Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Avenue C Killeen, TX 76541

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Avenue C Killeen, TX 76541

    View on Map
    • Commercial real estate
    • 0.53 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for Avenue C

    Year built
    1957
    Lot size
    0.53 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial property presents a unique investment opportunity in the heart of downtown Killeen, Texas. The single-story building, encompassing 21,830 square feet, currently operates as the successful Twice as Funny Comedy Club. The property sits on a 0.79-acre lot, providing ample parking with 49 spaces. Its B5 zoning allows for a wide range of commercial uses, offering significant flexibility for future development. The interior boasts multiple rooms, well-equipped kitchen areas, and numerous bathrooms, all designed to efficiently accommodate a large volume of patrons. The existing comedy club business is operational until May 2024, providing a proven income stream and established clientele. All contents within the building convey with the sale, representing a turnkey operation. Located in a vibrant downtown area, this property benefits from high visibility and easy access. The substantial size of the building, combined with the ample parking and flexible zoning, makes this an ideal investment for both seasoned entrepreneurs and those seeking a high-return opportunity in a growing Texas market. The asking price is $2,700,000. This is a rare chance to acquire a well-established business and prime real estate in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Killeen
    County
    Bell
    State
    Texas
    Longitude
    -97.7261
    Latitude
    31.1205

    Comparable in this City

    • Value Estimation by Request
      1.41 Acres

      550 Central Texas Expy

      Land • 1.41 Acres
      550 Central Texas Expy, Killeen, TX 76541
      View Details
    • Value Estimation by Request
      0.96 Acres

      Priest Dr

      COMMERCIAL (GENERAL) • 0.96 Acres
      Priest Dr, Killeen, TX 76541
      View Details
    • Value Estimation by Request
      0.48 Acres

      Ave D D

      COMMERCIAL (GENERAL) • 0.48 Acres
      Ave D D, Killeen, TX 76541
      View Details
    • Value Estimation by Request
      0.50 Acres

      906 Hallmark Ave

      COMMERCIAL (GENERAL) • 0.50 Acres
      906 Hallmark Ave, Killeen, TX 76541
      View Details
    • Value Estimation
      $3,995,000
      25,424 SF

      201 Hallmark Ave

      COMMERCIAL (GENERAL) • 25,424 SF
      201 Hallmark Ave, Killeen, TX 76541
      View Details
    • Value Estimation by Request
      3,484 SF

      Hallmark Ave

      COMMERCIAL (GENERAL) • 3,484 SF
      Hallmark Ave, Killeen, TX 76541
      View Details

    Similar Nearby for Sale

    • $500,000
      0.08 Acres

      Downtown Killeen Commercial Property

      Prime location, versatile space, high potential.
      Avenue D, Killeen, TX 76541
      View Details
    • $150,000
      0.11 Acres

      Established Restaurant Near Fort Cavazos

      Long-term Italian restaurant with indoor/outdoor seating near Fort Cavazos.
      716 W Veterans Blvd, Killeen, TX 76541
      View Details
    • $1,200,000
      1,598 SF

      Chevron Gas Station Opportunity

      Chevron gas station and convenience store for sale in Killeen.
      907 North Gray St, Killeen, TX 76541
      View Details
    • $799,000
      3,474 SF

      High-Exposure Office Building on I-14

      Professional office building with high visibility and accessibility.
      701 W Central Texas Expy, Killeen, TX 76541
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Killeen, Texas.
      719 W Rancier Ave, Killeen, TX 76541
      View Details
    • $1,090 /Mo
      1,000 SF

      Retail Space Available For Rent

      Retail space available for lease in Killeen, Texas.
      309 N 8Th St, Killeen, TX 76541
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Avenue C
    Killeen, TX 76541
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!