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    1002 Medical Drive Killeen, TX 76543

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    For Sale
    $985,000

    COMMERCIAL - Killeen, TX

    Property size:
    7,170 SF
    Lot size:
    0.67 Acres
    Price / SF:
    $137/SF
    Added:
    Jul 13, 2025
    Days on Market:
    298
    Last Refresh:
    May 6 at 3:06 pm

    Property Features for 1002 Medical Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    B-3
    Parking features
    Driveway
    Interior features
    BedroomOnMainLevel, FullBathOnMainLevel
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    APN
    402886
    Size
    7,170 SF
    Lot size
    0.67 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    W S S ADDITION, BLOCK 006, LOT 002B
    Tax Annual Amount
    3794

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1989
    Floors in Building
    1
    Flooring type
    Laminate, Carpet, Tile
    Building materials
    Brick, Masonry

    We can help!

    Listing Contact
    Jim Wright
    Jim Wright

    Listing agent Jim Wright License #0181945

    Listing office Jim Wright Company 3800 S W.S. Young Drive Suite 101, TX

    Listing date Jul 13, 2025

    MLS# 563331

    Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully equipped and ready to occupy.
    • Multiple ADA bathrooms.
    • Fire alarm and sprinkler systems, plus a security system.
    • Large fenced backyard, partially covered.
    • Paved parking at the end of a cul‑de‑sac.
    • Remodeled a few years ago with updated flooring (Carpet, Tile, Laminate).

    Overview

    Remodeled Commercial Property, Killeen, TX

    This remodeled commercial property, previously leased to a government shelter for children from 1st grade to 12 years old, features 42 twin beds and multiple ADA-compliant bathrooms. The property includes a kitchen equipped with a vent-a-hood and range, as well as a dining area furnished with tables and chairs. It is equipped with two 100-gallon water heaters, a fire alarm system, and a fire sprinkler system, along with a security system. The interior recreation area contains a ping pong table, fuse ball machine, children's books, couches, and chairs. A large, partially covered, fenced backyard is also included. Additional amenities include a laundry room with two washing machines and two dryers, and multiple offices furnished with desks and chairs. The property has paved parking and is located at the end of a cul-de-sac. The property is situated on a 0.6707-acre lot and has a building size of 7,170 square feet. The zoning is B-3. The property is ready for immediate occupancy.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Handprints Academy Daycare Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Bus Media Center — 3401 E Rancier Ave sutie 116, Killeen, TX 76543
    • Miles Ahead Childcare and — 3301 E Rancier Ave, Killeen, TX 76543
    • Day Care — Killeen, TX 76543
    • Fun Time Learning Center — 441 N 38th St, Killeen, TX 76543

    Location Insight

    • Map
    • Local Demand
    City
    Killeen
    County
    Bell
    State
    Texas
    Longitude
    -97.7030702
    Latitude
    31.1209791

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    FAQs

    What type of property is this?
    Day care center - Fully equipped, remodeled commercial property ready for immediate occupancy.
    Where is this day care center located?
    The property is located at 1002 Medical Drive Killeen, TX.
    What is the asking price?
    The asking price for this property is $985,000.
    What are key features of this property?
    This property features: Fully equipped and ready to occupy.; Multiple ADA bathrooms.; Fire alarm and sprinkler systems, plus a security system.
    (254) 289-3145
    We can help!
    Listing Contact
    Jim Wright
    Jim Wright
    Real Estate License ID: 0181945
    Learn More
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    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.

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