Commercial Office Building For
For Sale
$690,000
408 N Key Ave, Lampasas, TX 76550
Commercial office building featuring four offices, reception, and kitchenette.
Property Size2,331 SF
Price / SF$296.01
Days on Market557
Property Features for 408 N Key Ave
General Information
Standard status
Active
Size
2,331 SF
Property subtype
Commercial
Building Details
Year Built
1997
Listing Agency:
Bear Real Estate Services
Listed By:
Audrey Bear · License #0516346
(512) 556-9321
Source:
Granburyhomefinder
Added: Apr 6, 2025
Changed: Oct 1
Last Checked: Oct 12 at 8:24PM
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 Bear Real Estate Services
Investment Insights
Based on property information with market context.
This commercial office building features four offices, a reception area, and a kitchenette. It is situated on a corner lot along Key Avenue, a busy thoroughfare. A covered carport is located at the rear of the property. The building also includes a covered front porch and ample parking space. Currently, the property is leased to an insurance company.
Key Highlights
- Leased to Insurance Company, offering immediate income.
- High‑traffic corner lot on Key Ave.
- Features four offices, reception area, and kitchenette.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,814
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,280
$616.3K
Cap Rate 7%
$440,200
$440.2K
Cap Rate 9%
$342,378
$342.4K
Market Conditions
NOI Build-Up for 2,331 SF
Gross rent
$50.3K $21.60/SF
− Vacancy
−$9.3K −$3.97/SF
EGI
$41.1K $17.63/SF
− OpEx
−$10.3K −$4.41/SF
NOI
$30.8K $13.22/SF
Area
Lampasas County, 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 Rate 5%
$616,280
Cap Rate 7%
$440,200
Cap Rate 9%
$342,378
Alternative Uses
Best Use
Office B
$440.2K
$385.2K – $513.6K
NOI $30,814 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$559.9K
$489.9K – $653.2K
NOI $39,192 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 76550, TX
12,840
Population
6,129
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
541.5 sq mi
ZIP Area
24
Density / Sq Mi
$73,697
Median Household Income
$34,970
Median Earnings
$902
Median Rent
$237,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Commercial office building featuring four offices, reception, and kitchenette.
Where is this office building located?
The property is located at 408 N Key Ave Lampasas, TX.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: Leased to Insurance Company, offering immediate income.; High‑traffic corner lot on Key Ave.; Features four offices, reception area, and kitchenette.
