Multi-Tenant Retail
For Sale
$1,400,000
3000 Old Fm 440 Road, Killeen, TX 76549
Established multi-tenant center serving a densely populated residential area.
Property Size8,580 SF
Lot Size0.68 Acres
Price / SF$159.09
Days on Market21
Property Features for 3000 Old Fm 440 Road
General Information
Standard status
Active
Size
8,580 SF
Lot size
0.68 Acres
Property subtype
Commercial
Building Details
Building Size
8,580 SF
Year Built
2008
Stories
1
Tenancy
Multi
Listing Agency:
DHS Realty
(254) 616-0415
Listed By:
Saira Khan · License #0776630
Source:
Weselllampasas
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 29 at 3:59PM
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 DHS Realty
Investment Insights
Based on property information with market context.
This shopping center contains 8,800 square feet of retail space across multiple tenant suites. Built in 2008, the property occupies 0.68 acres and is currently leased on a gross basis. Its configuration supports a range of retail occupants within a single commercial property.
The center is located on Old FM 440 Road in Killeen, approximately three miles west of the retail corridor along the East Central Texas Expressway. More than 141,200 residents are located within a five-mile radius, and nearby educational facilities add to the surrounding activity. National and regional retailers are established in the broader trade area, while Killeen Mall—with more than 100 stores and anchors including Dillard’s, JCPenney, and Burlington—is positioned north of the expressway.
The center is located on Old FM 440 Road in Killeen, approximately three miles west of the retail corridor along the East Central Texas Expressway. More than 141,200 residents are located within a five-mile radius, and nearby educational facilities add to the surrounding activity. National and regional retailers are established in the broader trade area, while Killeen Mall—with more than 100 stores and anchors including Dillard’s, JCPenney, and Burlington—is positioned north of the expressway.
Key Highlights
- 8,800‑square‑foot multi‑tenant retail center
- 0.68‑acre property built in 2008
- Current leases operate on a gross basis
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
$104,671
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
7.48%
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%
$2,093,420
$2.1M
Cap Rate 7%
$1,495,300
$1.5M
Cap Rate 9%
$1,163,011
$1.2M
Market Conditions
NOI Build-Up for 8,800 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
$158.4K $18.00/SF
− Vacancy
−$8.9K −$1.01/SF
EGI
$149.5K $16.99/SF
− OpEx
−$44.9K −$5.10/SF
NOI
$104.7K $11.89/SF
Area
Killeen, TX
Vacancy
5.60%
Lease Rate
$18.00 /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%
$2,093,420
Cap Rate 7%
$1,495,300
Cap Rate 9%
$1,163,011
Alternative Uses
Best Use
Retail
$1.50M
$1.31M – $1.74M
NOI $104,671 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $147,958 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
448
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- KBS food mart Plaza — 3000 Old FM 440 Rd, Killeen, TX 76549
Frequently Asked Questions
What type of property is this?
Shopping center - Established multi-tenant center serving a densely populated residential area.
Where is this shopping center located?
The property is located at 3000 Old Fm 440 Road Killeen, TX.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8,800‑square‑foot multi‑tenant retail center; 0.68‑acre property built in 2008; Current leases operate on a gross basis
