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    1305 S Key Ave Lampasas, TX 76550

    Sponsored
    For Sale
    $1,600,000

    Office - Lampasas, TX

    Type:Office
    Property size:
    20,000 SF
    Lot size:
    0.88 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 18 at 10:06 pm

    Property Features for 1305 S Key Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    1827
    Parking features
    Garage, Off Street, Open, Parking Lot, Paved or Surfaced
    Size
    20,000 SF
    Lot size
    0.88 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air, Electric

    Building Details

    Year built
    1990
    Flooring type
    Carpet, Tile, Vinyl
    Building materials
    Stucco
    Roof type
    Tar/Gravel
    Architectural style
    Other

    We can help!

    Listing Contact
    Leah Caruthers
    Leah Caruthers

    Texas Real Estate Sales (512) 556-9090

    Listing agent Leah Caruthers (512) 556-9090

    Listing date Feb 18, 2026

    MLS# 21172297 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lampasas Office Building on Highway

    This 20,000 square-foot, two-story office building is located in Lampasas, Texas, benefiting from its position on a three-highway corridor where Highways 281, 183, and 190 converge. The property features 200 feet of highway frontage on a corner lot, near the intersection of Highway 190 and the connecting route to Highway 281. The location has a daily Texdot car count of 15,720. The established building currently houses several tenants and has capacity for more. The property includes an oversized parking lot that can accommodate ample parking or additional building space. The lot size is 0.88 acres. The current owner also possesses additional land across the side street available for purchase.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Texas Animal Health ... Veterinary Clinic Southern Star Communications, ... Telecommunications Service WIC Social Service Agency Diversified Insurance Brokerage ... Insurance Agency Lampasas MHMR - Central ... Crisis Center

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Lampasas
    County
    Lampasas
    State
    Texas
    Longitude
    -98.178703
    Latitude
    31.056696

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    FAQs

    What type of property is this?
    Office building - Two-story office building in high-traffic Lampasas location.
    Where is this office building located?
    The property is located at 1305 S Key Ave Lampasas, TX.
    What is the asking price?
    The asking price for this property is $1,600,000.
    What are key features of this property?
    This property features: - High-traffic location on Hwy 281, 183, and 190, with a Texdot car count of 15,720 daily.; - **200 feet of highway frontage on a corner lot**, visible from a major intersection.; - Large, existing 20,000 sq ft two-story office building suitable for multiple tenants or redevelopment.
    (512) 556-9090
    Request Owner's contact information
    1305 S Key Ave Lampasas, TX 76550
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    Lampasas, TX 76550
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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.

    More about this property
    1305 S Key Ave Lampasas, TX 76550
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    We can help!
    Listing Contact
    Leah Caruthers
    Leah Caruthers
    Real Estate License ID: 0561403
    (512) 556-9090 (512) 627-6670
    Learn more
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