New Commercial Flex Space with Overhead
For Sale
$420,000
10378 Oakalla Road, Killeen, TX 76549
COMMERCIAL - Killeen, TX
Property Size2,400 SF
Lot Size0.89 Acres
Price / SF$175
Days on Market93
Property Features for 10378 Oakalla Road
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Parking features
Oversize
Subdivision
Elisha Vie Surv Abs #470
Lot features
City Lot, Half To One Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From I-14 in Killeen: Hwy 201 (Clear Creek Rd) south - R on Reese Creek Rd - L on Oakalla - building is on the left immediately after leaving Ft. Hood property and crossing the cattle guard. From I-14 in Copperas Cove: FM 116 South (aka Ivy Gap Rd) - L on Oakalla - building is on your right just before the cattle guard. From Leander: Hwy 183 - R on 2657 in Briggs - R on CR 221 (becomes Oakalla)
Standard status
Active
APN
125425
Size
2,400 SF
Lot size
0.89 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
A0470BC ELISHA IVIE, 1-1, ACRES .89
Tax Annual Amount
1305
Legal Description
A0470BC ELISHA IVIE, 1-1, ACRES .89
Utilities
Sewer type
Aerobic Septic, Septic Tank, Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Private, Well
Building Details
Year built
2025
Floors in Building
1
Flooring type
Vinyl, Concrete, Carpet
Building materials
Glass, MetalFrame, MetalSiding, SteelFrame, SprayFoamInsulation
Roof type
Metal
Listing Agency:
Coldwell Banker Apex, Realtors
(254) 690-4321
Listed By:
Jean Shine · License #0282773
(254) 690-4321
Added: May 12
Changed: Aug 4
Last Checked: Aug 12 at 11:06PM
MLS# 613338
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.
New commercial flex space under construction at 10378 Oakalla Road, Killeen, TX, offering 2,400 square feet of total space configured as 1,200 square feet of warehouse space and 1,200 square feet of heated and cooled flex space. The warehouse includes a 14' overhead bay door, and the heated and cooled portion is designed for office, showroom, or workspace use. The facility is spray foam insulated and features energy-efficient LED lighting throughout, along with a bathroom and kitchen.
The property sits on a 0.89-acre site that provides ample parking and maneuvering room, with semi-truck accessibility. It includes multiple 4' exterior walk doors that support pallet-friendly convenience and workflow. The building is positioned directly adjacent to Fort Hood Military Base and is outside city limits, with no zoning restrictions. Utilities are supported by well water and private water service, with public sewer and septic tank systems listed.
Built in 2025, the structure uses metal framing and metal siding with a metal roof, including glass elements. Flooring includes carpet, vinyl, and concrete, and heating and cooling are provided via central systems with electric heating and central air conditioning.
The property sits on a 0.89-acre site that provides ample parking and maneuvering room, with semi-truck accessibility. It includes multiple 4' exterior walk doors that support pallet-friendly convenience and workflow. The building is positioned directly adjacent to Fort Hood Military Base and is outside city limits, with no zoning restrictions. Utilities are supported by well water and private water service, with public sewer and septic tank systems listed.
Built in 2025, the structure uses metal framing and metal siding with a metal roof, including glass elements. Flooring includes carpet, vinyl, and concrete, and heating and cooling are provided via central systems with electric heating and central air conditioning.
Key Highlights
- 2,400 sq. ft. commercial flex space with 1,200 sq. ft. warehouse plus 1,200 sq. ft. heated and cooled flex space
- 14' overhead bay door in the warehouse area for loading and distribution
- 0.89‑acre site with ample parking and maneuvering room, semi‑truck accessible
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
$31,726
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
7.55%
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%
$634,520
$634.5K
Cap Rate 7%
$453,229
$453.2K
Cap Rate 9%
$352,511
$352.5K
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
$51.8K $21.60/SF
− Vacancy
−$9.5K −$3.97/SF
EGI
$42.3K $17.63/SF
− OpEx
−$10.6K −$4.41/SF
NOI
$31.7K $13.22/SF
Area
Killeen, TX
Vacancy
18.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$634,520
Cap Rate 7%
$453,229
Cap Rate 9%
$352,511
Alternative Uses
Best Use
Office B
$453.2K
$396.6K – $528.8K
NOI $31,726 @ 7.0% cap · market cap 7.55%
Second Best
Warehouse
$246.5K
$215.7K – $287.6K
NOI $17,258 @ 7.0% cap · market cap 4.11%
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
Lease Details
1
Drive-in doors
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - New flex space combines heated and cooled office area with warehouse operations and overhead bay access.
Where is this flex space located?
The property is located at 10378 Oakalla Road 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: 2,400 sq. ft. commercial flex space with 1,200 sq. ft. warehouse plus 1,200 sq. ft. heated and cooled flex space; 14' overhead bay door in the warehouse area for loading and distribution; 0.89‑acre site with ample parking and maneuvering room, semi‑truck accessible
