Flex Space with Loading
New
For Sale
$729,000
1701 Martin Luther King Jr Blvd, Killeen, TX 76543
Office and warehouse areas support storage, distribution, service, and training operations.
Property Size6,000 SF
Price / SF$121.50
Days on Market4
Property Features for 1701 Martin Luther King Jr Blvd
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Building Details
Building Size
6,000 SF
Year Built
1989
Stories
1
Listing Agency:
Jim Wright Company
Listed By:
Molly Repasch · License #0554928
(254) 371-9932
Source:
Elliman
Added: Sep 11
Last Checked: Sep 13 at 9:31AM
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 Jim Wright Company
Investment Insights
Based on property information with market context.
This flex property combines 6,000 square feet of office and warehouse space with a 3,000-square-foot covered awning. Interior improvements include multiple private offices, several restrooms, and an oversized room configured for conferences or training. A loading dock supports receiving and shipping functions.
The property occupies over 1.5 acres at 1701 Martin Luther King Jr Blvd in Killeen, Texas. The site provides room for parking, storage, and ongoing business operations. Built in 1989, the facility accommodates distribution, storage, service, training, and other commercial uses identified for the property.
The property occupies over 1.5 acres at 1701 Martin Luther King Jr Blvd in Killeen, Texas. The site provides room for parking, storage, and ongoing business operations. Built in 1989, the facility accommodates distribution, storage, service, training, and other commercial uses identified for the property.
Key Highlights
- 6,000‑square‑foot office and warehouse facility
- Over 1.5 acres with space for parking, storage, and operations
- 3,000‑square‑foot covered awning
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
$43,146
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
5.92%
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%
$862,920
$862.9K
Cap Rate 7%
$616,371
$616.4K
Cap Rate 9%
$479,400
$479.4K
Market Conditions
NOI Build-Up for 6,000 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
$54.0K $9.00/SF
− Vacancy
−$3.2K −$0.54/SF
EGI
$50.8K $8.46/SF
− OpEx
−$7.6K −$1.27/SF
NOI
$43.1K $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%
$862,920
Cap Rate 7%
$616,371
Cap Rate 9%
$479,400
Alternative Uses
Best Use
Warehouse
$616.4K
$539.3K – $719.1K
NOI $43,146 @ 7.0% cap · market cap 5.92%
Second Best
Flex RnD
$562.6K
$492.3K – $656.4K
NOI $39,382 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,881 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 76543, TX
30,545
Population
15,300
Households
2
Avg Household Size
30
Median Age
15%
College-Educated
91%
High-School Grad
35.6 sq mi
ZIP Area
858
Density / Sq Mi
$51,239
Median Household Income
$31,712
Median Earnings
$1,099
Median Rent
$140,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse areas support storage, distribution, service, and training operations.
Where is this flex space located?
The property is located at 1701 Martin Luther King Jr Blvd Killeen, TX.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: 6,000‑square‑foot office and warehouse facility; Over 1.5 acres with space for parking, storage, and operations; 3,000‑square‑foot covered awning
