Versatile Commercial Property in
1502 S Lipscomb Street Amarillo, TX 79102
1502 S Lipscomb Street, Amarillo, TX, 79102
$275,000
For Sale
$275,000
COMMERCIAL - Amarillo, TX
Property Size3,916 SF
Price / SF$70.22
Days on Market69
Property Features for 1502 S Lipscomb Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Parking
- 5
- Standard status
- Active
- APN
- 214583
- Size
- 3,916 SF
Taxes and HOA fees
- Tax Description
- CENTRAL SQUARE ADDN, LOT 002, BLK 0002
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1941
Listing agency
Gaut Whittenburg Emerson Commercial Real Estate, LLC
(806) 373-3111
Listed by
Meagan Brown · License ##800118
(806) 373-3111
Added: May 14 Updated: Jun 8 at 5:31PM Checked: Jul 21 at 9:06PM
MLS# 26-3913
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 versatile free-standing commercial property in Amarillo, Texas, offers an ideal combination of office and warehouse space with convenient access just off I-40. Centrally located near downtown and major supply vendors, the property is well suited for roofing, plumbing, wholesale, retail sales, or other commercial operations. The updated office area includes a reception area, private offices, a conference room, a kitchen/break area, ample storage, and two restrooms. Recent improvements include a newer roof, updated HVAC systems, LED lighting, and gutters. The warehouse features pull-through access with two 8-foot overhead doors, three-phase electrical service, compressed air lines, and a fenced side yard. The property, located at 1502 S Lipscomb Street, Amarillo, TX 79102, is situated in Potter County and encompasses a total of 3,916 square feet. This property presents an excellent opportunity for a wide range of commercial uses.
Key Highlights
- Convenient access just off I‑40 and centrally located near downtown and major supply vendors.
- Updated office area with reception, private offices, conference room, kitchen/break area, ample storage, and two restrooms.
- Warehouse with pull‑through access via two 8‑foot overhead doors.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.2k | $9.00 |
| − Vacancy | −$1.6k | −$0.41 |
| EGI | $33.7k | $8.59 |
| − OpEx | −$10.1k | −$2.58 |
| NOI | $23.6k | $6.02 |
3,916 SF · lease $9.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Office B
$641.9K
$561.7K – $748.9K
NOI $44,936 @ 7.0% cap · market cap 16.34%
Second Best
Warehouse
$438.2K
$383.5K – $511.3K
NOI $30,676 @ 7.0% cap · market cap 11.15%
Theoretical Best
Office A
$874.3K
$765.0K – $1.02M
NOI $61,202 @ 7.0% cap · market cap 22.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
C & E Mechanical
General Contractor
Verity Mechanical
HVAC Service
Lowrance Construction Group
Construction Company
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FAQs
What type of property is this?
Flex space - Office and warehouse combination with convenient access near downtown.
Where is this flex space located?
The property is located at 1502 S Lipscomb Street Amarillo, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Convenient access just off I‑40 and centrally located near downtown and major supply vendors.; Updated office area with reception, private offices, conference room, kitchen/break area, ample storage, and two restrooms.; Warehouse with pull‑through access via two 8‑foot overhead doors.
