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    Prime Commercial Building in Lampasas

    904 S Key Avenue Lampasas, TX 76550

    904 S Key Avenue, Lampasas, TX, 76550
    $475,000
    For Sale
    Claim this Listing
    $475,000

    COMMERCIAL - Lampasas, TX

    Property Size2,520 SF
    Lot Size0.19 Acres
    Price / SF$188.49
    AddedJul 9, 2024
    Days on Market738
    Last RefreshJul 16 at 12:06 pm

    Property Features for 904 S Key Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    1286 & 1287
    Size
    2,520 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    LOT: W59 L3 W59 OF N16 OF LOT 2 BLK: 27 ADDN: L S C 1ST
    Tax Annual Amount
    2608

    Utilities

    Heating system
    Electric (Heating), Central
    Cooling system
    Central Air, Electric
    Water source
    Public

    Building Details

    Year built
    1960
    Floors in Building
    1
    Flooring type
    Laminate
    Building materials
    Brick, Block, Concrete
    Roof type
    Flat

    Listing agent Lacy Davidson License #0647714

    Listing office Bear Real Estate Services 405 E 3rd St., Lampasas, TX

    Listing date Jul 9, 2024

    MLS# 550050

    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 commercial building, located in the heart of Lampasas, offers high vehicle and foot traffic with visibility from two major highways, 183 and 281. The property features a 2520 square foot space divided into two separate lease spaces, each equipped with its own utilities. This layout is suitable for multiple businesses or a single large operation. The property includes a metal fence perimeter, ample parking, and an additional storage building in the back. The lot size is 0.187 acres.

    Key Highlights

    • Prime commercial location in the heart of Lampasas with high vehicle and foot traffic.
    • Enjoy visibility from two major highways (183 and 281).
    • 2520 sq ft space divided into two separate lease spaces, each with its own utilities.

    Local Financial Insights For Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $45.4k $18.00
    − Vacancy −$2.5k −$1.01
    EGI $42.8k $16.99
    − OpEx −$12.8k −$5.10
    NOI $30.0k $11.89
    2,520 SF · lease $18.00/SF/yr · vacancy 5.60% · expense 30.00%

    Alternative Uses

    Best Use
    Retail
    $428.2K
    $374.7K – $499.6K (±1% cap)
    NOI $29,974 @ 7.0% cap · market cap 6.31%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $605.3K
    $529.6K – $706.2K (±1% cap)
    NOI $42,370 @ 7.0% cap · market cap 8.92%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    El Frias Restaurant

    Suggested Use

    Real Estate Agency Parking Lot & Garage Law Firm HVAC Service Furniture & Home Goods Plumbing Service Skin Care Clinic (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Garden Center

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Storefront property - Commercial building in the heart of Lampasas with high visibility.
    Where is this storefront property located?
    The property is located at 904 S Key Avenue Lampasas, TX.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Prime commercial location in the heart of Lampasas with high vehicle and foot traffic.; Enjoy visibility from two major highways (183 and 281).; 2520 sq ft space divided into two separate lease spaces, each with its own utilities.
    Contact an agent
    (254) 315-8893
    We can help!
    Contact an agent
    Lacy Davidson
    Lacy Davidson
    Real Estate License ID: 0647714
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