Flex Space with Overhead
For Sale
$660,000
4533 CANYON Drive, Amarillo, TX 79110
Commercial Sale, Amarillo, TX
Property Size6,000 SF
Lot Size0.52 Acres
Price / SF$105.60
Days on Market71
Property Features for 4533 CANYON Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0400 - SE Amarillo in City Limits
Parking features
Parking Lot
Directions
Canyon Drive and I-27
Subdivision
0420 - South Georgia
Standard status
Active
APN
217734
Size
6,250 SF
Lot size
0.52 Acres
Taxes and HOA fees
Tax Description
MC CARTY ADDN # 13 BLK 0006 3 LESS 36 SQ FT TR IN NLY COR 0.5200 ACRES
Legal Description
MC CARTY ADDN # 13 BLK 0006 3 LESS 36 SQ FT TR IN NLY COR 0.5200 ACRES
Utilities
Cooling system
Electric
Building Details
Year built
2003
Building materials
Metal Fab
Roof type
Metal
Listing Agency:
Keller Williams Realty Amarillo
Listed By:
Bobby Tyler
(806) 359-4000
Added: Jun 29
Changed: Aug 19
Last Checked: Sep 7 at 1:06PM
MLS# 26-1871
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 6,250-square-foot flex property, built in 2003, offers a practical combination of industrial work areas and office space. The layout includes two separate insulated bays, a rear shop with gas heat, three 14' x 14' overhead doors, and a dedicated office area. Metal fabrication construction, electric cooling, a metal roof, and a parking lot complete the existing improvements.
The property sits along Canyon Drive near I-27 in Amarillo, with the corridor identified at 55,000 AADT. Its commercial setting and direct access to major roadways support a range of business operations requiring enclosed work areas, vehicle access, and administrative space.
The property sits along Canyon Drive near I-27 in Amarillo, with the corridor identified at 55,000 AADT. Its commercial setting and direct access to major roadways support a range of business operations requiring enclosed work areas, vehicle access, and administrative space.
Key Highlights
- 6,250 SF flex property built in 2003
- Three 14' x 14' overhead doors
- Two separate insulated bay areas
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
$48,960
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
7.42%
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%
$979,200
$979.2K
Cap Rate 7%
$699,429
$699.4K
Cap Rate 9%
$544,000
$544.0K
Market Conditions
NOI Build-Up for 6,250 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
$60.0K $9.60/SF
− Vacancy
−$2.4K −$0.38/SF
EGI
$57.6K $9.22/SF
− OpEx
−$8.6K −$1.38/SF
NOI
$49.0K $7.83/SF
Area
Amarillo, TX
Vacancy
4.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$979,200
Cap Rate 7%
$699,429
Cap Rate 9%
$544,000
Alternative Uses
Best Use
Warehouse
$699.4K
$612.0K – $816.0K
NOI $48,960 @ 7.0% cap · market cap 7.42%
Second Best
Flex RnD
$640.7K
$560.6K – $747.5K
NOI $44,850 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,680 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79110, TX
18,285
Population
7,760
Households
2.4
Avg Household Size
35
Median Age
15%
College-Educated
91%
High-School Grad
5.4 sq mi
ZIP Area
3,386
Density / Sq Mi
$65,896
Median Household Income
$39,833
Median Earnings
$1,173
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Metal construction includes insulated bays, a gas-heated shop, and dedicated office space.
Where is this flex space located?
The property is located at 4533 CANYON Drive Amarillo, TX.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: 6,250 SF flex property built in 2003; Three 14' x 14' overhead doors; Two separate insulated bay areas
