Church Facility with Office
For Sale
$285,000
212 E Highway 67, Keene, TX 76059
Front and rear areas provide offices, meeting space, kitchen areas, restrooms, and a connected secondary building section.
Property Size1,520 SF
Price / SF$187.50
Days on Market26
Property Features for 212 E Highway 67
General Information
Standard status
Active
Size
1,520 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
kitchen break room
lobby
laundry room
breeze way
restroom
kitchen area
break room
Building Details
Year Built
9999
Listing Agency:
Gillin Realty, LLC
(817) 556-3141
Listed By:
Samantha Gillin · License #0346722
Source:
Christenberrygroup
Added: Aug 3
Changed: Aug 28
Last Checked: Aug 28 at 8:04AM
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 Gillin Realty, LLC
Investment Insights
Based on property information with market context.
This 1,520-square-foot church facility includes a front structure arranged with three offices, one and one-half bathrooms, a lobby, kitchen and break-room areas, and a laundry room. A breezeway connects to the attached rear portion, which adds an office, lobby, restroom, and kitchen area that can support conference, training, or additional office functions.
The property has frontage along Highway 67 at 212 E Highway 67 in Keene, Texas. Its existing layout includes multiple enclosed offices, shared areas, kitchen facilities, and restrooms within the connected buildings. The larger portion is also described as suitable for medical, beauty, retail, coffee shop, church, tax preparation, clothing boutique, or other retail-oriented use, subject to verification of zoning and restrictions.
The property has frontage along Highway 67 at 212 E Highway 67 in Keene, Texas. Its existing layout includes multiple enclosed offices, shared areas, kitchen facilities, and restrooms within the connected buildings. The larger portion is also described as suitable for medical, beauty, retail, coffee shop, church, tax preparation, clothing boutique, or other retail-oriented use, subject to verification of zoning and restrictions.
Key Highlights
- 1,520‑square‑foot church facility with connected front and rear building areas
- Front building contains three offices and one and one‑half bathrooms
- Highway 67 frontage at 212 E Highway 67 in Keene, TX 76059
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
$25,425
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
8.92%
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%
$508,500
$508.5K
Cap Rate 7%
$363,214
$363.2K
Cap Rate 9%
$282,500
$282.5K
Market Conditions
NOI Build-Up for 1,520 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
$46.7K $30.72/SF
− Vacancy
−$12.8K −$8.42/SF
EGI
$33.9K $22.30/SF
− OpEx
−$8.5K −$5.58/SF
NOI
$25.4K $16.73/SF
Area
Johnson County, TX
Vacancy
27.40%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
25.00%
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%
$508,500
Cap Rate 7%
$363,214
Cap Rate 9%
$282,500
Alternative Uses
Best Use
Office B
$363.2K
$317.8K – $423.8K
NOI $25,425 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$18.22M
$15.94M – $21.26M
NOI $1,275,380 @ 7.0% cap · market cap 447.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 76059, TX
4,928
Population
2,100
Households
2.3
Avg Household Size
34
Median Age
28%
College-Educated
83%
High-School Grad
2.5 sq mi
ZIP Area
1,971
Density / Sq Mi
$50,000
Median Household Income
$32,614
Median Earnings
$939
Median Rent
$223,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Front and rear areas provide offices, meeting space, kitchen areas, restrooms, and a connected secondary building section.
Where is this church & religious facility located?
The property is located at 212 E Highway 67 Keene, TX.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 1,520‑square‑foot church facility with connected front and rear building areas; Front building contains three offices and one and one‑half bathrooms; Highway 67 frontage at 212 E Highway 67 in Keene, TX 76059
