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    303 Calhoun Ave Temple, TX 76501

    For Sale
    $2,275,100

    13,080 SF, 6% Cap Rate, Stabilized

    Property size:
    13,080 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    366
    This exceptional investment opportunity presents a 13,080-square-foot, single-tenant office building located in Temple, Texas's central business district. The property, situated at 303 W Calhoun Ave, boasts a prime location near key landmarks including the Temple Fire & Rescue Central Station, KCEN-TV Station, ExtraCo Bank, Santa Fe Plaza, Temple EDC, Temple ISD Administration, and Temple City Hall. Built in 1990 and completely renovated in 2020, this Class B building features a 10-year lease with MRB Group, commencing October 1, 2020, and expiring September 30, 2030. The lease has 5.9 years remaining, with a fixed rate for the first five years and annual escalations for the remaining term. The modified gross lease provides a stable income stream, with a current Net Operating Income (NOI) of $136,506, resulting in a 6.00% capitalization rate. The asking price is $2,275,100, translating to $173.94 per square foot. The 1.27-acre lot is zoned CA (Central Area). This stabilized investment offers a compelling opportunity for a 1031 exchange. The property consists of one building, one story, and features 100% occupancy. All aspects of the building have been meticulously maintained and updated. This is a rare opportunity to acquire a high-quality, income-producing asset in a thriving Texas market.

    Property Features for 303 Calhoun Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    13,080 SF
    Class
    B
    Lot Size
    55,321 SF

    Building Details

    Year Built/Renovated
    1990/2020
    Buildings
    1
    Stories
    1
    Units
    1
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MRB Group Architect

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Temple
    County
    Bell
    State
    Texas
    Longitude
    -97.343388588643
    Latitude
    31.100576047632

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    FAQs

    What type of property is this?
    Office Property Space - 13,080 SF, 6% Cap Rate, Stabilized
    Where is this office property space located?
    The property is located at 303 Calhoun Ave Temple, TX.
    What is the asking price?
    The asking price for this property is $2,275,100.
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    303 Calhoun Ave Temple, TX 76501
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    Temple, TX 76501
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    303 Calhoun Ave Temple, TX 76501
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