Four-Unit Residential Income
For Sale
$420,000
1200 Industrial Blvd, Killeen, TX 76549
Three residences are leased, while the fourth is vacant and has a rental history.
Property Size3,600 SF
Price / SF$116.67
Days on Market10
Property Features for 1200 Industrial Blvd
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1999
Listing Agency:
Full Circle RE
Listed By:
Pratik Patel · License #0832283
(913) 284-9662
Source:
Northtexashomeguide
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 2:40PM
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 Full Circle RE
Investment Insights
Based on property information with market context.
This four-unit residential income property contains 3,600 square feet and was built in 1999. Three units are leased; the remaining unit is vacant and has previously been rented.
The property is at 1200 Industrial Blvd in Killeen, near Fort Cavazos, shopping, dining, and employment destinations.
The property is at 1200 Industrial Blvd in Killeen, near Fort Cavazos, shopping, dining, and employment destinations.
Key Highlights
- Four rental units
- 3,600 square feet of building area
- Built in 1999
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
$31,115
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
7.41%
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%
$622,300
$622.3K
Cap Rate 7%
$444,500
$444.5K
Cap Rate 9%
$345,722
$345.7K
Market Conditions
NOI Build-Up for 3,600 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
$47.5K $13.20/SF
− Vacancy
−$3.1K −$0.85/SF
EGI
$44.5K $12.35/SF
− OpEx
−$13.3K −$3.70/SF
NOI
$31.1K $8.64/SF
Area
Killeen, TX
Vacancy
6.46%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$622,300
Cap Rate 7%
$444,500
Cap Rate 9%
$345,722
Alternative Uses
Best Use
Multifamily LT 5
$444.5K
$388.9K – $518.6K
NOI $31,115 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$411.3K
$359.9K – $479.8K
NOI $28,788 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$864.7K
$756.6K – $1.01M
NOI $60,528 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three residences are leased, while the fourth is vacant and has a rental history.
Where is this quadplex located?
The property is located at 1200 Industrial Blvd 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: Four rental units; 3,600 square feet of building area; Built in 1999
