Flex Space with Loading
New
For Sale
$729,000
1701 Martin Luther King Jr Boulevard, Killeen, TX 76543
CommercialSale, Killeen, TX
Property Size6,000 SF
Lot Size1.52 Acres
Price / SF$121.50
Days on Market2
Property Features for 1701 Martin Luther King Jr Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-5
Parking features
Carport
Lot features
One To Three Acres, City Lot
Directions
From the intersection of I-14 and Stan Schlueter Loop (3470) go north on Stan Schlueter Loop. It will "T" at the intersection of Stan Schlueter and Martin Luther King (2410). Take a left and the property will be on your left.
Standard status
Active
APN
146973
Size
6,000 SF
Lot size
1.52 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
A0150BC W H COLE, 701-13-1, ACRES 1.524
Tax Annual Amount
6822
Legal Description
A0150BC W H COLE, 701-13-1, ACRES 1.524
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
covered awning
conference room
Building Details
Year built
1989
Floors in Building
1
Flooring type
Concrete, Tile
Building materials
MetalFrame
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Molly Repasch · License #0554928
(254) 371-9932
Added: Sep 10
Last Checked: Sep 11 at 2:06PM
MLS# 625007
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 6,000-square-foot flex property combines office and warehouse functionality within a metal-frame building constructed in 1989. The layout includes multiple private offices, several restrooms, and an oversized conference or training room. A 3,000-square-foot covered awning, loading dock, concrete and tile flooring, central heating, and central air conditioning add operational versatility.
The 1.524-acre site provides room for parking, storage, and business activities. The property is zoned B-5 and served by public water and public sewer. Carport parking is included, while electric heating and cooling systems support the building’s interior spaces.
The 1.524-acre site provides room for parking, storage, and business activities. The property is zoned B-5 and served by public water and public sewer. Carport parking is included, while electric heating and cooling systems support the building’s interior spaces.
Key Highlights
- 6,000‑square‑foot flex building on a 1.524‑acre site
- 3,000‑square‑foot covered awning with loading dock
- Multiple private offices, several restrooms, and oversized conference or training room
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
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Dock-high doors
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
View Realmo Analytics
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
- Bennett Catering — 521 S 54th St, Killeen, TX 76543
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse improvements support distribution, storage, service, and training operations on a substantial commercial site.
Where is this flex space located?
The property is located at 1701 Martin Luther King Jr Boulevard 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 flex building on a 1.524‑acre site; 3,000‑square‑foot covered awning with loading dock; Multiple private offices, several restrooms, and oversized conference or training room
