Modern Flex Space with
For Sale
$1,700,000
104 W Veterans Memorial Boulevard, Harker Heights, TX 76548
CommercialSale, Harker Heights, TX
Property Size8,600 SF
Lot Size0.65 Acres
Price / SF$197.67
Days on Market240
Property Features for 104 W Veterans Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-4
Parking features
Special Needs, Carport
Security features
Security
Interior features
Storage
Exterior features
Lighting, Storage
Accessibility
Accessible Approach with Ramp
Subdivision
Kern Acres 2nd Ext & Rev
Lot features
City Lot, Half To One Acre Lot, Sprinklers Automatic, Sprinklers In Ground, Sprinklers Multiple Locations
Directions
From I-14, exit for Veterans Memorial Blvd (Bus Hwy 190) in Harker Heights, follow Veterans Memorial for approximately 1.5 miles to the property.
Standard status
Active
APN
118033
Size
8,600 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KERN ACRES 2ND EXTENSION & REVISION AMENDED (L 7-8,17-18 B1), BLOCK 001, LOT 007A, ACRES .65
Tax Annual Amount
9771
Legal Description
KERN ACRES 2ND EXTENSION & REVISION AMENDED (L 7-8,17-18 B1), BLOCK 001, LOT 007A, ACRES .65
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Amenities
full kitchen and break area
security cameras
landscaped grounds
Building Details
Year built
2019
Floors in Building
1
Flooring type
Carpet, Concrete, Tile
Building materials
MetalFrame, MetalSiding, SteelFrame, StoneVeneer, SprayFoamInsulation
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Coldwell Banker Apex, Realtors
(254) 690-4321
Listed By:
Jean Shine · License #0282773
(254) 690-4321
Added: Jan 2
Changed: Aug 20
Last Checked: Aug 30 at 8:06AM
MLS# 600861
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.
Built in 2019, this 8,600-square-foot flex facility combines 2,600 square feet of office and climate-controlled space with 6,000 square feet of warehouse area. The office component includes a reception and lobby, three private offices, a kitchen and break area, pantry, and two bathrooms. LED lighting, security cameras, concrete flooring in select areas, and accessible ramp entry support daily operations.
The warehouse offers 15'-20' clear heights, foam insulation, three 12' overhead doors with automatic openers, and a bathroom with direct warehouse access. A 1,200-square-foot covered parking or storage area complements the building, while the 0.65-acre property also includes an 8-foot fenced and gated yard with controlled access. The yard accommodates 18-wheelers and is served by landscaped, irrigated grounds. Located at 104 W Veterans Memorial Boulevard in Harker Heights, the property carries B-4 zoning and has public water and sewer.
The warehouse offers 15'-20' clear heights, foam insulation, three 12' overhead doors with automatic openers, and a bathroom with direct warehouse access. A 1,200-square-foot covered parking or storage area complements the building, while the 0.65-acre property also includes an 8-foot fenced and gated yard with controlled access. The yard accommodates 18-wheelers and is served by landscaped, irrigated grounds. Located at 104 W Veterans Memorial Boulevard in Harker Heights, the property carries B-4 zoning and has public water and sewer.
Key Highlights
- 8,600‑square‑foot flex facility built in 2019
- 2,600 square feet of office and climate‑controlled space plus 6,000 square feet of warehouse area
- Warehouse clear heights range from 15'-20'
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
$143,853
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
8.46%
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%
$2,877,060
$2.9M
Cap Rate 7%
$2,055,043
$2.1M
Cap Rate 9%
$1,598,367
$1.6M
Market Conditions
NOI Build-Up for 8,600 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
$264.2K $30.72/SF
− Vacancy
−$72.4K −$8.42/SF
EGI
$191.8K $22.30/SF
− OpEx
−$48.0K −$5.58/SF
NOI
$143.9K $16.73/SF
Area
Bell County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$2,877,060
Cap Rate 7%
$2,055,043
Cap Rate 9%
$1,598,367
Alternative Uses
Best Use
Office B
$2.06M
$1.80M – $2.40M
NOI $143,853 @ 7.0% cap · market cap 8.46%
Second Best
Flex RnD
$1.50M
$1.32M – $1.76M
NOI $105,302 @ 7.0% cap · market cap 6.19%
Theoretical Best
Multifamily LT 5
$96.01M
$84.01M – $112.01M
NOI $6,720,487 @ 7.0% cap · market cap 395.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76548, TX
32,714
Population
12,657
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
93%
High-School Grad
16.1 sq mi
ZIP Area
2,032
Density / Sq Mi
$80,847
Median Household Income
$44,090
Median Earnings
$1,113
Median Rent
$268,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Business facility combines customer-facing offices, climate-controlled storage, and secured warehouse operations with controlled yard access.
Where is this flex space located?
The property is located at 104 W Veterans Memorial Boulevard Harker Heights, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 8,600‑square‑foot flex facility built in 2019; 2,600 square feet of office and climate‑controlled space plus 6,000 square feet of warehouse area; Warehouse clear heights range from 15'-20'
