Drive-Through Restaurant with Dining
New
For Sale
$685,000
829 W Rancier Avenue, Killeen, TX 76541
CommercialSale, Killeen, TX
Property Size2,363 SF
Lot Size0.29 Acres
Price / SF$289.89
Days on Market2
Property Features for 829 W Rancier Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-5
Parking features
Driveway, Special Needs
Accessibility
Accessible Approach with Ramp
Subdivision
Coffield Sub
Lot features
City Lot, Quarter To Half Acre Lot
Directions
From the intersection of Hwy 195 (Fort Hood St) and FM 439 (Rancier Ave) go east on Rancier Ave. The property will be on your left.
Standard status
Active
APN
45902
Size
2,363 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
COFFIELD SUBDIVISION, BLOCK 001, LOT 8, 9, PT 7
Tax Annual Amount
10999
Legal Description
COFFIELD SUBDIVISION, BLOCK 001, LOT 8, 9, PT 7
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Amenities
exterior walk-in freezer
storage space
Building Details
Year built
1986
Floors in Building
1
Flooring type
Tile
Building materials
Block, Concrete, VerticalSiding
Listing Agency:
Jim Wright Company
(254) 526-5117
Listed By:
Molly Repasch · License #0554928
(254) 371-9932
Added: Aug 27
Changed: Aug 28
Last Checked: Aug 28 at 9:06AM
MLS# 623800
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.
The 2,363-square-foot restaurant includes an indoor dining area arranged with booths and tables, along with a commercial vent hood, storage space, and an exterior walk-in freezer. A drive-through component supports the existing restaurant configuration, while a lighted monument sign serves the property. The building was constructed in 1986 and has block, concrete, and vertical siding construction with tile flooring.
Located at 829 W Rancier Avenue in Killeen, the property is near a Fort Hood gate. Public water and public sewer serve the site, which encompasses 0.2938 acres. Additional features include central electric heating and cooling, driveway parking, and an accessible approach with ramp. The property is zoned B-5.
Located at 829 W Rancier Avenue in Killeen, the property is near a Fort Hood gate. Public water and public sewer serve the site, which encompasses 0.2938 acres. Additional features include central electric heating and cooling, driveway parking, and an accessible approach with ramp. The property is zoned B-5.
Key Highlights
- 2,363 SF restaurant building on a 0.2938‑acre lot
- Drive‑through component with indoor dining, booths, and tables
- Commercial vent hood and exterior walk‑in freezer
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
$34,346
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
5.01%
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%
$686,920
$686.9K
Cap Rate 7%
$490,657
$490.7K
Cap Rate 9%
$381,622
$381.6K
Market Conditions
NOI Build-Up for 2,363 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
$48.2K $20.40/SF
− Vacancy
−$2.4K −$1.02/SF
EGI
$45.8K $19.38/SF
− OpEx
−$11.4K −$4.85/SF
NOI
$34.3K $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%
$686,920
Cap Rate 7%
$490,657
Cap Rate 9%
$381,622
Alternative Uses
Best Use
Specialty Retail
$490.7K
$429.3K – $572.4K
NOI $34,346 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$567.6K
$496.6K – $662.2K
NOI $39,730 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
595
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?
Drive through restaurant - Food-service property with commercial ventilation, freezer storage, driveway parking, and proximity to a Fort Hood gate.
Where is this drive through restaurant located?
The property is located at 829 W Rancier Avenue Killeen, TX.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 2,363 SF restaurant building on a 0.2938‑acre lot; Drive‑through component with indoor dining, booths, and tables; Commercial vent hood and exterior walk‑in freezer
