Convenience Store with Drive-Up
For Sale
$650,000
Pending
1021 Martin Road, Amarillo, TX 79107
Commercial Sale, Amarillo, TX
Property Size2,613 SF
Days on Market62
Property Features for 1021 Martin Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0300 - NE Amarillo in City Limits
Directions
At the corner of Martin Rd and Dale
Subdivision
0320 - Martin Road
Standard status
Pending
APN
212666
Size
2,613 SF
Taxes and HOA fees
Tax Description
MARCELLA ADDN # 1, LOT 001, BLK 0001
Legal Description
MARCELLA ADDN # 1, LOT 001, BLK 0001
Utilities
Cooling system
Central Air
Building Details
Year built
1976
Flooring type
Tile
Building materials
Brick Veneer
Listing Agency:
Van Pelt Real Estate
(806) 373-2566
Listed By:
Apryll Van Pelt · License #669660
(806) 648-4444
Added: Jul 6
Changed: Sep 5
Last Checked: Sep 5 at 10:06PM
MLS# 26-4622
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 operating convenience store occupies a 2,613-square-foot building constructed in 1976. The property includes a drive-up window, customer parking, brick veneer construction, tile flooring, and central air conditioning. Its existing configuration supports continued convenience retail use.
The property is located at 1021 Martin Road in Amarillo, Texas, near medical centers and apartment complexes. The site is also positioned across from the lake, providing a recognizable setting for the existing retail operation.
The property is located at 1021 Martin Road in Amarillo, Texas, near medical centers and apartment complexes. The site is also positioned across from the lake, providing a recognizable setting for the existing retail operation.
Key Highlights
- 2,613‑square‑foot convenience store building
- Drive‑up window for customer service
- Customer parking on the property
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
$30,948
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
4.76%
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%
$618,960
$619.0K
Cap Rate 7%
$442,114
$442.1K
Cap Rate 9%
$343,867
$343.9K
Market Conditions
NOI Build-Up for 2,613 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
$43.9K $16.80/SF
− Vacancy
−$2.6K −$1.01/SF
EGI
$41.3K $15.79/SF
− OpEx
−$10.3K −$3.95/SF
NOI
$30.9K $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%
$618,960
Cap Rate 7%
$442,114
Cap Rate 9%
$343,867
Alternative Uses
Best Use
Specialty Retail
$442.1K
$386.9K – $515.8K
NOI $30,948 @ 7.0% cap · market cap 4.76%
Second Best
Retail
$360.6K
$315.5K – $420.7K
NOI $25,242 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$583.4K
$510.5K – $680.6K
NOI $40,838 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
450
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- 东方 — 2216 E Amarillo Blvd, Amarillo, TX 79107
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Operating convenience store with a drive-up window, customer parking, and a corner-site position near medical and residential uses.
Where is this grocery and convenience store located?
The property is located at 1021 Martin Road Amarillo, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,613‑square‑foot convenience store building; Drive‑up window for customer service; Customer parking on the property
