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401 S 3rd St 41,679 SF 73% Leased Office Building Waco, TX 76706 For Sale
Investment Highlights
- •100% Leased with rent growth potential
- •Legacy asset with strong tenant mix
- •Close to 100 dedicated parking spaces
Executive Summary
The Historic Phoenix Building - Now For Sale in Downtown Waco
Located between Waco’s top tourist destination, the Magnolia Silos, and the city’s most significant riverfront development in decades, the Phoenix Building offers a rare opportunity to own a true legacy asset with strong and growing income potential. This fully leased property features Pignetti’s restaurant as the anchor tenant on the ground floor, with premium office tenants occupying the second floor. Crafted with exceptional quality, the building showcases 14-foot ceilings adorned with chandeliers, as well as original 1907 structural beams and hardwood floors. The second floor also includes a versatile live/work/VRBO unit, ideal for upscale loft living or a unique business space.
Located between Waco’s top tourist destination, the Magnolia Silos, and the city’s most significant riverfront development in decades, the Phoenix Building offers a rare opportunity to own a true legacy asset with strong and growing income potential. This fully leased property features Pignetti’s restaurant as the anchor tenant on the ground floor, with premium office tenants occupying the second floor. Crafted with exceptional quality, the building showcases 14-foot ceilings adorned with chandeliers, as well as original 1907 structural beams and hardwood floors. The second floor also includes a versatile live/work/VRBO unit, ideal for upscale loft living or a unique business space.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
41,679 SF
Building Class
B
Year Built/Renovated
1907/2019
Percent Leased
73%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
20,840 SF
Building FAR
0.62
Lot Size
1.55 AC
Opportunity Zone
Yes
Zoning
C-4
Parking
100 Spaces (2.4 Spaces per 1,000 SF Leased)
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
- 2nd Fl-Ste 201
- 6,938 SF
- Office
- -
- Now
- 2nd Fl-Ste 209
- 1,645 SF
- Office
- -
- Now
- 2nd Fl-Ste 211
- 2,595 SF
- Office
- -
- Now
| Space | Size | Space Use | Build-Out | Available |
| 2nd Fl-Ste 201 | 6,938 SF | Office | - | Now |
| 2nd Fl-Ste 209 | 1,645 SF | Office | - | Now |
| 2nd Fl-Ste 211 | 2,595 SF | Office | - | Now |
2nd Fl-Ste 201
| Size |
| 6,938 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
2nd Fl-Ste 209
| Size |
| 1,645 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
2nd Fl-Ste 211
| Size |
| 2,595 SF |
| Space Use |
| Office |
| Build-Out |
| - |
| Available |
| Now |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,412,592 | |
| Land Assessment | $1,130,158 | Total Assessment | $2,542,750 |
Property Taxes
Parcel Numbers
Land Assessment
$1,130,158
Improvements Assessment
$1,412,592
Total Assessment
$2,542,750
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401 S 3rd St
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