Medical Office Building with
For Sale
$875,000
2206 E Central Texas Expressway, Killeen, TX 76543
CommercialSale, Killeen, TX
Property Size6,375 SF
Lot Size0.46 Acres
Price / SF$137.25
Days on Market36
Property Features for 2206 E Central Texas Expressway
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Special Needs
Interior features
Attic
Accessibility
Accessible Approach with Ramp
Subdivision
First Texas Add
Lot features
City Lot, Irregular Lot, Quarter To Half Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From W.S. Young, turn east on the access road and it is the second building on the right.
Standard status
Active
APN
131022
Size
6,375 SF
Lot size
0.46 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
FIRST TEXAS ADDITION, BLOCK 001, LOT 0003
Tax Annual Amount
13114
Legal Description
FIRST TEXAS ADDITION, BLOCK 001, LOT 0003
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
2
Flooring type
Laminate
Building materials
Frame, Masonry, Stone
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Jim Wright · License #0181945
(254) 289-3145
Added: Jul 25
Changed: Aug 20
Last Checked: Aug 29 at 4:06PM
MLS# 620732
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 6,375-square-foot medical office building sits on 0.4591 acres and was constructed in 1982. The interior includes multiple offices, a large lobby with reception space, laminate flooring, central electric heating and cooling, and an attic. The building also provides two ADA bathrooms and two additional bathrooms upstairs.
Located at 2206 E Central Texas Expressway in Killeen, the property offers access to I-14 and W.S.Young Drive. A freestanding 40' x 40' sign fronts I-14, while off-street parking includes special-needs spaces. The property is served by public water and public sewer and includes an accessible approach with ramp.
Located at 2206 E Central Texas Expressway in Killeen, the property offers access to I-14 and W.S.Young Drive. A freestanding 40' x 40' sign fronts I-14, while off-street parking includes special-needs spaces. The property is served by public water and public sewer and includes an accessible approach with ramp.
Key Highlights
- 6,375 SF medical office building on 0.4591 acres
- Multiple offices with a large lobby and reception area
- Two ADA bathrooms plus two additional upstairs bathrooms
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
$67,932
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
7.76%
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%
$1,358,640
$1.4M
Cap Rate 7%
$970,457
$970.5K
Cap Rate 9%
$754,800
$754.8K
Market Conditions
NOI Build-Up for 6,375 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
$122.4K $19.20/SF
− Vacancy
−$9.2K −$1.44/SF
EGI
$113.2K $17.76/SF
− OpEx
−$45.3K −$7.10/SF
NOI
$67.9K $10.66/SF
Area
Killeen, TX
Vacancy
7.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
40.00%
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%
$1,358,640
Cap Rate 7%
$970,457
Cap Rate 9%
$754,800
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,272 @ 7.0% cap · market cap 9.63%
Second Best
Healthcare Medical
$970.5K
$849.2K – $1.13M
NOI $67,932 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,186 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,129
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 76543, TX
30,545
Population
15,300
Households
2
Avg Household Size
30
Median Age
15%
College-Educated
91%
High-School Grad
35.6 sq mi
ZIP Area
858
Density / Sq Mi
$51,239
Median Household Income
$31,712
Median Earnings
$1,099
Median Rent
$140,700
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.
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- Animal Emergency Center of Killeen — 2808 illinois ave, killeen, tx 76543
Frequently Asked Questions
What type of property is this?
Medical Office Space - Accessible medical office with multiple offices, reception space, and off-street parking.
Where is this medical office space located?
The property is located at 2206 E Central Texas Expressway Killeen, TX.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 6,375 SF medical office building on 0.4591 acres; Multiple offices with a large lobby and reception area; Two ADA bathrooms plus two additional upstairs bathrooms
