Masonry Flex Building With Bay
For Sale
$699,600
1520 S Fort Hood Street, Killeen, TX 76542
CommercialSale, Killeen, TX
Property Size5,750 SF
Lot Size0.37 Acres
Price / SF$121.67
Days on Market303
Property Features for 1520 S Fort Hood Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-5
Subdivision
South Gate
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
From I-14 go north for about a 1/4 mile and the property is on the right.
Standard status
Active
APN
49412
Size
5,750 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SOUTH GATE, BLOCK 010, LOT PT 13, (N 80' OF 13)
Tax Annual Amount
4176
Legal Description
SOUTH GATE, BLOCK 010, LOT PT 13, (N 80' OF 13)
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
bay door
paved parking
Building Details
Year built
1973
Floors in Building
1
Flooring type
Linoleum
Building materials
Masonry
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Jim Wright · License #0181945
(254) 289-3145
Added: Oct 30, 2025
Changed: Aug 20
Last Checked: Aug 28 at 10:06AM
MLS# 596083
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.
This 5,750-square-foot flex property occupies a 0.3673-acre site and was constructed in 1973 with masonry materials. The building includes warehouse area at the rear with a bay door, along with linoleum flooring and central electric heating and cooling. Public water and public sewer serve the property, and B-5 zoning is in place.
Located at 1520 S Fort Hood Street in Killeen, the property provides access from Highway 195 and includes paved on-site parking. Its proximity to Fort Hood adds an established institutional reference point within the surrounding area.
Located at 1520 S Fort Hood Street in Killeen, the property provides access from Highway 195 and includes paved on-site parking. Its proximity to Fort Hood adds an established institutional reference point within the surrounding area.
Key Highlights
- 5,750‑square‑foot flex building on a 0.3673‑acre lot
- Rear warehouse area with bay door
- Masonry construction completed in 1973
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
$41,348
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
5.91%
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%
$826,960
$827.0K
Cap Rate 7%
$590,686
$590.7K
Cap Rate 9%
$459,422
$459.4K
Market Conditions
NOI Build-Up for 5,750 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
$51.8K $9.00/SF
− Vacancy
−$3.1K −$0.54/SF
EGI
$48.6K $8.46/SF
− OpEx
−$7.3K −$1.27/SF
NOI
$41.3K $7.19/SF
Area
Killeen, TX
Vacancy
6.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$826,960
Cap Rate 7%
$590,686
Cap Rate 9%
$459,422
Alternative Uses
Best Use
Warehouse
$590.7K
$516.9K – $689.1K
NOI $41,348 @ 7.0% cap · market cap 5.91%
Second Best
Flex RnD
$539.2K
$471.8K – $629.0K
NOI $37,741 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,677 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
575
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- SZ Delights: Funnel Cake Factory — 1624 S Fort Hood St, Killeen, TX 76542
Frequently Asked Questions
What type of property is this?
Flex space - Masonry commercial building with rear warehouse space, paved parking, and access from Highway 195.
Where is this flex space located?
The property is located at 1520 S Fort Hood Street Killeen, TX.
What is the asking price?
The asking price for this property is $699,600.
What are key features of this property?
This property features: 5,750‑square‑foot flex building on a 0.3673‑acre lot; Rear warehouse area with bay door; Masonry construction completed in 1973
