Flex Space with Secured
For Sale
$1,700,000
Pending
104 W Veterans Memorial Boulevard, Harker Heights, TX 76548
Built in 2019, the facility combines customer-facing offices, climate-controlled storage, and industrial workspace under one roof.
Property Size8,600 SF
Days on Market48
Property Features for 104 W Veterans Memorial Boulevard
General Information
Standard status
Pending
Size
8,600 SF
Zoning
B-4
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
20 ft
Warehouse Space
6,000 SF
Amenities
covered parking/storage
reception and lobby
three dedicated offices
full kitchen and break area
two bathrooms
LED lighting throughout
interior and exterior security cameras
landscaped and irrigated grounds
Building Details
Year Built
2019
Buildings
1
Building Size
8,600 SF
Listing Agency:
Coldwell Banker Apex, Realtors
Listed By:
Jean Shine · License #0282773
(254) 690-4321
Source:
Cornerstone-properties
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 4 at 11:30AM
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 Apex, Realtors
Investment Insights
Based on property information with market context.
Built in 2019, this flex facility contains 8,600 square feet divided between 2,600 square feet of office and climate-controlled space and 6,000 square feet of secured, foam-insulated warehouse area. The office component includes a reception and lobby, three private offices, a kitchen with break area and appliances, pantry, two bathrooms, LED lighting, and security cameras. One bathroom connects directly to the warehouse.
Warehouse clear heights range from 15 to 20 feet, with three 12-foot overhead doors equipped with automatic openers. The property also provides 1,200 square feet of covered parking or storage, an 8-foot fenced and gated yard with controlled access, and an 18-wheeler-accessible delivery area. Landscaped, irrigated grounds and B-4 zoning complete the offering at 104 W Veterans Memorial Boulevard in Harker Heights.
Warehouse clear heights range from 15 to 20 feet, with three 12-foot overhead doors equipped with automatic openers. The property also provides 1,200 square feet of covered parking or storage, an 8-foot fenced and gated yard with controlled access, and an 18-wheeler-accessible delivery area. Landscaped, irrigated grounds and B-4 zoning complete the offering at 104 W Veterans Memorial Boulevard in Harker Heights.
Key Highlights
- 8,600 SF building with 2,600 SF office and climate‑controlled space plus 6,000 SF warehouse
- 15’-20’ clear heights and three 12’ overhead doors with automatic openers
- 1,200 SF of covered parking/storage
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
$143,853
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
8.46%
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%
$2,877,060
$2.9M
Cap Rate 7%
$2,055,043
$2.1M
Cap Rate 9%
$1,598,367
$1.6M
Market Conditions
NOI Build-Up for 8,600 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
$264.2K $30.72/SF
− Vacancy
−$72.4K −$8.42/SF
EGI
$191.8K $22.30/SF
− OpEx
−$48.0K −$5.58/SF
NOI
$143.9K $16.73/SF
Area
Bell County, TX
Vacancy
27.40%
Lease Rate
$30.72 /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%
$2,877,060
Cap Rate 7%
$2,055,043
Cap Rate 9%
$1,598,367
Alternative Uses
Best Use
Office B
$2.06M
$1.80M – $2.40M
NOI $143,853 @ 7.0% cap · market cap 8.46%
Second Best
Flex RnD
$1.50M
$1.32M – $1.76M
NOI $105,302 @ 7.0% cap · market cap 6.19%
Theoretical Best
Multifamily LT 5
$96.01M
$84.01M – $112.01M
NOI $6,720,487 @ 7.0% cap · market cap 395.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76548, TX
32,714
Population
12,657
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
93%
High-School Grad
16.1 sq mi
ZIP Area
2,032
Density / Sq Mi
$80,847
Median Household Income
$44,090
Median Earnings
$1,113
Median Rent
$268,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Built in 2019, the facility combines customer-facing offices, climate-controlled storage, and industrial workspace under one roof.
Where is this flex space located?
The property is located at 104 W Veterans Memorial Boulevard Harker Heights, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 8,600 SF building with 2,600 SF office and climate‑controlled space plus 6,000 SF warehouse; 15’-20’ clear heights and three 12’ overhead doors with automatic openers; 1,200 SF of covered parking/storage
