224 E Avenue D
Killeen, TX 76541
Retail Property For Sale
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INVESTMENT HIGHLIGHTS
- Corner Property at a four way stop. Your business can not be missed. Plenty of street parking
- The Downtown Businesses Association is very active and tons of activities are constantly held in downtown area.
- City of Killeen has done a fabulous work cleaning and upgrading the downtown.
EXECUTIVE SUMMARY
The property has two floors. The ground floor has a 5 year lease tenant, a successful sports bar. The second floor is currently vacant. Both floors are each 1422 sq ft. Once the second floor is leased, your cap rate will double. Building is also eligible for a façade grant, sign grant, fee waivers and tax abatement offered by the City of Killeen Planning Department (Historic Overlay District).
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,844 SF
Building Class
C
Year Built/Renovated
1903/2015
Price
$600,000
Price Per SF
$211
Cap Rate
6.20%
NOI
$37,200
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.03 AC
Zoning
B-5 - This property is currently zoned B5 which is the City's least restrictive zoning district most recently utilized as a trendy, popular sports bar.
Frontage
60 FT on Avenue D
AMENITIES
- Corner Lot
- Security System
- Air Conditioning
PROPERTY TAXES
Parcel Number | 131446 | Improvements Assessment | $64,768 |
Land Assessment | $4,867 | Total Assessment | $69,635 |