803 Central Texas Expy Killeen, TX 76541
- Commercial real estate
- 165,648 SF
- 2.77 lot acres
Current Use by Public Records
- Red Lion Hotel Killeen / Hotel / Indoor Lodging
- OYO Hotel Killeen East Central / Hotel / Inn
- Brotherhood Bar & Lounge / Bar
- Taj Restaurant & Bar, Best North Indian food / Restaurant / Indian Restaurant
Property Details for 803 Central Texas Expy
- Year built
- 1984
- Lot size
- 2.77 lot acres
- Property size
- 165,648 SF
- Property type
- Commercial real estate
- APN
- 65397
- APU
- 65397
Description
This six-story, 132-key hotel in Killeen, Texas presents a compelling redevelopment opportunity. Located at 803 W Central Texas Expy, 76541, this concrete and block structure boasts excellent visibility from Interstate 14 and Central Texas Expressway. Originally built in 1984, the hotel features 116 standard rooms and 16 suites, all non-smoking. Its prime location offers easy access to major employers including Fort Cavazos, Darnall Army Medical Center, and Killeen Independent School District, as well as leisure attractions like the 1st Cavalry Division Museum and Killeen Mall. The property's strategic positioning caters to both business and leisure travelers, benefiting from proximity to Killeen-Fort Cavazos Regional Airport (GRK). Franchise approvals are in place, and pre-approved plans are available for a seamless transition. This distressed sale offers significant potential for investors seeking to capitalize on the thriving Killeen hospitality market. The property's strong location and existing infrastructure provide a solid foundation for a successful hotel redevelopment project. This is a unique chance to acquire a substantial hotel property in a rapidly growing area with high demand for hospitality services.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $940,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,375,000
- 6.5%
- $1,345,000
- 7%
- $1,190,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,325,000
- Geo Method
- $1,145,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,135,000
- Retail
- $1,230,000
- Mixed-Use
- $1,135,000
- Hospitality
- $1,370,000
- Educational
- $1,335,000
- Residential Income
- $1,250,000
- Energy
- $1,330,000
- Income-Based Land
- $1,310,000
- Food Service
- $1,085,000
Location Insight
- Map
- Local Demand
- City
- Killeen
- County
- Bell
- State
- Texas
- Longitude
- -97.7328
- Latitude
- 31.0964
- CBSA code
- 28660
- CBSA name
- KILLEEN-TEMPLE-FORT HOOD, TX METROPOLITAN STATISTICAL AREA
