16-Unit Apartment
For Sale
Contact for pricing
1808 North 8th Street, Killeen, TX 76541
Sixteen-unit multifamily asset at 1808 North 8th Street.
Property Size6,000 SF
Price / SF$109.17
Days on Market46
Property Features for 1808 North 8th Street
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
16
Property subtype
Multifamily
Investment Type
Value Add
Additional Details
Multifamily Units
16
Building Details
Buildings
2
Units
16
Tenancy
Multi
Listing Agency:
ALL PRO Real Estate Int'l
Listed By:
Jimmy LaPeter · License #00462499
Source:
Crexi
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 5:46PM
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 ALL PRO Real Estate Int'l
Investment Insights
Based on property information with market context.
This apartment building contains 16 units within 6,000 square feet of property area. The asset is located at 1808 North 8th Street in Killeen, Texas, with a residential income-property configuration suited to multifamily ownership.
Key Highlights
- 16‑unit apartment building
- 6,000 square feet of property area
- Located at 1808 North 8th Street
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
$47,979
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
7.33%
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%
$959,580
$959.6K
Cap Rate 7%
$685,414
$685.4K
Cap Rate 9%
$533,100
$533.1K
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
$93.6K $15.60/SF
− Vacancy
−$6.4K −$1.06/SF
EGI
$87.2K $14.54/SF
− OpEx
−$39.3K −$6.54/SF
NOI
$48.0K $8.00/SF
Area
Killeen, TX
Vacancy
6.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$959,580
Cap Rate 7%
$685,414
Cap Rate 9%
$533,100
Alternative Uses
Best Use
Apartment 5plus
$685.4K
$599.7K – $799.7K
NOI $47,979 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,881 @ 7.0% cap · market cap 15.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Sixteen-unit multifamily asset at 1808 North 8th Street.
Where is this apartment building located?
The property is located at 1808 North 8th Street Killeen, TX.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: 16‑unit apartment building; 6,000 square feet of property area; Located at 1808 North 8th Street
