Wedding Venue with
For Sale
$2,200,000
1134 East Loop 335 South, Amarillo, TX 79118
Event property combines a reception hall, two homes, bridal suite, pool, gardens, and operational support spaces.
Property Size13,900 SF
Days on Market132
Property Features for 1134 East Loop 335 South
General Information
Standard status
Active
Size
13,900 SF
Property subtype
Schools/Education
Additional Details
Highway Access
Yes
Amenities
built-in bar
buffet serving area
DJ station
back kitchen
commercial ice machine
decorating den
main garden with patio furnishings
140-year-old gazebo
fire pits
solar-heated pool with outdoor kitchen
greenhouses
storage buildings
Building Details
Building Size
13,900 SF
Listing Agency:
Gaut Whittenburg Emerson Commercial Real Estate
(806) 670-0328
Listed By:
Sheril Blackburn
(806) 670-0328
Source:
Thebrokerlist
Added: Apr 21
Changed: Aug 29
Last Checked: Aug 29 at 11:21PM
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 Gaut Whittenburg Emerson Commercial Real Estate
Investment Insights
Based on property information with market context.
This wedding and event property combines a 7,200-square-foot reception hall with 400 square feet of additional venue space. The event facilities include a built-in bar, buffet area, DJ station, back kitchen, service entrance, commercial ice machine, decorating room, and guest restrooms. The grounds add a garden, patio furnishings, fire pits, a solar-heated pool, outdoor kitchen, pool restroom, greenhouses, and storage buildings.
Two residences support on-site living or guest accommodations. The 3,500-square-foot main home has 3 bedrooms, 2.5 bathrooms, and an oversized two-car garage, while the 2,000-square-foot guest house includes 3 bedrooms, 2 bathrooms, a pool-access bathroom, and a one-car garage. An 800-square-foot bridal suite above the main garage provides a private preparation area, full bathroom, storage, and mini-split HVAC.
The property is in South Amarillo along Loop 335 within the I-27 corridor, with access to area hotels, restaurants, and retail centers. Ample parking supports event activity.
Two residences support on-site living or guest accommodations. The 3,500-square-foot main home has 3 bedrooms, 2.5 bathrooms, and an oversized two-car garage, while the 2,000-square-foot guest house includes 3 bedrooms, 2 bathrooms, a pool-access bathroom, and a one-car garage. An 800-square-foot bridal suite above the main garage provides a private preparation area, full bathroom, storage, and mini-split HVAC.
The property is in South Amarillo along Loop 335 within the I-27 corridor, with access to area hotels, restaurants, and retail centers. Ample parking supports event activity.
Key Highlights
- 7,600 SF total event venue space, including a 7,200 SF reception hall and 400 SF additional space
- Two residences: 3,500 SF main home and 2,000 SF guest house
- 800 SF private bridal suite with full bathroom, storage room, and mini‑split HVAC
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
$150,120
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
6.82%
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%
$3,002,400
$3.0M
Cap Rate 7%
$2,144,571
$2.1M
Cap Rate 9%
$1,668,000
$1.7M
Market Conditions
NOI Build-Up for 13,900 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
$266.9K $19.20/SF
− Vacancy
−$26.7K −$1.92/SF
EGI
$240.2K $17.28/SF
− OpEx
−$90.1K −$6.48/SF
NOI
$150.1K $10.80/SF
Area
Amarillo, TX
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$3,002,400
Cap Rate 7%
$2,144,571
Cap Rate 9%
$1,668,000
Alternative Uses
Best Use
Mixed Use
$2.14M
$1.88M – $2.50M
NOI $150,120 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.10M
$2.72M – $3.62M
NOI $217,240 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 79118, TX
27,608
Population
11,116
Households
2.5
Avg Household Size
35
Median Age
25%
College-Educated
92%
High-School Grad
159.4 sq mi
ZIP Area
173
Density / Sq Mi
$87,011
Median Household Income
$44,141
Median Earnings
$1,328
Median Rent
$224,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Wedding venue - Event property combines a reception hall, two homes, bridal suite, pool, gardens, and operational support spaces.
Where is this wedding venue located?
The property is located at 1134 East Loop 335 South Amarillo, TX.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 7,600 SF total event venue space, including a 7,200 SF reception hall and 400 SF additional space; Two residences: 3,500 SF main home and 2,000 SF guest house; 800 SF private bridal suite with full bathroom, storage room, and mini‑split HVAC
