1702 Central Texas Expy Lampasas, TX 76550

Property Details for 1702 Central Texas Expy

Year built

2021

Lot size

2.10 lot acres

Property size

9,160 SF

Property type

Commercial real estate

APN

8176

APU

8176

Description

This exceptional 70,410 square foot retail property in Lampasas, Texas, presents a compelling investment opportunity. Located at 1702 Central Texas Expy, 76550, this single-story, 2021-built center boasts a prime location adjacent to Walmart, ensuring high visibility and foot traffic. Currently 75% occupied, the property features a diverse tenant mix including T-Mobile, Golden Chick, and other businesses, offering a strong, e-commerce-resistant lineup. The property includes 89 parking spaces and sits on a 2.1-acre lot. The Net Lease (NNN) structure minimizes landlord responsibilities, while the fee simple ownership provides complete control. The current Net Operating Income (NOI) stands at $172,563, yielding a 5.75% cap rate with an asking price of $3,000,000 ($42.61/sq ft). The property features scheduled rent increases for all tenants, providing a hedge against inflation and significant upside potential. This value-add opportunity allows for increased NOI through leasing up the remaining vacancy. T-Mobile's lease includes a 10% rental increase every five years, while other tenants have annual increases. The property's strong tenant lineup, strategic location, and built-in rent growth make it an attractive investment for those seeking stable cash flow and long-term appreciation. The property is zoned for retail use (R: Retail) and has a land value of $335 per square foot. This is a multi-tenant property with four units in total.

Location Insight

City

Lampasas

County

Lampasas

State

Texas

Longitude

-98.1612

Latitude

31.0633

CBSA code

28660

CBSA name

KILLEEN-TEMPLE-FORT HOOD, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments