Flex Space with High-Clearance
For Sale
$1,700,000
104 W Veterans Memorial Boulevard, Harker Heights, TX 76548
COMMERCIAL - Harker Heights, TX
Property Size8,600 SF
Lot Size0.65 Acres
Price / SF$197.67
Days on Market228
Property Features for 104 W Veterans Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-4
Parking features
Special Needs, Carport
Security features
Security
Interior features
Storage
Exterior features
Lighting, Storage
Accessibility
Accessible Approach with Ramp
Subdivision
Kern Acres 2nd Ext & Rev
Lot features
City Lot, Half To One Acre Lot, Sprinklers Automatic, Sprinklers In Ground, Sprinklers Multiple Locations
Directions
From I-14, exit for Veterans Memorial Blvd (Bus Hwy 190) in Harker Heights, follow Veterans Memorial for approximately 1.5 miles to the property.
Standard status
Active
APN
118033
Size
8,600 SF
Lot size
0.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
KERN ACRES 2ND EXTENSION & REVISION AMENDED (L 7-8,17-18 B1), BLOCK 001, LOT 007A, ACRES .65
Tax Annual Amount
9771
Legal Description
KERN ACRES 2ND EXTENSION & REVISION AMENDED (L 7-8,17-18 B1), BLOCK 001, LOT 007A, ACRES .65
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
reception and lobby
three dedicated offices
full kitchen and break area
two bathrooms
LED lighting
interior and exterior security cameras
landscaped and irrigated grounds
Building Details
Year built
2019
Floors in Building
1
Flooring type
Concrete, Carpet, Tile
Building materials
MetalFrame, MetalSiding, SteelFrame, StoneVeneer, SprayFoamInsulation
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Coldwell Banker Apex, Realtors
(254) 690-4321
Listed By:
Jean Shine · License #0282773
(254) 690-4321
Added: Jan 2
Changed: Aug 4
Last Checked: Aug 18 at 10:06PM
MLS# 600861
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 flex space is built for mixed business use, combining professional office space with a climate-controlled, foam-insulated warehouse. The total building size is 8,600 sq ft, including 2,600 sq ft of office and climate-controlled space and 6,000 sq ft of warehouse area. Covered parking and storage add another 1,200 sq ft.
The office features include a reception and lobby, three dedicated offices, and a full kitchen and break area with refrigerator, dishwasher, built-in oven, and pantry, plus two bathrooms with one providing direct warehouse access. LED lighting and interior and exterior security cameras support day-to-day operations.
Warehouse and yard capabilities include 15'-20' clear heights, three 12' overhead doors with automatic openers, and an 8-foot-tall fenced and gated storage yard with controlled access. The yard is designed to accommodate 18-wheelers for deliveries and distribution. The property is zoned B-4 and was built in 2019, with public water and public sewer services, central electric heating, and central air conditioning. Metal roof and spray foam insulation round out the construction package.
The office features include a reception and lobby, three dedicated offices, and a full kitchen and break area with refrigerator, dishwasher, built-in oven, and pantry, plus two bathrooms with one providing direct warehouse access. LED lighting and interior and exterior security cameras support day-to-day operations.
Warehouse and yard capabilities include 15'-20' clear heights, three 12' overhead doors with automatic openers, and an 8-foot-tall fenced and gated storage yard with controlled access. The yard is designed to accommodate 18-wheelers for deliveries and distribution. The property is zoned B-4 and was built in 2019, with public water and public sewer services, central electric heating, and central air conditioning. Metal roof and spray foam insulation round out the construction package.
Key Highlights
- 8,600 sq ft flex space with 2,600 sq ft office and 6,000 sq ft warehouse
- Foam‑insulated warehouse with 15'-20' clear heights and three 12' overhead doors with automatic openers
- 8‑foot‑tall fenced and gated storage yard with controlled access and 18‑wheeler delivery capability
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
3
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
288
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - B-4 zoned flex space with office buildout and a foam-insulated, high-clearance warehouse with fenced, gated storage yard.
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 sq ft flex space with 2,600 sq ft office and 6,000 sq ft warehouse; Foam‑insulated warehouse with 15'-20' clear heights and three 12' overhead doors with automatic openers; 8‑foot‑tall fenced and gated storage yard with controlled access and 18‑wheeler delivery capability
