B-5 Zoned Retail
For Sale
$750,000
1505 E Veterans Memorial Boulevard, Harker Heights, TX 76548
COMMERCIAL - Harker Heights, TX
Property Size3,390 SF
Lot Size2.65 Acres
Price / SF$221.24
Days on Market258
Property Features for 1505 E Veterans Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-5
Parking features
Special Needs
Subdivision
Collins Sub
Lot features
One To Three Acres, Alley, City Lot, Level
Directions
From the corner of Roy Reynolds and E. Veterans Memorial Blvd., head east for approximately 2 miles. The property will be on your left at 1505 E. Veterans Memorial Blvd. If you need further assistance, please call the broker for more detailed directions.
Standard status
Active
APN
131673
Size
3,390 SF
Lot size
2.65 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
COLLINS SUBDIVISION, BLOCK 002, LOT PT BLK, ACRES 2.647
Tax Annual Amount
10846
Legal Description
COLLINS SUBDIVISION, BLOCK 002, LOT PT BLK, ACRES 2.647
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1978
Floors in Building
1
Flooring type
Concrete
Building materials
AluminumSiding, MetalFrame, MetalSiding
Roof type
Flat, Metal
Listing Agency:
John Reider Properties II, Ltd
(254) 699-8300
Listed By:
John Reider · License #0345039
(254) 289-2400
Added: Dec 3, 2025
Changed: Aug 4
Last Checked: Aug 18 at 11:06PM
MLS# 599215
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Retail space at 1505 E Veterans Memorial Boulevard in Harker Heights, TX, zoned B-5. The property was formerly operated as a club and can be repurposed for a variety of commercial concepts, depending on redevelopment and business needs. The building features concrete flooring and a flat metal roof, with aluminum siding, a metal frame, and metal siding.
The site totals 2.647 acres and is positioned for visibility along E. Veterans Memorial Blvd, with access described as just minutes from I-14. Public utilities are available, including public water and public sewer. Heating and cooling are provided by central and electric systems.
Additional physical considerations include special-needs parking on site, plus a construction profile consistent with the property’s 1978 build year.
The site totals 2.647 acres and is positioned for visibility along E. Veterans Memorial Blvd, with access described as just minutes from I-14. Public utilities are available, including public water and public sewer. Heating and cooling are provided by central and electric systems.
Additional physical considerations include special-needs parking on site, plus a construction profile consistent with the property’s 1978 build year.
Key Highlights
- B‑5 zoned retail space at 1505 E Veterans Memorial Boulevard
- 2.647‑acre lot with visibility along E. Veterans Memorial Blvd
- Just minutes from I‑14, with described strong accessibility
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
$45,918
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
6.12%
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%
$918,360
$918.4K
Cap Rate 7%
$655,971
$656.0K
Cap Rate 9%
$510,200
$510.2K
Market Conditions
NOI Build-Up for 3,390 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
$69.6K $20.52/SF
− Vacancy
−$4.0K −$1.17/SF
EGI
$65.6K $19.35/SF
− OpEx
−$19.7K −$5.81/SF
NOI
$45.9K $13.55/SF
Area
Bell County, TX
Vacancy
5.70%
Lease Rate
$20.52 /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%
$918,360
Cap Rate 7%
$655,971
Cap Rate 9%
$510,200
Alternative Uses
Best Use
Retail
$656.0K
$574.0K – $765.3K
NOI $45,918 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$37.84M
$33.11M – $44.15M
NOI $2,649,122 @ 7.0% cap · market cap 353.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Home Improvements & Furnishings 37%
Shogun
Dining
1,285 visits/mo
0.3 miles
United Rentals
Home Improvements & Furnishings
749 visits/mo
0.5 miles
Demographics for 76548, TX
32,714
Population
12,657
Households
2.6
Avg Household Size
34
Median Age
32%
College-Educated
93%
High-School Grad
16.1 sq mi
ZIP Area
2,032
Density / Sq Mi
$80,847
Median Household Income
$44,090
Median Earnings
$1,113
Median Rent
$268,000
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.
Frequently Asked Questions
What type of property is this?
Retail space - B-5 zoned retail space with central electric HVAC, public water and sewer, and special-needs parking.
Where is this retail space located?
The property is located at 1505 E Veterans Memorial Boulevard Harker Heights, 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: B‑5 zoned retail space at 1505 E Veterans Memorial Boulevard; 2.647‑acre lot with visibility along E. Veterans Memorial Blvd; Just minutes from I‑14, with described strong accessibility
