Temple, TX Office Property For Sale

Private off-street/on-street/parking garage parking. 3 floors. 1st floor is 10,545sf, both 2nd and 3rd floors are 6,424sf each. Price includes furniture & generator and is contingent upon a parking/access agreement for 5 S. 1st St. Texell Credit Union will execute a lease back of the property until June 2024. The property will be restricted from further use as a credit union other than Texell.

Property Type/Sub-Type: Professional Office / General Office.

Description: ±13,080 Square Feet. Single-Tenant Freestanding Office Building in Downtown Temple's CBD. Complete interior & exterior renovations completed in September 2020.

Location: Located at West Calhoun Ave, North 7th Street & North 5th Street in Downtown Temple CBD. Near Temple Fire & Rescue Central Station, KCEN-TV Station, ExtraCo Bank, Santa Fe Plaza, Temple EDC, Temple ISD Admin., Temple City Hall & more.

Region/MSA: Central Texas/Killeen-Temple-Ft.Hood.

Lease: 7 Years Left on a 10-Year Lease to MRB Group. Rate Fixed for 5-years, Annual Escalations in years 6-10. Modified Gross Terms.

Investment Type: Stabilized.

Class: B

Tenancy: Single

Square Footage: ±13,080

Occupancy: 100%

NOI: $136,506

Price/SF: $173

Cap Rate: 6%

Year Built: 1990

Year Remodeled: Q4 2020

Lot Size: ±1.2672 Acres (240' x 230').

Zoning: CA-Central Area.

◆ 100% LEASED

◆ GROWTH MARKET North of Austin, TX

◆ BUILT-TO-SUIT for Tenant in 2013

◆ Annual RENT ESCALATIONS (Minimum 2% Per Year)

Description: ±0.64 acres (±27,878 Sq.Ft.) commercial re-development site. Two buildings on-site which need to be razed.

Land Use: Ideal for Office, Retail or Multi-Family.

Location: Located on South 1st Street, at the intersection of 1st & 3rd. Locally between Downtown and TMED Districts, Regionally between Austin & Waco. Located within the SIZ Grant area.

Frontage: Access along ±220’ of Linear Frontage on South 1st & Secondary Access along ±110’ of Frontage on W Ave D.

Zoning: Zoned LI (Light Industrial). Future Land Use Plan shows Downtown Transitional. Within the 1st & 3rd Overlay District.

Utilities: City of Temple Water (2") at South 1st Street. City of Temple Sewer (8” Gravity) in alley. O.H. Single-Phase Electric (Oncor) West Ave D.

Topography: Mostly flat. Asphalt covered lot.

Hydrology: Does NOT appear to be within the 100-year FEMA Flood Zone.

Price: $525,000 ($18.83/SF).

Great DOWNTOWN location

Excellent VISIBILITY along Main Street

NEW Roof (December 2023)