Two-Story Office Building in
1305 S Key Avenue Lampasas, TX 76550
For Sale
$1,600,000
20,000 SF office building with highway frontage and parking.
Property Size20,000 SF
Price / SF$80
Days on Market94
Property Features for 1305 S Key Avenue
General Information
- Standard status
- Active
- Size
- 20,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1990
Listing Agency:
TEXAS REAL ESTATE SALES
(512) 556-9090
Listed By:
Leah Caruthers · License #0561403
(512) 556-9090
Source:
Signaturere
Added: Apr 22
Changed: Jul 10
Last Checked: Jul 23 at 7:17AM
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 TEXAS REAL ESTATE SALES
Investment Insights
Based on property information with market context.
This 20,000 square-foot two-story office building is located in Lampasas, Texas. The property benefits from its location on a three-highway corridor, with Highways 281, 183, and 190 flowing through the area. The site has a Texdot car count of 15,720 and 200 feet of highway frontage. Situated on a corner lot, the property is near the intersection of Highway 190 and the connection route to Highway 281. The building currently houses several tenants and has space for more. An oversized parking lot provides ample parking or additional building space. The seller owns additional land across the side street that can be purchased.
Key Highlights
- Located on a three‑highway corridor (Highway 281, Highway 183, and Highway 190) in Lampasas, Texas.
- High traffic count of 15,720 vehicles per day (Texdot).
- 200 feet of highway frontage on a corner lot.
Financial Insights For Industrial
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 | $192.0k | $9.60 |
| − Vacancy | −$11.5k | −$0.58 |
| EGI | $180.5k | $9.02 |
| − OpEx | −$54.1k | −$2.71 |
| NOI | $126.3k | $6.32 |
20,000 SF · lease $9.60/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$3.78M
$3.30M – $4.41M
NOI $264,384 @ 7.0% cap · market cap 16.52%
Second Best
Retail
$3.40M
$2.97M – $3.96M
NOI $237,888 @ 7.0% cap · market cap 14.87%
Theoretical Best
Office A
$4.80M
$4.20M – $5.60M
NOI $336,269 @ 7.0% cap · market cap 21.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Texas Animal Health ...
Veterinary Clinic
Southern Star Communications, ...
Telecommunications Service
WIC
Social Service Agency
Diversified Insurance Brokerage ...
Insurance Agency
Lampasas MHMR - Central ...
Crisis Center
FAQs
What type of property is this?
Office building - 20,000 SF office building with highway frontage and parking.
Where is this office building located?
The property is located at 1305 S Key Avenue Lampasas, TX.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Located on a three‑highway corridor (Highway 281, Highway 183, and Highway 190) in Lampasas, Texas.; High traffic count of 15,720 vehicles per day (Texdot).; **200 feet of highway frontage on a corner lot.**
