4400 Watercrest Rd Killeen, TX 76549

This 14,450-square-foot shopping center in Killeen, Texas, presents a compelling value-add opportunity. Currently 38% occupied with three tenants under triple-net (NNN) leases, the property offers significant upside potential by leasing the remaining vacancies. The center boasts a desirable location at the intersection of Watercrest Road and Windfield Drive, benefiting from approximately 10,508 vehicles per day. A large, double-sided monument sign enhances visibility. The building, constructed in 2011, features a metal roof and sits on a 1.35-acre lot with ample paved parking. Tenants include a mix of internet-resistant and service-oriented businesses. The property's strategic location near Fort Cavazos, AdventHealth Central Texas, and Central Texas College ensures a strong customer base within a densely populated area (over 135,145 residents within five miles). The asking price is $1,700,000 ($117.65/sq ft), representing a current NOI of $37,723 and a pro-forma NOI of $223,860, yielding a pro-forma cap rate of 13.17%. The property is surrounded by national and regional retailers, further enhancing its appeal and potential for increased occupancy and revenue. This is a rare opportunity to acquire a below-replacement-cost retail center in a high-growth market with substantial upside potential.