Flex Space with Warehouse
For Sale
$415,000
10378 Oakalla Road, Killeen, TX 76549
CommercialSale, Killeen, TX
Property Size2,400 SF
Lot Size0.89 Acres
Price / SF$172.92
Days on Market111
Property Features for 10378 Oakalla Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking features
Oversize
Subdivision
Elisha Vie Surv Abs #470
Lot features
City Lot, Half To One Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From I-14 in Killeen: Hwy 201 (Clear Creek Rd) south - R on Reese Creek Rd - L on Oakalla - building is on the left immediately after leaving Ft. Hood property and crossing the cattle guard. From I-14 in Copperas Cove: FM 116 South (aka Ivy Gap Rd) - L on Oakalla - building is on your right just before the cattle guard. From Leander: Hwy 183 - R on 2657 in Briggs - R on CR 221 (becomes Oakalla)
Standard status
Active
APN
125425
Size
2,400 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A0470BC ELISHA IVIE, 1-1, ACRES .89
Tax Annual Amount
1305
Legal Description
A0470BC ELISHA IVIE, 1-1, ACRES .89
Utilities
Sewer type
Aerobic Septic, Public Sewer, Septic Tank
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Private, Well
Building Details
Year built
2025
Floors in Building
1
Flooring type
Carpet, Concrete, Vinyl
Building materials
Glass, MetalFrame, MetalSiding, SteelFrame, SprayFoamInsulation
Roof type
Metal
Listing Agency:
Coldwell Banker Apex, Realtors
(254) 690-4321
Listed By:
Jean Shine · License #0282773
(254) 690-4321
Added: May 12
Changed: Aug 28
Last Checked: Aug 30 at 8:06AM
MLS# 613338
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.
Investment Insights
Based on property information with market context.
This 2,400-square-foot flex property at 10378 Oakalla Road combines 1,200 square feet of warehouse area with a separate 1,200-square-foot heated and cooled section. The warehouse includes a 14-foot overhead bay door, while multiple 4-foot exterior walk doors support pallet movement. Interior features include LED lighting, a bathroom, kitchen, concrete, vinyl, and carpet flooring, along with spray foam insulation in the flex area. The building has a metal roof and steel and metal-frame construction and was built in 2025. The property is currently under construction.
The 0.89-acre site is adjacent to Ft. Hood Military Base and offers oversized parking, vehicle maneuvering space, and semi-truck access. Located in Killeen, the property is outside city limits and has no zoning restrictions. Water is supplied by a private well, and the site includes aerobic septic and septic tank systems. Central electric heating and cooling serve the building.
The 0.89-acre site is adjacent to Ft. Hood Military Base and offers oversized parking, vehicle maneuvering space, and semi-truck access. Located in Killeen, the property is outside city limits and has no zoning restrictions. Water is supplied by a private well, and the site includes aerobic septic and septic tank systems. Central electric heating and cooling serve the building.
Key Highlights
- 2,400 square feet total, divided between 1,200‑square‑foot warehouse and 1,200‑square‑foot flex areas
- 14‑foot overhead bay door plus multiple 4‑foot exterior walk doors
- 0.89‑acre site with oversized parking and semi‑truck access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,726
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$634,520
$634.5K
Cap Rate 7%
$453,229
$453.2K
Cap Rate 9%
$352,511
$352.5K
Market Conditions
NOI Build-Up for 2,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.8K $21.60/SF
− Vacancy
−$9.5K −$3.97/SF
EGI
$42.3K $17.63/SF
− OpEx
−$10.6K −$4.41/SF
NOI
$31.7K $13.22/SF
Area
Killeen, TX
Vacancy
18.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$634,520
Cap Rate 7%
$453,229
Cap Rate 9%
$352,511
Alternative Uses
Best Use
Office B
$453.2K
$396.6K – $528.8K
NOI $31,726 @ 7.0% cap · market cap 7.64%
Second Best
Warehouse
$246.5K
$215.7K – $287.6K
NOI $17,258 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$576.5K
$504.4K – $672.5K
NOI $40,352 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76549, TX
56,199
Population
21,794
Households
2.6
Avg Household Size
29
Median Age
23%
College-Educated
95%
High-School Grad
94.1 sq mi
ZIP Area
597
Density / Sq Mi
$62,536
Median Household Income
$36,340
Median Earnings
$1,363
Median Rent
$202,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New commercial space combines conditioned office capacity with a dedicated warehouse area and convenient access near Ft. Hood Military Base.
Where is this flex space located?
The property is located at 10378 Oakalla Road Killeen, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: 2,400 square feet total, divided between 1,200‑square‑foot warehouse and 1,200‑square‑foot flex areas; 14‑foot overhead bay door plus multiple 4‑foot exterior walk doors; 0.89‑acre site with oversized parking and semi‑truck access
