Prime Commercial Building in
904 S Key Avenue Lampasas, TX 76550
904 S Key Avenue, Lampasas, TX, 76550
$475,000
For Sale
$475,000
COMMERCIAL - Lampasas, TX
Property Size2,520 SF
Lot Size0.19 Acres
Price / SF$188.49
Days on Market744
Property Features for 904 S Key Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 1286 & 1287
- Size
- 2,520 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- LOT: W59 L3 W59 OF N16 OF LOT 2 BLK: 27 ADDN: L S C 1ST
- Tax Annual Amount
- 2608
Utilities
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1960
- Floors in Building
- 1
- Flooring type
- Laminate
- Building materials
- Brick, Block, Concrete
- Roof type
- Flat
Listing agency
Bear Real Estate Services
(512) 556-9321
Listed by
Lacy Davidson · License #0647714
(254) 315-8893
Added: Jul 9, 2024 Updated: May 14 at 1:49AM Checked: Jul 22 at 5:06PM
MLS# 550050
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 commercial building, located in the heart of Lampasas, offers high vehicle and foot traffic with visibility from two major highways, 183 and 281. The property features a 2520 square foot 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 0.187 acres.
Key Highlights
- Prime commercial location in the heart of Lampasas with high vehicle and foot traffic.
- Enjoy visibility from two major highways (183 and 281).
- 2520 sq ft space divided into two separate lease spaces, each with its own utilities.
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
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
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
Similar For Sale Nearby
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 Avenue 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.; Enjoy visibility from two major highways (183 and 281).; 2520 sq ft space divided into two separate lease spaces, each with its own utilities.
