Modern Harker Heights Flex
For Sale
$1,700,000
104 W VETERANS MEMORIAL HARKER HEIGHTS TX 76548, Harker Heights, TX 76548
Versatile commercial flex space with office and warehouse capabilities.
Property Size8,600 SF
Price / SF$197.67
Days on Market239
Property Features for 104 W VETERANS MEMORIAL HARKER HEIGHTS TX 76548
General Information
Standard status
Active
Size
8,600 SF
Property subtype
Commercial
Zoning
B-4
Building Details
Year Built
2019
Stories
1
Listing Agency:
Coldwell Banker Apex, Realtors
(254) 690-4321
Listed By:
Jean Shine · License #0282773
(254) 690-4321
Source:
Kwsanantonio
Added: Jan 2
Changed: Aug 23
Last Checked: Aug 29 at 5:54AM
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.
This 8,600 sq ft commercial flex space, constructed in 2019, is located along Business Hwy 190 in Harker Heights. The property is designed for efficiency, accessibility, and security, offering a combination of professional office space, climate-controlled storage, and high-clearance warehouse capabilities. The property includes 2,600 sq ft of office and climate-controlled space and 6,000 sq ft of secured and foam-insulated warehouse space. Additionally, there is 1,200 sq ft of covered parking or storage. The location provides access to major Central Texas hubs, including Harker Heights, Killeen, Nolanville, Belton, Temple, Copperas Cove, Georgetown, Round Rock, and Waco. This corridor supports high traffic visibility and efficient connectivity for logistics and clients. The property is suitable for growing businesses, distribution operations, service companies, or regional headquarters.
Key Highlights
- 8,600 sq ft commercial flex space built in 2019.
- 6,000 sq ft secured and foam insulated warehouse space.**
- 2,600 sq ft of office and climate‑controlled space.
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
$105,302
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
6.19%
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%
$2,106,040
$2.1M
Cap Rate 7%
$1,504,314
$1.5M
Cap Rate 9%
$1,170,022
$1.2M
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
$172.3K $20.04/SF
− Vacancy
−$10.3K −$1.20/SF
EGI
$162.0K $18.84/SF
− OpEx
−$56.7K −$6.59/SF
NOI
$105.3K $12.24/SF
Area
Bell County, TX
Vacancy
6.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
35.00%
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%
$2,106,040
Cap Rate 7%
$1,504,314
Cap Rate 9%
$1,170,022
Alternative Uses
Best Use
Flex RnD
$1.50M
$1.32M – $1.76M
NOI $105,302 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
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
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Balanced
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial flex space with office and warehouse capabilities.
Where is this flex space located?
The property is located at 104 W VETERANS MEMORIAL HARKER HEIGHTS TX 76548 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 commercial flex space built in 2019.; 6,000 sq ft secured and foam insulated warehouse space.**; 2,600 sq ft of office and climate‑controlled space.
