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Property profile & analytics
FOR SALE
Commercial real estate

904 S Key Ave Lampasas, TX 76550

6,865 SF 1.67 ac lot Built 2006
Individually Owned Free & Clear
Property ID
US82-5437050
Property summary
AI-generated overview

This exceptional commercial property, located at 904 S Key Ave in Lampasas, Texas, presents a remarkable investment opportunity. The 2,520 square foot building enjoys a highly visible position, benefiting from significant vehicle and pedestrian traffic due to its proximity to two major highways, Highway 183 and Highway 281. The property's layout is intelligently designed with two distinct lease spaces, each equipped with its own utility meters, offering flexibility for either a single large tenant or multiple smaller businesses. This setup provides significant operational independence and cost-effectiveness. The property is fully enclosed by a metal fence, ensuring security and privacy. Ample on-site parking is available for tenants and customers, enhancing convenience and accessibility. Adding to its practicality, a separate storage building is located at the rear of the main structure, providing additional space for inventory, equipment, or other storage needs. The 0.19-acre lot provides a comfortable footprint for the existing buildings and offers potential for future expansion or outdoor use. This turnkey commercial property is ready for immediate occupancy and represents a strong investment in a thriving Lampasas location. The asking price is $475,000.

Property profile
Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 2006
Total area 6,865 SF
Lot 1.67 ac (72,745 SF)
APN 20215
UPID US82-5437050
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • El Frias Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$1.00M
Comparable Approach Comparable
$792k
Blend (final) Blend
$725k
Owner & transaction history
JAMES LEE HOFFPAUIR
JAMES LEE HOFFPAUIR
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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More about this property
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