Commercial Property on Veterans Memorial
For Sale
$750,000
1505 E VETERANS MEMORIAL HARKER HEIGHTS TX 76548, Harker Heights, TX 76548
Versatile commercial property with redevelopment potential on a large lot.
Property Size3,390 SF
Lot Size2.64 Acres
Price / SF$221.24
Days on Market268
Property Features for 1505 E VETERANS MEMORIAL HARKER HEIGHTS TX 76548
General Information
Standard status
Active
Size
3,390 SF
Lot size
2.64 Acres
Property subtype
Commercial
Zoning
B-5
Building Details
Year Built
1978
Stories
1
Listing Agency:
John Reider Properties II, Ltd
(254) 289-2400
Listed By:
John Reider · License #0345039
(254) 289-2400
Source:
Kwsanantonio
Added: Dec 3, 2025
Changed: Aug 23
Last Checked: Aug 28 at 6:57AM
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 John Reider Properties II, Ltd
Investment Insights
Based on property information with market context.
This commercial property, formerly a club, is located on E. Veterans Memorial Blvd. and offers redevelopment or business expansion possibilities. The property is zoned B-5 and includes a 3,400 sq. ft. building on a 2.64-acre lot, providing space for additional structures, parking, or future growth. The location provides visibility and accessibility, being situated minutes from I-14. The property is suitable for a range of commercial uses, including a restaurant, retail center, entertainment venue, or multi-use development. The location has a walk score of 11, indicating car dependence, and a bike score of 26, indicating it is somewhat bikeable.
Key Highlights
- Prime commercial property with B‑5 zoning, offering diverse redevelopment or business expansion possibilities.
- Large 2.64‑acre lot allows for additional structures, ample parking, or future expansion.
- Excellent visibility on E. Veterans Memorial Blvd. ensures high traffic exposure.**
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
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
3,119 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 - Versatile commercial property with redevelopment potential on a large lot.
Where is this retail space located?
The property is located at 1505 E VETERANS MEMORIAL HARKER HEIGHTS TX 76548 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: Prime commercial property with B‑5 zoning, offering diverse redevelopment or business expansion possibilities.; Large 2.64‑acre lot allows for additional structures, ample parking, or future expansion.; Excellent visibility on E. Veterans Memorial Blvd. ensures high traffic exposure.**
