Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1515 S Garfield St Amarillo, TX 79102

    Sponsored
    For Sale
    $319,900

    COMMERCIAL - Amarillo, TX

    Property size:
    2,640 SF
    Lot size:
    0.40 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 24 at 7:06 am

    Property Features for 1515 S Garfield St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    152796
    Parking
    5
    Parking features
    Parking Lot
    Size
    2,640 SF
    Lot size
    0.40 Acres

    Utilities

    Cooling system
    Electric

    Building Details

    Flooring type
    Tile
    Building materials
    Metal Fab
    Roof type
    Metal

    We can help!

    Listing Contact
    The Thurman Group

    Dro Management I Inc dba Keller Williams Realty (806) 359-4000

    Listing agent The Connie Taylor Group

    Listing date Jan 20, 2026

    MLS# 26-707

    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.

    Learn more

    Property Insight Report

    Overview

    Commercial Property Near Downtown Amarillo

    This commercial property, situated on 0.4 acres, is located near I-40 and downtown Amarillo, Texas, in the Barrio within an Opportunity Zone. The heated and cooled 2,640 square-foot space features an entrance area, two offices, a shared workspace, a break area, a meeting room, two bathrooms, and an open call area. The flexible layout is adaptable to various business needs. Its proximity to downtown provides convenient access to the city center. The property presents opportunities for expansion, such as a larger yard or additional structures.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.827325
    Latitude
    35.196292

    Nearby Similar for Sale

    • $2,683,900

      Amarillo Multifamily Investment Opportunity

      Portfolio of 12 homes in Amarillo, TX for sale.
      Amarillo, TX 79109
      View Details
    • $299,900
      4,996 SF

      Remodeled Commercial Property with Apartment

      Unique remodeled commercial property with apartment and multiple amenities.
      1312 SW 15Th Ave, Amarillo, TX 79102
      View Details
    • $330,000
      0.51 Acres

      Amarillo Multifamily Investment Opportunity

      Five units in two buildings on three lots.
      1403 S Hughes St, Amarillo, TX 79102
      View Details
    • $1,190,000
      5,200 SF

      Turn-Key Amarillo Commercial Property

      Versatile commercial property with event space and residential loft.
      118 S Taylor St, Amarillo, TX 79101
      View Details
    • $1,160,000
      1,920 SF

      Versatile Amarillo Commercial Property

      Multi-use property suitable for business, livestock, and residential purposes.
      11616 Tanglewood Rd, Amarillo, TX 79118
      View Details
    • $999,000

      New Multifamily Investment Opportunity

      New construction quadplex in Amarillo, TX, built for rental efficiency.
      4010 Clive Ave, Amarillo, TX 79118
      View Details
    • $1,135,000

      Versatile Commercial Space in Amarillo

      Prime commercial property with updated offices and multiple amenities.
      512 NE 2Nd Ave, Amarillo, TX 79107
      View Details
    • $620,000
      38.55 Acres

      Barndominium on 38+ Acres

      Barndominium on 38.55 acres near Amarillo with pond.
      18501 Gold Rd, Amarillo, TX 79124
      View Details
    • $600,000
      10,559 SF

      Versatile Event Venue with Expansion

      Event venue with expansion space in Amarillo, Texas.
      3300 SE 10Th Ave, Amarillo, TX 79104
      View Details
    • $590,000

      Versatile Commercial Property in Amarillo

      Commercial property with warehouse, office space, and living quarters.
      305 S Williams St, Amarillo, TX 79102
      View Details
    • $349,000
      3,864 SF

      Amarillo Multi-Family Investment Opportunity

      Triplex and Duplex with five currently rented units for sale.
      3701 S Van Buren St, Amarillo, TX 79110
      View Details
    • $369,000
      1,100 SF

      Office & Warehouse with Expansion

      Versatile commercial property with office, warehouse, and room to grow.
      1041 N Forest St, Amarillo, TX 79106
      View Details

    FAQs

    What type of property is this?
    Office space - Versatile commercial space near I-40 and downtown in Opportunity Zone.
    Where is this office space located?
    The property is located at 1515 S Garfield St Amarillo, TX.
    What is the asking price?
    The asking price for this property is $319,900.
    What are key features of this property?
    This property features: - Strategic location near I-40 and downtown Amarillo.; - Located in an Opportunity Zone and NEZ2 (see documents).; - Heated and cooled space with a flexible layout adaptable to various business needs.
    (806) 359-4000
    Request Owner's contact information
    1515 S Garfield St Amarillo, TX 79102
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1515 S Garfield St
    Amarillo, TX 79102
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1515 S Garfield St Amarillo, TX 79102
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    The Thurman Group
    (806) 359-4000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.