Remodeled Convenience
For Sale
$600,000
1000 SW 10TH Avenue, Amarillo, TX 79101
Commercial Sale, Amarillo, TX
Property Size3,216 SF
Price / SF$186.57
Days on Market57
Property Features for 1000 SW 10TH Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Parking features
Parking Lot
Directions
on the corner of 10th and Washington
Subdivision
0100 - Plemons
Standard status
Active
APN
212665
Size
3,216 SF
Taxes and HOA fees
Tax Description
MADDEN ADDN, LOT 010, BLK 0003
Legal Description
MADDEN ADDN, LOT 010, BLK 0003
Building Details
Year built
1957
Listing Agency:
Our Texas Real Estate
(512) 375-2380
Listed By:
Brittaney Bailey
(806) 648-4444
Added: Jul 13
Changed: Sep 5
Last Checked: Sep 7 at 10:06PM
MLS# 25-9329
Copyright © 2026 Amarillo Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,216-square-foot convenience store in Amarillo’s Plemons area combines a recently remodeled interior with updated finishes and an efficient operating layout. The property is fully stocked and configured for continued convenience-store use.
Built in 1957, the property includes a parking lot and is located at 1000 SW 10TH Avenue in Amarillo, Texas. Its established neighborhood setting and existing store improvements provide a straightforward format for an owner-operator or investor seeking a functioning retail property.
Built in 1957, the property includes a parking lot and is located at 1000 SW 10TH Avenue in Amarillo, Texas. Its established neighborhood setting and existing store improvements provide a straightforward format for an owner-operator or investor seeking a functioning retail property.
Key Highlights
- 3,216‑square‑foot convenience store
- Recently remodeled with updated finishes
- Fully stocked for convenience‑store operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,090
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,800
$761.8K
Cap Rate 7%
$544,143
$544.1K
Cap Rate 9%
$423,222
$423.2K
Market Conditions
NOI Build-Up for 3,216 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.0K $16.80/SF
− Vacancy
−$3.2K −$1.01/SF
EGI
$50.8K $15.79/SF
− OpEx
−$12.7K −$3.95/SF
NOI
$38.1K $11.84/SF
Area
Amarillo, TX
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,800
Cap Rate 7%
$544,143
Cap Rate 9%
$423,222
Alternative Uses
Best Use
Specialty Retail
$544.1K
$476.1K – $634.8K
NOI $38,090 @ 7.0% cap · market cap 6.35%
Second Best
Retail
$443.8K
$388.3K – $517.8K
NOI $31,067 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$718.0K
$628.3K – $837.7K
NOI $50,262 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,679
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79101, TX
2,307
Population
1,309
Households
1.8
Avg Household Size
51
Median Age
15%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
1,442
Density / Sq Mi
$40,313
Median Household Income
$36,409
Median Earnings
$898
Median Rent
$152,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - A fully stocked convenience store with updated finishes, efficient layout, and on-site parking.
Where is this grocery and convenience store located?
The property is located at 1000 SW 10TH Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 3,216‑square‑foot convenience store; Recently remodeled with updated finishes; Fully stocked for convenience‑store operations
