613 Austin AveWaco, TX 76701

Property Details for 613 Austin Ave

Year built

1910

Construction

BRICK

Lot size

0.34 AC

Property size (Sq ft)

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.

• Alternative Use

  Use

  Valuation

  Residential

  $2,989,595

  Hospitality

  $2,738,453

  Educational

  $2,278,361

  Medical

  $2,356,717

  Retail

  $3,544,117

Location Insight

City

Waco

County

Mclennan

State

Texas

Latitude

31.5558

Longitude

-97.1335

CBSA code

47380

CBSA name

WACO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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