1305 S Key Ave, Lampasas, TX 76550

Bring your vision to Lampasas with this 20,000 square-foot two-story office building. Use it or remove it! This location reaps the benefits of a THREE HIGHWAY corridor where ALL THREE MAJOR Highways, Highway 281, Highway 183 and Highway 190 flow through ever-growing Lampasas Texas. Current daily Texdot car count of 15,720 and 200 feet of highway frontage, this corner lot is just a stone's throw and in view of a major intersection of Highway 190 and the connection route to Highway 281. The established building serves as home to several tenants and has room for even more. As a general income investment or the future location of another venture, the attached oversized parking lot allows for ample parking or additional building space. The current seller owns additional land across the side street that can be purchased, adding to your vision, offering even more possibilities.

The defining advantage here is exposure and access: 1305 S Key Ave sits in Lampasas on a three-highway corridor tied to Highway 281, Highway 183, and Highway 190, with a reported daily TexDOT traffic count of 15,720 vehicles and about 200 feet of highway frontage. In Lampasas, that combination gives this commercial site a level of visibility that is hard to replicate, especially on a 0.88-acre corner lot positioned near the Highway 190 intersection and the connection route to Highway 281.

The asset itself is a 20,000 square-foot, two-story office building built in 1990 and offered at $1.60M, which places the pricing at about $80 per square foot. That matters because this is not just a land play. There is already a substantial existing structure in place, and the building currently serves several tenants with room for more. For a buyer focused on income, that creates a basis for immediate use and leasing potential. For a buyer focused on repositioning, the existing improvements can be measured against the frontage, traffic count, and corner-lot exposure to determine whether the current building is the best use of the site.

The oversized parking area is a major part of the equation. On commercial property, parking is not secondary. It affects tenant mix, customer access, and redevelopment flexibility. Here, the parking lot appears to do more than support the current occupancy. It also creates room for a buyer to study expanded parking demand or added building area as part of a broader plan. The seller has also indicated that land across the side street may be available separately, which introduces the possibility of a larger footprint for a buyer who wants more control over the immediate surroundings.

This is the kind of property sophisticated commercial buyers look at in layers. The first layer is existing income. The second is corridor visibility and highway linkage. The third is what the site can become over time as Lampasas continues to benefit from movement along Highway 281, Highway 183, and Highway 190. At 26 days on market, 1305 S Key Ave stands out less for polish than for position, frontage, and the ability to support both current business use and a longer-term strategic hold.