Gas Station with Underground Storage
For Sale
$249,900
519 W Veterans Memorial Boulevard, Killeen, TX 76541
CommercialSale, Killeen, TX
Property Size1,200 SF
Lot Size0.25 Acres
Price / SF$208.25
Days on Market50
Property Features for 519 W Veterans Memorial Boulevard
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C
Subdivision
Rodeway Sub
Lot features
City Lot, Quarter To Half Acre Lot
Elementary school district
Killeen ISD
Middle school district
Killeen ISD
High school district
Killeen ISD
Directions
Take I-14/US-190 W to W Central Texas Expy in Killeen. Take exit 283 from I-14/US-190 W, take S Fort Hood St to W Veterans Memorial Blvd., make a right, location will be on the left, in front of hotel/apartment.
Standard status
Active
APN
152041
Size
1,200 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
RODEWAY SUBDIVISION, BLOCK 001, LOT PT 1, (SW PT OF 1, 87.48' X 118.0' X 92.0' X 120.0')
Tax Annual Amount
1852
Legal Description
RODEWAY SUBDIVISION, BLOCK 001, LOT PT 1, (SW PT OF 1, 87.48' X 118.0' X 92.0' X 120.0')
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1988
Floors in Building
1
Flooring type
Combination
Building materials
Block, Concrete, Stucco
Roof type
Flat
Listing Agency:
Real Broker
(855) 450-0442
Listed By:
Oraya Fernandez · License #0718576
(254) 833-3379
Added: Jul 3
Changed: Aug 20
Last Checked: Aug 21 at 3:06PM
MLS# 618658
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 old gas station property includes underground storage tanks in place and is currently operating as a mixed-use games, recreation, and retail business. The structure is 1,200 square feet and is built with block, concrete, and stucco construction under a flat roof. Heating includes central electric (heating) and cooling is provided via central air with electric systems. The property is served by public water and public sewer.
Set on a 0.2452-acre lot, the site is located on West Veterans Memorial Boulevard in an established commercial corridor in Killeen. The property is positioned directly in front of a large hotel and apartment community.
Zoned “C,” the site can support a range of commercial concepts, including retail and neighborhood service uses, with flexibility for future redevelopment or repositioning. Buyer to independently verify all information, zoning, and environmental considerations.
Set on a 0.2452-acre lot, the site is located on West Veterans Memorial Boulevard in an established commercial corridor in Killeen. The property is positioned directly in front of a large hotel and apartment community.
Zoned “C,” the site can support a range of commercial concepts, including retail and neighborhood service uses, with flexibility for future redevelopment or repositioning. Buyer to independently verify all information, zoning, and environmental considerations.
Key Highlights
- 0.2452‑acre site
- 1,200 SF building currently operating as games, recreation, and retail
- Underground storage tanks in place
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
$17,442
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
6.98%
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%
$348,840
$348.8K
Cap Rate 7%
$249,171
$249.2K
Cap Rate 9%
$193,800
$193.8K
Market Conditions
NOI Build-Up for 1,200 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
$24.5K $20.40/SF
− Vacancy
−$1.2K −$1.02/SF
EGI
$23.3K $19.38/SF
− OpEx
−$5.8K −$4.85/SF
NOI
$17.4K $14.54/SF
Area
Killeen, TX
Vacancy
5.00%
Lease Rate
$20.40 /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%
$348,840
Cap Rate 7%
$249,171
Cap Rate 9%
$193,800
Alternative Uses
Best Use
Specialty Retail
$249.2K
$218.0K – $290.7K
NOI $17,442 @ 7.0% cap · market cap 6.98%
Second Best
Retail
$203.9K
$178.4K – $237.9K
NOI $14,273 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$288.2K
$252.2K – $336.3K
NOI $20,176 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,436
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Old gas station on a 0.2452-acre site with 1,200 SF building, public utilities, and underground storage tanks in place.
Where is this gas station located?
The property is located at 519 W Veterans Memorial Boulevard Killeen, TX.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: 0.2452‑acre site; 1,200 SF building currently operating as games, recreation, and retail; Underground storage tanks in place
