Commercial Flex Space Near Fort
For Sale
$420,000
10378 Oakalla Rd, Killeen, TX 76549
New commercial flex space adjacent to Ft. Hood Military Base.
Property Size2,400 SF
Lot Size0.89 Acres
Price / SF$175
Days on Market91
Property Features for 10378 Oakalla Rd
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.89 Acres
Property subtype
Commercial
Building Details
Building Size
2,400 SF
Year Built
2025
Stories
1
Listing Agency:
Coldwell Banker Realty
(254) 289-9861
Listed By:
Scott Shine · License #0282773
(254) 289-9861
Source:
Elliman
Added: May 15
Changed: Aug 8
Last Checked: Aug 8 at 7:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This commercial flex space offers a combination of office and warehouse functionality. The property contains 2,400 sq. ft. of space, with 1,200 sqft designated as warehouse space featuring a 14’ overhead bay door, and 1,200 sqft of heated and cooled flex space suitable for offices, showrooms, or workspace. The property is situated on a 0.89-acre site, providing ample parking and maneuvering room with semi-truck accessibility. Located outside city limits, the property has no zoning restrictions. Multiple 4’ exterior walk doors provide pallet-friendly convenience and functionality. Energy-efficient LED lighting is installed throughout the property. A bathroom and kitchen are included. The flex space is spray foam insulated for energy efficiency. The property is move-in ready. It is located directly adjacent to Ft. Hood Military Base and is regionally convenient to Killeen, Copperas Cove, Harker Heights, Belton, Temple, Leander, Cedar Park, Liberty Hill, Georgetown and Austin.
Key Highlights
- Directly adjacent to Ft. Hood Military Base, providing access to a large customer base and workforce.
- 2,400 sq. ft. of flexible space with 1,200 sqft warehouse and 1,200 sqft heated/cooled flex space.
- Located outside city limits with no zoning restrictions, offering business operational freedom.
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
$17,258
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
4.11%
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%
$345,160
$345.2K
Cap Rate 7%
$246,543
$246.5K
Cap Rate 9%
$191,756
$191.8K
Market Conditions
NOI Build-Up for 2,400 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
$21.6K $9.00/SF
− Vacancy
−$1.3K −$0.54/SF
EGI
$20.3K $8.46/SF
− OpEx
−$3.0K −$1.27/SF
NOI
$17.3K $7.19/SF
Area
Killeen, TX
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$345,160
Cap Rate 7%
$246,543
Cap Rate 9%
$191,756
Alternative Uses
Best Use
Warehouse
$246.5K
$215.7K – $287.6K
NOI $17,258 @ 7.0% cap · market cap 4.11%
Second Best
Flex RnD
$225.0K
$196.9K – $262.6K
NOI $15,753 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$576.5K
$504.4K – $672.5K
NOI $40,352 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76549, TX
56,199
Population
21,794
Households
2.6
Avg Household Size
29
Median Age
23%
College-Educated
95%
High-School Grad
94.1 sq mi
ZIP Area
597
Density / Sq Mi
$62,536
Median Household Income
$36,340
Median Earnings
$1,363
Median Rent
$202,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - New commercial flex space adjacent to Ft. Hood Military Base.
Where is this flex space located?
The property is located at 10378 Oakalla Rd Killeen, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Directly adjacent to Ft. Hood Military Base, providing access to a large customer base and workforce.; 2,400 sq. ft. of flexible space with **1,200 sqft warehouse and 1,200 sqft heated/cooled flex space**.; Located outside city limits with no zoning restrictions, offering business operational freedom.
