613 Austin AveWaco, TX 76701

For Sale
Call for price

Iconic Waco restaurant & office; 7.5% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
93
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.

Highlights

  • Fully stabilized mixed-use property with two tenants: GLS Texas Surveyors and Jake's Texas Tea House.
  • 7.5% cap rate.
  • Prime downtown Waco location on Austin Avenue.
  • 4,229 square feet.
  • NNN lease, 1.8 years remaining on a 3-year lease term, commencing August 30, 2023.

Property Details for 613 Austin Ave

Property type
Other retail properties, Individual retail properties
Square Feet
4,229 SF
Year Built/Renovated
1910/2011
Buildings
1

Location Insight

City
Waco
County
McLennan
State
Texas
Latitude
31.55563403561
Longitude
-97.133121468563
613 Austin Ave, Waco, Texas

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613 Austin Ave
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