000
Description
This fully stabilized mixed-use property in downtown Waco, Texas, presents a compelling investment opportunity. Located at 613 Austin Avenue, this 4,229 square foot building boasts 100% occupancy with two tenants under a triple-net (NNN) lease. Jake's Texas Tea House, a well-established restaurant, and GLS Texas Surveyors, occupy the space. The current lease term is for three years, commencing August 30, 2023, and expiring August 30, 2026, leaving approximately 1.8 years remaining. The property, built in 1910 and renovated in 2011, benefits from a prime downtown location, ensuring high visibility and foot traffic. The building is zoned C-4, reflecting its suitability for commercial use. The attractive 7.5% cap rate makes this a strong addition to any portfolio. Note that this sale excludes any lofts above the restaurant. This is a rare opportunity to acquire a stabilized, high-performing commercial property in a thriving Texas market. The property offers a blend of vintage charm and modern functionality, making it an ideal investment for discerning buyers.
Value Estimation
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Location Insight
- Map
- Local Demand
- City
- Waco
- County
- Mclennan
- State
- Texas
- Longitude
- -97.1335
- Latitude
- 31.5558
- CBSA code
- 47380
- CBSA name
- WACO, TX METROPOLITAN STATISTICAL AREA
