Auto Body Facility with Paint
For Sale
$750,000
621 S 2nd Street, Killeen, TX 76541
CommercialSale, Killeen, TX
Property Size6,700 SF
Lot Size0.48 Acres
Price / SF$111.94
Days on Market159
Property Features for 621 S 2nd Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-5
Subdivision
Killeen Paint & Body Add
Lot features
City Lot, Quarter To Half Acre Lot
Directions
From I-14, exit Trimmier Rd and head North on Trimmier. Turn left on Hallmark Ave. Turn right on 2nd St. Building will be on your left.
Standard status
Active
APN
332687
Size
6,700 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KILLEEN PAINT & BODY ADDITION, BLOCK 001, LOT 0001, ACRES .48
Tax Annual Amount
3344
Legal Description
KILLEEN PAINT & BODY ADDITION, BLOCK 001, LOT 0001, ACRES .48
Utilities
Sewer type
Public Sewer
Heating system
Space Heater, Central
Cooling system
Central Air
Water source
Public
Amenities
paint booth
paint mixing room
wash bay
eight roll-up doors
compressed air distribution
heating and air filtration systems
offices
Building Details
Year built
1984
Floors in Building
1
Flooring type
Carpet, Linoleum, Concrete
Building materials
MetalFrame, MetalSiding, SteelFrame
Roof type
Metal
Listing Agency:
Coldwell Banker Apex, Realtors
(254) 690-4321
Listed By:
Jean Shine · License #0282773
(254) 690-4321
Added: Mar 25
Changed: Aug 20
Last Checked: Aug 30 at 8:06AM
MLS# 608398
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 operational collision repair and paint facility includes a 6,700+/- SF metal-frame building on a +/-0.48-acre lot. Improvements include a 14 x 24' paint booth, paint mixing room, wash bay, compressed-air distribution, eight (8) roll-up doors, heating systems, and air filtration equipment. Conveying equipment includes frame machines, welders, compressors, paint systems, and other professional-grade shop equipment. The building also provides 440 SF of office space with three private offices, along with concrete, carpet, and linoleum flooring.
The property is located at 621 S 2nd Street in Killeen, Texas, within the Fort Hood trade area. Public water and public sewer serve the site, and the building has central heating and cooling supplemented by space heaters. Constructed in 1984, the property is zoned B-5 and includes on-site parking and vehicle circulation areas.
The property is located at 621 S 2nd Street in Killeen, Texas, within the Fort Hood trade area. Public water and public sewer serve the site, and the building has central heating and cooling supplemented by space heaters. Constructed in 1984, the property is zoned B-5 and includes on-site parking and vehicle circulation areas.
Key Highlights
- 6,700+/- SF metal‑frame building on a +/-0.48‑acre lot
- 14 x 24' paint booth with separate paint mixing room
- Eight (8) roll‑up doors and dedicated wash bay
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
$42,323
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
5.64%
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%
$846,460
$846.5K
Cap Rate 7%
$604,614
$604.6K
Cap Rate 9%
$470,256
$470.3K
Market Conditions
NOI Build-Up for 6,700 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
$64.3K $9.60/SF
− Vacancy
−$3.9K −$0.58/SF
EGI
$60.5K $9.02/SF
− OpEx
−$18.1K −$2.71/SF
NOI
$42.3K $6.32/SF
Area
Killeen, TX
Vacancy
6.00%
Lease Rate
$9.60 /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%
$846,460
Cap Rate 7%
$604,614
Cap Rate 9%
$470,256
Alternative Uses
Best Use
Retail
$1.14M
$996.2K – $1.33M
NOI $79,692 @ 7.0% cap · market cap 10.63%
Second Best
Industrial
$604.6K
$529.0K – $705.4K
NOI $42,323 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,650 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Well-served
Demand for This Use
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Operational collision repair property with dedicated offices, specialized equipment, and multiple service areas.
Where is this auto shop located?
The property is located at 621 S 2nd Street Killeen, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 6,700+/- SF metal‑frame building on a +/-0.48‑acre lot; 14 x 24' paint booth with separate paint mixing room; Eight (8) roll‑up doors and dedicated wash bay
