Commercial Land with Existing
For Sale
$750,000
1909 and 1907 Highway 183 / S Key Avenue, Lampasas, TX 76550
CommercialSale, Lampasas, TX
Property Size3,686 SF
Lot Size1.33 Acres
Price / SF$203.47
Days on Market50
Property Features for 1909 and 1907 Highway 183 / S Key Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed
Vegetation
Wooded
Lot features
One To Three Acres, City Lot, Mature Trees
Middle school
Lampasas Middle School
High school
Lampasas High School
Elementary school district
Lampasas ISD
Middle school district
Lampasas ISD
High school district
Lampasas ISD
Directions
From US-190W in Copperas Cove. Continue on 19W towards Lampasas. Turn left onto S Key Ave. About 0.3 miles the property will be on your left.
Standard status
Active
APN
11015, 11014
Size
3,686 SF
Lot size
1.33 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
ACR: .457 OL33 ABST: 0419 SURV: L H W JOHNSON and ACR: .873 ABST: 0419 SURV: L H W JOHNSON LocCd:94
Tax Annual Amount
2700
Legal Description
ACR: .457 OL33 ABST: 0419 SURV: L H W JOHNSON and ACR: .873 ABST: 0419 SURV: L H W JOHNSON LocCd:94
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1983
Floors in Building
1
Listing Agency:
All City Real Estate
(866) 277-6005
Listed By:
Alyssa Flynt · License #0811880
(361) 658-0126
Added: Sep 3
Changed: Oct 9
Last Checked: Oct 22 at 11:06AM
MLS# 623599
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.
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Investment Insights
Based on property information with market context.
This 1.33-acre commercial land parcel at 1909 and 1907 Highway 183 / S Key Avenue includes 3,686 square feet of existing structures and two residences. The improvements were built in 1983 and may provide an existing base for continued use, renovation, or future planning, subject to applicable city requirements.
The property fronts US Highway 183 in Lampasas and is served by public water and public sewer. Central and electric heating, along with electric and central air cooling, are present. The site combines commercial land with existing improvements and highway access, while buyers should verify permitted uses, utilities, access, and development requirements.
The property fronts US Highway 183 in Lampasas and is served by public water and public sewer. Central and electric heating, along with electric and central air cooling, are present. The site combines commercial land with existing improvements and highway access, while buyers should verify permitted uses, utilities, access, and development requirements.
Key Highlights
- 1.33‑acre commercial land parcel
- Frontage on US Highway 183 in Lampasas
- 3,686 square feet of existing structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,843
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$876,860
$876.9K
Cap Rate 7%
$626,329
$626.3K
Cap Rate 9%
$487,144
$487.1K
Market Conditions
NOI Build-Up for 3,686 SF
Gross rent
$66.3K $18.00/SF
− Vacancy
−$3.7K −$1.01/SF
EGI
$62.6K $16.99/SF
− OpEx
−$18.8K −$5.10/SF
NOI
$43.8K $11.89/SF
Area
Lampasas County, TX
Vacancy
5.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$876,860
Cap Rate 7%
$626,329
Cap Rate 9%
$487,144
Alternative Uses
Best Use
Retail
$626.3K
$548.0K – $730.7K
NOI $43,843 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.3K
$774.7K – $1.03M
NOI $61,974 @ 7.0% cap · market cap 8.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
Explore this area
Business Placement
Demographics for 76550, TX
12,840
Population
6,129
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
90%
High-School Grad
541.5 sq mi
ZIP Area
24
Density / Sq Mi
$73,697
Median Household Income
$34,970
Median Earnings
$902
Median Rent
$237,600
Median Home Value
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Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Commercial land - Highway-fronting commercial parcel with two existing residences and public utility service.
Where is this commercial land located?
The property is located at 1909 and 1907 Highway 183 / S Key Avenue Lampasas, 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: 1.33‑acre commercial land parcel; Frontage on US Highway 183 in Lampasas; 3,686 square feet of existing structures
