Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2830 Lucius Mccelvey Dr Temple, TX 76504

    • Commercial real estate
    • 9,100 SF
    • 5.01 lot acres
    OFF-MARKET
    Value Estimations
    $1,295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3368462
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2830 Lucius Mccelvey Dr

    Year built
    2008
    Lot size
    5.01 lot acres
    Property size
    9,100 SF
    Property type
    Commercial real estate
    APN
    385889
    APU
    385889

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,535,000
      6.5%
      $1,420,000
      7%
      $1,315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,169,000
      Market price range: $382k - $1.49M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $935,000
      Current use
      INDUSTRIAL (GENERAL)
      $1,085,000
      Change: +16% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Temple
    County
    Bell
    State
    Texas
    Longitude
    -97.3548
    Latitude
    31.1295
    CBSA code
    28660
    CBSA name
    KILLEEN-TEMPLE-FORT HOOD, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $15,059
    $130,889
    $539,797
    $670,686
    -
    $130,889
    $539,797
    $670,686

    Comparable in this City

    • Value Estimation by Request
      0.15 Acres

      1609 Nugent Ave

      COMMERCIAL (GENERAL) • 0.15 Acres
      1609 Nugent Ave, Temple, TX 76504
      View Details
    • Value Estimation by Request
      0.04 Acres

      2818 Ave O O

      COMMERCIAL (GENERAL) • 0.04 Acres
      2818 Ave O O, Temple, TX 76504-6473
      View Details
    • Value Estimation by Request
      0.17 Acres

      200 Blackfoot Dr

      COMMERCIAL (GENERAL) • 0.17 Acres
      200 Blackfoot Dr, Temple, TX 76504
      View Details
    • Value Estimation by Request
      0.29 Acres

      806 33rd St

      COMMERCIAL (GENERAL) • 0.29 Acres
      806 33rd St, Temple, TX 76504
      View Details
    • Value Estimation by Request
      0.27 Acres

      1809 33rd St

      COMMERCIAL (GENERAL) • 0.27 Acres
      1809 33rd St, Temple, TX 76504-6720
      View Details
    • Value Estimation by Request
      0.46 Acres

      2419 Adams Ave

      COMMERCIAL (GENERAL) • 0.46 Acres
      2419 Adams Ave, Temple, TX 76504
      View Details

    Similar Nearby for Sale

    • $2,500,000
      10.36 Acres

      Temple Commercial Land - I-35 Access

      Prime Development Land, I-35 Corridor, Texas
      402 General Bruce Dr, Temple, TX 76504
      View Details
    • Contact for pricing
      1.14 Acres

      Temple Commercial Land - 1.14 Acres

      Prime 1.14-acre development site in Temple, TX.
      1221 John Paul Jones Dr, Temple, TX 76504
      View Details
    • $1,995,000
      6.32 Acres

      Temple Industrial Land - $1.995M

      6.32 Acres, IH-35 Access, Temple, TX
      1402 57Th St, Temple, TX 76504
      View Details
    • $1,845,462
      14.12 Acres

      21819 H K Dodgen Loop

      Land • 14.12 Acres
      21819 H K Dodgen Loop, Temple, TX 76504
      View Details
    • $1,700,000
      23.10 Acres

      Temple Industrial Land - Huge Potential

      23 Acres, I-35 Proximity, Heavy Industrial Zoning
      31St St, Temple, TX 76504
      View Details
    • $475,000
      3.03 Acres

      Temple Commercial Land - 3 Acres

      Prime commercial land, ideal location.
      4401 Kuykendall Trl, Temple, TX 76504
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      23,000 SF

      Paint Brush Plaza Office Suites

      Class A Office Space, Temple, TX
      4311 Adams Ave, Temple, TX 76504
      View Details
    • $0.40 SF/Yr
      24,210 SF

      Temple Industrial Park Warehouse Space

      Industrial warehouse space available for lease in Temple, Texas.
      1215 Industrial Blvd, Temple, TX 76504
      View Details
    • $0.85 SF/Yr
      1,250 SF

      Professional Office Space Available

      Office space with private offices and reception area for rent.
      416 N 3Rd St, Temple, TX 76504
      View Details
    • $0.75 SF/Yr
      3,750 SF

      Temple Warehouse with Office Space

      3,750 SF warehouse with office space and easy access.
      160 S General Bruce Dr, Temple, TX 76504
      View Details
    • $1.25 SF/Yr
      595 SF

      Office Space on HK Dodgen

      Professional office building with excellent traffic exposure for rent.
      3500 SW H K Dodgen Loop, Temple, TX 76504
      View Details
    • $1.00 SF/Yr
      1,350 SF

      Retail Space Available For Lease

      Retail space for lease with tenant improvement allowance negotiable.
      1701 Avenue M W, Temple, TX 76504
      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.
    2830 Lucius Mccelvey Dr
    Temple, TX 76504
    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.