Equipped Auto Body
For Sale
$750,000
621 S 2nd Street, Killeen, TX 76541
Operational collision-repair facility with specialized improvements, office space, and equipment supporting immediate business use.
Property Size6,700 SF
Lot Size0.48 Acres
Price / SF$111.94
Days on Market10
Property Features for 621 S 2nd Street
General Information
Standard status
Active
Size
6,700 SF
Lot size
0.48 Acres
Property subtype
Commercial
Zoning
B-5
Additional Details
Asking Price
$750,000
Car Wash Bays
1
Amenities
paint booth
paint mixing room
wash bay
roll-up doors
compressed air distribution
heating and air filtration systems
Building Details
Building Size
6,700 SF
Year Built
1984
Buildings
1
Stories
1
Construction
metal frame
Listing Agency:
Coldwell Banker Apex, Realtors
(254) 690-4321
Listed By:
Jean Shine · License #0282773
Source:
Weselllampasas
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 25 at 9:31AM
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 auto body property includes a 6,700-square-foot metal-frame building on an approximately 0.48-acre lot. The facility is configured for collision repair and painting, with a 14½' x 24' paint booth, dedicated mixing room, wash bay, compressed-air distribution, and multiple heating and air-filtration systems. Eight roll-up doors support vehicle movement through the building, while the site provides parking and circulation areas.
The property also contains 440 square feet of office space arranged as three private offices for administrative, estimating, and customer-facing functions. Conveying equipment includes frame machines, welders, compressors, paint systems, and other professional-grade shop equipment. Located at 621 S 2nd Street in Killeen, the facility serves the Fort Hood trade area within Central Texas.
The property also contains 440 square feet of office space arranged as three private offices for administrative, estimating, and customer-facing functions. Conveying equipment includes frame machines, welders, compressors, paint systems, and other professional-grade shop equipment. Located at 621 S 2nd Street in Killeen, the facility serves the Fort Hood trade area within Central Texas.
Key Highlights
- 6,700± SF metal‑frame automotive facility on a ±0.48‑acre lot
- 14½' x 24' paint booth with dedicated paint mixing room
- Eight roll‑up doors, wash bay, and compressed‑air distribution
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
$42,323
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
5.64%
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%
$846,460
$846.5K
Cap Rate 7%
$604,614
$604.6K
Cap Rate 9%
$470,256
$470.3K
Market Conditions
NOI Build-Up for 6,700 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
$64.3K $9.60/SF
− Vacancy
−$3.9K −$0.58/SF
EGI
$60.5K $9.02/SF
− OpEx
−$18.1K −$2.71/SF
NOI
$42.3K $6.32/SF
Area
Killeen, TX
Vacancy
6.00%
Lease Rate
$9.60 /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%
$846,460
Cap Rate 7%
$604,614
Cap Rate 9%
$470,256
Alternative Uses
Best Use
Retail
$1.14M
$996.2K – $1.33M
NOI $79,692 @ 7.0% cap · market cap 10.63%
Second Best
Industrial
$604.6K
$529.0K – $705.4K
NOI $42,323 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,650 @ 7.0% cap · market cap 15.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,306
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Operational collision-repair facility with specialized improvements, office space, and equipment supporting immediate business use.
Where is this auto shop located?
The property is located at 621 S 2nd Street Killeen, TX.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 6,700± SF metal‑frame automotive facility on a ±0.48‑acre lot; 14½' x 24' paint booth with dedicated paint mixing room; Eight roll‑up doors, wash bay, and compressed‑air distribution
