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    Prime Commercial Building in Lampasas

    904 S Key Ave Lampasas, TX 76550

    Claim this Listing
    For Sale
    $475,000

    COMMERCIAL - Lampasas, TX

    Property size:
    2,520 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $188.49/SF
    Added:
    Nov 12, 2024
    Days on Market:
    609
    Last Refresh:
    Jul 14 at 6:06 am

    Property Features for 904 S Key Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking
    10
    Standard status
    Active
    APN
    001286
    Size
    2,520 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Description
    LOT: W59 L3 W59 OF N16 OF LOT 2 BLK: 27 ADDN: L S C 1ST

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Number of units
    1
    Flooring type
    Laminate

    Listing agent Audrey Bear License #0516346

    Listing office Bear Real Estate Services 405 E. 3rd Street, LAMPASAS, TX

    Listing date Nov 12, 2024

    MLS# 171046

    Copyright © 2026 Highland Lakes Association of Realtors MLS. 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 commercial building is located in Lampasas, Texas, and benefits from high vehicle and foot traffic due to its visibility from Highways 183 and 281. The building offers 2520 square feet of space, divided into two separate lease spaces, each equipped with its own utilities. This layout is suitable for multiple businesses or a single large operation. The property includes a metal fence perimeter, ample parking, and an additional storage building in the back. The lot size is 0.19 acres.

    Key Highlights

    • Prime commercial location in the heart of Lampasas with high vehicle and foot traffic and visibility from two major highways (183 and 281).
    • 2520 sq ft space divided into two separate lease spaces, each with its own utilities.
    • Ample parking available.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $45.4k $18.00
    − Vacancy −$2.5k −$1.01
    EGI $42.8k $16.99
    − OpEx −$12.8k −$5.10
    NOI $30.0k $11.89
    2,520 SF · lease $18.00/SF/yr · vacancy 5.60% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $428.2K
    $374.7K – $499.6K (±1% cap)
    NOI $29,974 @ 7.0% cap · market cap 6.31%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $605.3K
    $529.6K – $706.2K (±1% cap)
    NOI $42,370 @ 7.0% cap · market cap 8.92%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    El Frias Restaurant

    Suggested Use

    Real Estate Agency Parking Lot & Garage Law Firm HVAC Service Furniture & Home Goods Plumbing Service Skin Care Clinic (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Garden Center

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

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    FAQs

    What type of property is this?
    Storefront property - Commercial building in the heart of Lampasas with high visibility.
    Where is this storefront property located?
    The property is located at 904 S Key Ave Lampasas, TX.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Prime commercial location in the heart of Lampasas with high vehicle and foot traffic and visibility from two major highways (183 and 281).; 2520 sq ft space divided into two separate lease spaces, each with its own utilities.; Ample parking available.
    Contact an agent
    (512) 525-9321
    We can help!
    Contact an agent
    Audrey Bear
    Audrey Bear
    Real Estate License ID: 0516346
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