Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    408 Arapaho Drive lot 5 Harker Heights, TX 76548

    View on Map
    Claim this Listing
    For Sale
    $83,900

    LAND - Harker Heights, TX

    Lot size:
    0.53 Acres
    Added:
    Jan 8, 2026
    Days on Market:
    109
    Last Refresh:
    Apr 27 at 4:06 am

    Property Features for 408 Arapaho Drive lot 5

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    16007
    Lot size
    0.53 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SKIPCHA MOUNTAIN ESTATES PHASE ONE, BLOCK 010, LOT 0005
    Tax Annual Amount
    953

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Raye Mayhorn

    Listing agent Raye Mayhorn License #0341222

    Listing office Realty Executives Of Killeen 2710 S Fort Hood Street, Killeen, TX

    Listing date Jan 8, 2026

    MLS# 600811 Listing URL

    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.

    Overview

    Residential Land in Harker Heights

    This residential land is located in Skipcha Mountain Estates in Harker Heights, Texas. Situated off Knights Way and Wampum Drive, the property offers convenient access to family amenities. The lot size is 0.5336 acres. The property is located in Bell County, with a Harker Heights postal code of 76548. According to the listing, construction of a new home could be completed before Christmas.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Harker Heights
    County
    Bell
    State
    Texas
    Longitude
    -97.667902
    Latitude
    31.063916

    Nearby Similar for Sale

    • $750,000
      3,390 SF

      Harker Heights Commercial Redevelopment Opportunity

      2.64-acre commercial property with redevelopment potential in Harker Heights, TX.
      1505 E Veterans Memorial Boulevard, Harker Heights, TX 76548
      View Details
    • $429,000
      1,425 SF

      Harker Heights Commercial Office Building

      Office building on FM 2410 with ample parking.
      1700 E FM 2410 Road, Harker Heights, TX 76548
      View Details
    • $750,000
      8,600 SF

      Harker Heights Commercial Investment Opportunity

      Commercial property with high visibility and income potential in Harker Heights.
      402 W Veterans Memorial Boulevard, Harker Heights, TX 76548
      View Details
    • $349,990
      2,646 SF

      Harker Heights Duplex Investment Opportunity

      Well-maintained duplex with tenant in place until August 2026.
      1402 Pima Trail, Harker Heights, TX 76548
      View Details
    • $1,700,000
      8,600 SF

      Versatile Commercial Flex Space

      Modern 8,600 sq ft flex space in Harker Heights.
      104 W Veterans Memorial Boulevard, Harker Heights, TX 76548
      View Details
    • $700,000
      4,200 SF

      Harker Heights Commercial Investment Opportunity

      High-traffic location, leased to sports bar, income-producing asset.
      302 W Veterans Memorial Boulevard, Harker Heights, TX 76548
      View Details
    • $340,000
      2,548 SF

      Harker Heights Duplex Investment Opportunity

      Income-producing duplex with 3 beds, 2 baths per unit.
      417 Clore Road, Harker Heights, TX 76548
      View Details
    • $375,000
      2,664 SF

      Harker Heights Duplex For Sale

      Well-maintained duplex with spacious layout, granite countertops, and covered patio.
      207 W Cardinal Lane, Harker Heights, TX 76548
      View Details
    • $325,000
      2,169 SF

      Harker Heights Duplex: Income Potential

      Well-maintained duplex with updated units, income potential in Harker Heights.
      1803 Aztec Trace, Harker Heights, TX 76548
      View Details
    • $339,000
      2,070 SF

      New Duplex Investment Opportunity

      New construction duplex in Harker Heights, estimated completion May 2026.
      209 Elbert Lane, Harker Heights, TX 76548
      View Details
    • $369,000
      2,336 SF

      Harker Heights Duplex For Sale

      Almost new duplex in Harker Heights with occupancy option.
      117 E Valley Road, Harker Heights, TX 76548
      View Details
    • $800,000
      6,011 SF

      Pet Hotel and Boarding Facility

      Commercial property converted into a fully operational pet hotel.
      628 E Veterans Memorial Boulevard, Harker Heights, TX 76548
      View Details

    FAQs

    What type of property is this?
    Land - Residential land available in Skipcha Mountain Estates, Harker Heights, TX.
    Where is this land located?
    The property is located at 408 Arapaho Drive lot 5 Harker Heights, TX.
    What is the asking price?
    The asking price for this property is $83,900.
    What are key features of this property?
    This property features: Last chance to build in Skipcha Mountain Estates.; Convenient location near Knights Way & Wampum Dr.; Easy access to family amenities.
    (254) 554-0708
    We can help!
    Listing Contact
    Raye Mayhorn
    Real Estate License ID: 0341222
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!