B-5 Commercial Land with Dual
For Sale
$250,000
1809 E Veterans Memorial Boulevard, Killeen, TX 76541
CommercialSale, Killeen, TX
Property Size1,080 SF
Lot Size1.36 Acres
Price / SF$231.48
Days on Market120
Property Features for 1809 E Veterans Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-5
Subdivision
Lendale
Lot features
One To Three Acres, City Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Head southwest on I-14, take exit 285 towards WS Young Drive. Merrge onto E Central Texas Expwy, turn right onto S WS Young Drive. Turn left onto E. Veterans Memorial Blvd. Property is on your right with Realtor sign on sign post.
Standard status
Active
APN
4221, 446089, 446090
Size
1,080 SF
Lot size
1.36 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LENDALE, BLOCK 004, LOT 1, 4, & S 50' ADJ; Lendale, Block 003, Lot 0002, & S 125' Adj & W 50' Adj; Lendale, Block 003, Lot 0003, & W 50' x 143' Strip Adj
Tax Annual Amount
3522
Legal Description
LENDALE, BLOCK 004, LOT 1, 4, & S 50' ADJ; Lendale, Block 003, Lot 0002, & S 125' Adj & W 50' Adj; Lendale, Block 003, Lot 0003, & W 50' x 143' Strip Adj
Utilities
Sewer type
Public Sewer
Building Details
Year built
2017
Floors in Building
1
Flooring type
Unfinished
Building materials
Glass, MetalFrame
Roof type
Metal
Listing Agency:
RE/MAX Legends
(254) 702-0598
Listed By:
Cher Hislop · License #0556816
(254) 654-0090
Added: May 6
Changed: Aug 20
Last Checked: Sep 2 at 7:06AM
MLS# 573211
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 1.355-acre commercial land parcel includes three open tracts, dual entrances, and a 1,080-square-foot metal-frame building constructed in 2017. The building contains three partitioned offices and two bathrooms, with electrical wiring and HVAC ductwork already in place. An additional storage building is included, and the property is sold as-is. Flooring is unfinished, and the roof is metal.
Access is provided from E. Veterans Memorial Boulevard and Nathan Drive, with approximately 176 feet of frontage on the front entrance and approximately 203 feet on the rear entrance. The site has room for parking 50+ cars and includes an electric pole, city water, and public sewer. New apartments are located across from the property, with businesses along E. Veterans Memorial Boulevard. The property is zoned B-5.
Access is provided from E. Veterans Memorial Boulevard and Nathan Drive, with approximately 176 feet of frontage on the front entrance and approximately 203 feet on the rear entrance. The site has room for parking 50+ cars and includes an electric pole, city water, and public sewer. New apartments are located across from the property, with businesses along E. Veterans Memorial Boulevard. The property is zoned B-5.
Key Highlights
- 1.355‑acre commercial land parcel with three open tracts
- Approximately 176 feet of frontage on E. Veterans Memorial Boulevard and 203 feet on Nathan Drive
- Dual entrances from E. Veterans Memorial Boulevard and Nathan Drive
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
$14,277
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
5.71%
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%
$285,540
$285.5K
Cap Rate 7%
$203,957
$204.0K
Cap Rate 9%
$158,633
$158.6K
Market Conditions
NOI Build-Up for 1,080 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
$23.3K $21.60/SF
− Vacancy
−$4.3K −$3.97/SF
EGI
$19.0K $17.63/SF
− OpEx
−$4.8K −$4.41/SF
NOI
$14.3K $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%
$285,540
Cap Rate 7%
$203,957
Cap Rate 9%
$158,633
Alternative Uses
Best Use
Office B
$204.0K
$178.5K – $238.0K
NOI $14,277 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$259.4K
$227.0K – $302.7K
NOI $18,159 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
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?
Commercial land - B-5 zoning and three open tracts accommodate multiple commercial business possibilities.
Where is this commercial land located?
The property is located at 1809 E Veterans Memorial Boulevard Killeen, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1.355‑acre commercial land parcel with three open tracts; Approximately 176 feet of frontage on E. Veterans Memorial Boulevard and 203 feet on Nathan Drive; Dual entrances from E. Veterans Memorial Boulevard and Nathan Drive
