518 5Th StTemple, TX 76501

Property Details for 518 5Th St

Year built

1950

Lot size

0.38 AC

Property size (Sq ft)

5,059 SF

Zone code

CA

Property type

Commercial real estate

APN

126055

APU

126055

Description

This 5,059-square-foot, single-story office building, constructed in 1950 and renovated in 2019, sits on a 0.38-acre lot in Temple, Texas (76501). Located just north of the downtown area, near the Historical District, and within a Federal Hub Zone, this property offers significant potential. The building features ten partially furnished offices, a reception area, waiting area, conference room, six restrooms, a server room, two administrative rooms, two storage rooms, and six utility rooms. An additional one-bedroom apartment with a kitchen, laundry room, and media room is also included and could be converted into additional office space. The property includes 18 parking spaces and is zoned for Neighborhood Services, allowing for diverse uses such as professional offices, medical facilities, ministry, school, daycare, salon, convenience store, bank, cleaners, or florist. Modern amenities include Cat 6 internet cable, a phone system, and a security system. The asking price is $450,000 ($88.95/sq ft). Note that two storage buildings in the adjacent parking lot are excluded from the sale. The property is currently vacant and offers a great investment opportunity, with potential for individual office leasing as co-working suites. The property is offered at 100% ownership. APN is 47072.

• CAP approach

  CAP return

  Valuation

  6%

  $1,250,270

  6.5%

  $1,154,100

  7%

  $1,071,660

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,514,610

  Geo Method

  $1,514,610

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,140,660

  Retail / Commercial

  $1,123,460

  Mixed-Use / Specialty

  $1,139,740

  Hospitality / Lodging

  $862,599

  Office

  $1,154,100

  Institutional / Educational

  $1,192,120

  Residential Income

  $1,394,780

  Multifamily

  $1,560,370

  Automotive / Energy

  $1,021,820

  Parking / Income-Based Land

  $332,576

  Restaurant / Food Service

  $636,076

  Healthcare / Senior Housing

  $1,147,980

Location Insight

City

Temple

County

Bell

State

Texas

Latitude

31.1029

Longitude

-97.3423

CBSA code

28660

CBSA name

KILLEEN-TEMPLE-FORT HOOD, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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