Remodeled Convenience
For Sale
$600,000
1000 10TH Avenue, Amarillo, TX 79101
Updated finishes, a practical layout, and existing stock support a ready-to-operate convenience retail format.
Property Size3,216 SF
Price / SF$186.57
Days on Market343
Property Features for 1000 10TH Avenue
General Information
Standard status
Active
Size
3,216 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Amenities
3
City Road.
Building Details
Year Built
1957
Listing Agency:
(806) 457-1822
Listed By:
Our Texas Real Estate
(806) 457-1822
Source:
Xome
Added: Sep 25, 2025
Changed: Sep 2
Last Checked: Sep 1 at 3:13PM
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 Our Texas Real Estate
Investment Insights
Based on property information with market context.
This 3,216-square-foot convenience store at 1000 SW 10th Avenue features a practical interior arrangement, updated finishes, and a recent remodel. The property is fully stocked and configured for continued convenience retail operations, providing an established physical setup for an owner-operator or investor.
The store is positioned in Amarillo’s Plemons area along a high-traffic corridor serving surrounding neighborhood demand. Built in 1957, the property combines an older commercial building with refreshed interior elements and an operating convenience-store format.
The store is positioned in Amarillo’s Plemons area along a high-traffic corridor serving surrounding neighborhood demand. Built in 1957, the property combines an older commercial building with refreshed interior elements and an operating convenience-store format.
Key Highlights
- 3,216‑square‑foot convenience store
- Recently remodeled with updated interior finishes
- Fully stocked for convenience retail 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 - Updated finishes, a practical layout, and existing stock support a ready-to-operate convenience retail format.
Where is this grocery and convenience store located?
The property is located at 1000 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 interior finishes; Fully stocked for convenience retail operations
