Prime Commercial Building in
904 S Key Avenue Lampasas, TX 76550
904 S Key Avenue, Lampasas, TX, 76550
$475,000
For Sale
$475,000
Commercial building in high-traffic area, suitable for multiple businesses.
Property Size2,520 SF
Lot Size0.19 Acres
Price / SF$188.49
Days on Market743
Property Features for 904 S Key Avenue
General Information
- Standard status
- Active
- Size
- 2,520 SF
- Lot size
- 0.19 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1960
Listing agency
Bear Real Estate Services
(254) 315-8893
Listed by
Lacy Davidson · License #0647714
(254) 315-8893
Source
Exitrealty
Added: Jul 10, 2024 Updated: Jul 6 at 12:39PM Checked: Jul 22 at 9:43AM
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 building is located in Lampasas, benefiting from high vehicle and foot traffic and visibility from two major highways, 183 and 281. The property features 2520 square feet of space, divided into two separate lease spaces, each equipped with its own utilities. This layout is suitable for multiple businesses or a single large operation. The property includes a metal fence perimeter, ample parking, and an additional storage building in the back. This location may be suitable for entrepreneurs and businesses seeking a convenient and secure space.
Key Highlights
- Prime commercial location in the heart of Lampasas with high vehicle and foot traffic.
- Visibility from two major highways (183 and 281).
- 2520 sq ft space divided into two separate lease spaces, each with its own utilities.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $45.4k | $18.00 |
| − Vacancy | −$2.5k | −$1.01 |
| EGI | $42.8k | $16.99 |
| − OpEx | −$12.8k | −$5.10 |
| NOI | $30.0k | $11.89 |
2,520 SF · lease $18.00/SF/yr · vacancy 5.60% · expense 30.00%
Alternative Uses
Best Use
Retail
$428.2K
$374.7K – $499.6K
NOI $29,974 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$605.3K
$529.6K – $706.2K
NOI $42,370 @ 7.0% cap · market cap 8.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
El Frias
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Commercial building in high-traffic area, suitable for multiple businesses.
Where is this storefront property located?
The property is located at 904 S Key Avenue Lampasas, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Prime commercial location in the heart of Lampasas with high vehicle and foot traffic.; Visibility from two major highways (183 and 281).; 2520 sq ft space divided into two separate lease spaces, each with its own utilities.
