Versatile Warehouse on Happy
For Sale
$265,000
49 Happy Street, Killeen, TX 76541
3,000 sq ft warehouse suitable for various business operations.
Property Size3,000 SF
Price / SF$88.33
Days on Market715
Property Features for 49 Happy Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
General Commercial
Amenities
3
Concrete
No Parking.
Community Maintenance.
Building Details
Year Built
1970
Listing Agency:
(254) 228-6674
Listed By:
Native Real Estate
(254) 317-7146
Source:
Xome
Added: Sep 23, 2024
Changed: Sep 1
Last Checked: Sep 7 at 4:48AM
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 Native Real Estate
Investment Insights
Based on property information with market context.
This 3,000 sq. ft. warehouse is located off Veterans Memorial Drive on a quiet cul-de-sac. The property is less than an hour from Georgetown and 35 minutes to Temple, providing convenient access for businesses serving Central Texas. The space includes a loft area, two potential office spaces, and a bathroom that will soon be operable. Equipped with electric service and city water availability, this warehouse is suited for auto detailing, auto paint, and body shops, or warehouse storage. It could also serve as a distribution center, with its flexible layout accommodating various industrial or commercial needs. The property offers potential for a range of business operations.
Key Highlights
- 3,000 sq ft versatile warehouse space suitable for various business operations.
- Convenient access to Georgetown (under an hour) and Temple (35 minutes).
- Suitable for auto services, storage, or a distribution center.
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
$21,573
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
8.14%
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%
$431,460
$431.5K
Cap Rate 7%
$308,186
$308.2K
Cap Rate 9%
$239,700
$239.7K
Market Conditions
NOI Build-Up for 3,000 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
$27.0K $9.00/SF
− Vacancy
−$1.6K −$0.54/SF
EGI
$25.4K $8.46/SF
− OpEx
−$3.8K −$1.27/SF
NOI
$21.6K $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%
$431,460
Cap Rate 7%
$308,186
Cap Rate 9%
$239,700
Alternative Uses
Best Use
Warehouse
$308.2K
$269.7K – $359.6K
NOI $21,573 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$720.6K
$630.5K – $840.7K
NOI $50,440 @ 7.0% cap · market cap 19.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- A-American Mini Storage — 401 Priest Dr, Killeen, TX 76541
- Self-Storage at U-Haul — 102 E Veterans Memorial Blvd, Killeen, TX 76541
- Top Mini Storage — 325 e veterans memorial blvd, killeen, tx 76541
- Self Storage — 124 N 4th St, Killeen, TX 76541
Frequently Asked Questions
What type of property is this?
Warehouse - 3,000 sq ft warehouse suitable for various business operations.
Where is this warehouse located?
The property is located at 49 Happy Street Killeen, TX.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 3,000 sq ft versatile warehouse space suitable for various business operations.; Convenient access to Georgetown (under an hour) and Temple (35 minutes).; Suitable for auto services, storage, or a distribution center.
