Three-Building Mixed-Use
New
For Sale
$250,000
1005 N Fillmore Street, Amarillo, TX 79107
Flexible commercial compound with open interiors, event functionality, and warehouse space leased to an existing tenant.
Property Size2,678 SF
Price / SF$93.35
Days on Market6
Property Features for 1005 N Fillmore Street
General Information
Standard status
Active
Size
2,678 SF
Property subtype
Commercial
Building Details
Year Built
1928
Buildings
3
Listing Agency:
French and Co., REALTORS
Listed By:
Douglas Campbell · License #CAM
(806) 356-9086
Source:
Choosemeraki
Added: Sep 21
Last Checked: Sep 26 at 4:07AM
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 French and Co., REALTORS
Investment Insights
Based on property information with market context.
This mixed-use property includes three commercial buildings constructed in 1928. The improvements offer an open interior footprint that can accommodate retail, restaurant, lounge, event, or creative redevelopment concepts, subject to applicable requirements. One portion functions as a warehouse and is occupied by a tenant under lease.
The property is located at 1005 N Fillmore Street in Amarillo, Texas. Its setting is described as walkable, positioned near major thoroughfares, and associated with strong traffic counts. The property also includes a venue suitable for weddings, parties, community gatherings, live music, and private events, providing a range of existing commercial configurations within the site.
The property is located at 1005 N Fillmore Street in Amarillo, Texas. Its setting is described as walkable, positioned near major thoroughfares, and associated with strong traffic counts. The property also includes a venue suitable for weddings, parties, community gatherings, live music, and private events, providing a range of existing commercial configurations within the site.
Key Highlights
- Three commercial buildings at 1005 N Fillmore Street
- Buildings constructed in 1928
- Open interior footprint for retail, restaurant, lounge, event, or creative redevelopment uses
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
$20,978
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
8.39%
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%
$419,560
$419.6K
Cap Rate 7%
$299,686
$299.7K
Cap Rate 9%
$233,089
$233.1K
Market Conditions
NOI Build-Up for 2,678 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
$25.7K $9.60/SF
− Vacancy
−$1.0K −$0.38/SF
EGI
$24.7K $9.22/SF
− OpEx
−$3.7K −$1.38/SF
NOI
$21.0K $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%
$419,560
Cap Rate 7%
$299,686
Cap Rate 9%
$233,089
Alternative Uses
Best Use
Mixed Use
$413.2K
$361.5K – $482.0K
NOI $28,922 @ 7.0% cap · market cap 11.57%
Second Best
Retail
$369.6K
$323.4K – $431.2K
NOI $25,869 @ 7.0% cap · market cap 10.35%
Theoretical Best
Office A
$597.9K
$523.2K – $697.6K
NOI $41,854 @ 7.0% cap · market cap 16.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
538
Businesses Nearby
Explore this area
Business Placement
Demographics for 79107, TX
37,480
Population
12,346
Households
3
Avg Household Size
34
Median Age
6%
College-Educated
61%
High-School Grad
19.6 sq mi
ZIP Area
1,912
Density / Sq Mi
$39,474
Median Household Income
$28,084
Median Earnings
$1,016
Median Rent
$88,400
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial compound with open interiors, event functionality, and warehouse space leased to an existing tenant.
Where is this mixed-use property located?
The property is located at 1005 N Fillmore Street Amarillo, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Three commercial buildings at 1005 N Fillmore Street; Buildings constructed in 1928; Open interior footprint for retail, restaurant, lounge, event, or creative redevelopment uses
