Improved Acreage with Multiple
For Sale
$1,200,000
14138 Highway 195, Killeen, TX 76542
9.28 acre property with multiple buildings and improvements.
Property Size12,695 SF
Lot Size9.28 Acres
Price / SF$240
Days on Market172
Property Features for 14138 Highway 195
General Information
Standard status
Active
Size
12,695 SF
Lot size
9.28 Acres
Property subtype
Commercial
Building Details
Building Size
12,695 SF
Year Built
2012
Stories
1
Listing Agency:
ERA Brokers Consolidated
(254) 702-3450
Listed By:
Jack Hemingway · License #0379647
(254) 702-3450
Source:
Elliman
Added: Mar 10
Changed: Aug 12
Last Checked: Aug 26 at 12:19PM
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 ERA Brokers Consolidated
Investment Insights
Based on property information with market context.
This 9.278 acre property features multiple improvements, including a 5,000 square foot building at the front with 16 offices, a break room, a conference room, a waiting area, a receptionist/accounting office, and two bathrooms. The front building also has 22 paved parking spaces. Further back on the property is a training building exceeding 4,000 square feet, which includes a breakroom/kitchen, 13 offices, a computer lab, two bathrooms, and a large room. Additionally, there is a 2,235 square foot house converted to accommodate 5 offices, meeting areas, and two bathrooms. A 1,400 square foot barn is also located on the property and has a power meter base for electricity.
Key Highlights
- 9.278 acre property with multiple buildings
- 5,000 sq ft building featuring 16 offices, conference room, break room, waiting area, receptionist area, and 2 bathrooms**
- 4,000+ sq ft training building with 13 offices, computer lab, breakroom/kitchen, and 2 bathrooms
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
$66,096
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
5.51%
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%
$1,321,920
$1.3M
Cap Rate 7%
$944,229
$944.2K
Cap Rate 9%
$734,400
$734.4K
Market Conditions
NOI Build-Up for 5,000 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
$108.0K $21.60/SF
− Vacancy
−$19.9K −$3.97/SF
EGI
$88.1K $17.63/SF
− OpEx
−$22.0K −$4.41/SF
NOI
$66.1K $13.22/SF
Area
Killeen, 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 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%
$1,321,920
Cap Rate 7%
$944,229
Cap Rate 9%
$734,400
Alternative Uses
Best Use
Office B
$944.2K
$826.2K – $1.10M
NOI $66,096 @ 7.0% cap · market cap 5.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,067 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 76542, TX
53,312
Population
21,027
Households
2.5
Avg Household Size
32
Median Age
29%
College-Educated
94%
High-School Grad
63.0 sq mi
ZIP Area
846
Density / Sq Mi
$72,891
Median Household Income
$42,506
Median Earnings
$1,237
Median Rent
$228,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 9.28 acre property with multiple buildings and improvements.
Where is this office building located?
The property is located at 14138 Highway 195 Killeen, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 9.278 acre property with multiple buildings; 5,000 sq ft building featuring 16 offices, conference room, break room, waiting area, receptionist area, and 2 bathrooms**; 4,000+ sq ft training building with 13 offices, computer lab, breakroom/kitchen, and 2 bathrooms
