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    501 Grant St Amarillo, TX 79101

    For Sale
    $1,425,000

    Mixed-use, 42,096 SF + 28,000 SF basement

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    311
    This exceptional redevelopment opportunity encompasses three parcels totaling 1.05 acres in vibrant downtown Amarillo, Texas. The property consists of three buildings at 501, 509, and 517 S. Grant Street, offering a combined 42,096 square feet of above-ground space, complemented by an additional approximately 28,000 square feet of basement area. The main building at 501 S. Grant Street boasts 28,096 square feet spread across two floors, presenting versatile office and warehouse potential. A convenient freight elevator connects both levels to the extensive basement. The structure at 509 S. Grant Street comprises 14,000 square feet, recently updated with modern windows, overhead doors, and a refreshed front porch. This building also benefits from freight elevator access to both the ground floor and basement. Finally, the 15,246 square foot lot at 517 S. Grant Street is fully fenced, ideal for secure storage or ample parking. This unique property presents a significant chance to revitalize a prime downtown location, offering substantial space and diverse usage possibilities. The combined lot size of 1.05 acres provides ample room for expansion or future development. This is a rare opportunity to acquire a substantial mixed-use property in a thriving urban core. The property's size and location make it an attractive investment for developers and businesses seeking a prominent downtown Amarillo presence.

    Property Features for 501 Grant St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    45,738 SF

    Building Details

    Year Built
    1924
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Law Firm Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.8277
    Latitude
    35.20724

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    FAQs

    What type of property is this?
    Commercial real estate - Mixed-use, 42,096 SF + 28,000 SF basement
    Where is this commercial real estate located?
    The property is located at 501 Grant St Amarillo, TX.
    What is the asking price?
    The asking price for this property is $1,425,000.
    (806) 373-3111
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    501 Grant St Amarillo, TX 79101
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    Realmo Value Estimation

    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.

    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.

    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
    501 Grant St Amarillo, TX 79101
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