Fully Leased Retail Strip
For Sale
$2,350,000
202 E Veterans Memorial Boulevard, Killeen, TX 76541
CommercialSale, Killeen, TX
Property Size15,795 SF
Lot Size0.99 Acres
Price / SF$148.78
Days on Market768
Property Features for 202 E Veterans Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
B-5
Subdivision
Kim Add
Lot features
One To Three Acres, Level
Directions
Take Fort Hood Street North, right on Veterans Memorial Blvd, Plaza is just past the U-Haul store.
Standard status
Active
APN
132801
Size
15,795 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
KIM ADDITION, BLOCK 001, LOT 0001
Tax Annual Amount
35704
Legal Description
KIM ADDITION, BLOCK 001, LOT 0001
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1998
Floors in Building
1
Flooring type
Laminate, Concrete, Carpet
Building materials
Glass, Masonry, MetalFrame
Listing Agency:
Realty Executives Of Killeen · Realty Executives International
(254) 519-2080
Listed By:
Anita Riendeau · License #0289778
(254) 681-1000
Added: Aug 8, 2024
Changed: Sep 13
Last Checked: Sep 14 at 1:06AM
MLS# 553271
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 15,795-square-foot retail strip center occupies a 0.9931-acre site and was constructed in 1998. The property is fully rented and includes Corner Pocket Pool Hall, Papa Johns, a church, and Cloud Smoke and Vape. Building materials include glass, masonry, and metal framing, with concrete, carpet, and laminate flooring throughout. Central electric heating and cooling serve the improvements.
The property is located at 202 E Veterans Memorial Boulevard in Killeen, Texas, within B-5 zoning. An expansive on-site parking area supports the tenant lineup, while a marquee provides property signage. Public water and public sewer serve the site.
The property is located at 202 E Veterans Memorial Boulevard in Killeen, Texas, within B-5 zoning. An expansive on-site parking area supports the tenant lineup, while a marquee provides property signage. Public water and public sewer serve the site.
Key Highlights
- 15,795‑square‑foot retail strip center on a 0.9931‑acre site
- Fully rented with four occupants: Corner Pocket Pool Hall, Papa Johns, a church, and Cloud Smoke and Vape
- B‑5 zoning at 202 E Veterans Memorial Boulevard, Killeen, TX 76541
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
$187,872
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
7.99%
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%
$3,757,440
$3.8M
Cap Rate 7%
$2,683,886
$2.7M
Cap Rate 9%
$2,087,467
$2.1M
Market Conditions
NOI Build-Up for 15,795 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
$284.3K $18.00/SF
− Vacancy
−$15.9K −$1.01/SF
EGI
$268.4K $16.99/SF
− OpEx
−$80.5K −$5.10/SF
NOI
$187.9K $11.89/SF
Area
Killeen, TX
Vacancy
5.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,757,440
Cap Rate 7%
$2,683,886
Cap Rate 9%
$2,087,467
Alternative Uses
Best Use
Retail
$2.68M
$2.35M – $3.13M
NOI $187,872 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.79M
$3.32M – $4.43M
NOI $265,568 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,532
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Established multi-tenant retail property with open parking, monument signage, and a mix of service, food, and community-oriented occupants.
Where is this strip mall located?
The property is located at 202 E Veterans Memorial Boulevard Killeen, TX.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 15,795‑square‑foot retail strip center on a 0.9931‑acre site; Fully rented with four occupants: Corner Pocket Pool Hall, Papa Johns, a church, and Cloud Smoke and Vape; B‑5 zoning at 202 E Veterans Memorial Boulevard, Killeen, TX 76541
