High Visibility Retail
For Sale
$1,800,000
100 W Westgate Parkway, Amarillo, TX 79121
Retail building near I-40 and Westgate Mall available for sale.
Property Size14,461 SF
Price / SF$124.47
Days on Market151
Property Features for 100 W Westgate Parkway
General Information
Standard status
Active
Size
14,461 SF
Property subtype
Commercial
Building Details
Year Built
1989
Listing Agency:
Gaut Whittenburg Emerson Commercial Real Estate, LLC
(806) 433-5407
Listed By:
Meagan Brown · License #800118
Source:
Shopamarillohomes
Added: Mar 26
Changed: Aug 23
Last Checked: Aug 22 at 9:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gaut Whittenburg Emerson Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This building offers an opportunity to own or lease in a high visibility location near I-40 and Westgate Mall. The property features two front door entrances and ample parking. Inside, there are 11 offices, 4 bathrooms, and storage rooms. HVAC systems are in place for temperature control. A new hot water heater was installed in 2021, and the roof was replaced in 2017. The property is situated near national restaurants and retailers such as Target and Best Buy. The property size is 14461 square feet.
Key Highlights
- High visibility location near I‑40 and Westgate Mall
- Ample parking and two front door entrances
- Features 11 offices and 4 bathrooms
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
$139,693
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
7.76%
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%
$2,793,860
$2.8M
Cap Rate 7%
$1,995,614
$2.0M
Cap Rate 9%
$1,552,144
$1.6M
Market Conditions
NOI Build-Up for 14,461 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
$216.9K $15.00/SF
− Vacancy
−$17.4K −$1.20/SF
EGI
$199.6K $13.80/SF
− OpEx
−$59.9K −$4.14/SF
NOI
$139.7K $9.66/SF
Area
Amarillo, TX
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,793,860
Cap Rate 7%
$1,995,614
Cap Rate 9%
$1,552,144
Alternative Uses
Best Use
Retail
$2.00M
$1.75M – $2.33M
NOI $139,693 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.23M
$2.83M – $3.77M
NOI $226,008 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
Business Placement
Demographics for 79121, TX
6,601
Population
2,953
Households
2.2
Avg Household Size
46
Median Age
47%
College-Educated
98%
High-School Grad
1.8 sq mi
ZIP Area
3,667
Density / Sq Mi
$66,438
Median Household Income
$37,578
Median Earnings
$976
Median Rent
$254,100
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?
Retail space - Retail building near I-40 and Westgate Mall available for sale.
Where is this retail space located?
The property is located at 100 W Westgate Parkway Amarillo, TX.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: High visibility location near I‑40 and Westgate Mall; Ample parking and two front door entrances; Features 11 offices and 4 bathrooms
