Turnkey Industrial
For Sale
$1,250,000
117 N Polk Street, Amarillo, TX 79107
Industrial warehouse offered with on-site inventory, equipment, and vehicles for immediate plumbing or service operations.
Property Size8,000 SF
Price / SF$156.25
Days on Market54
Property Features for 117 N Polk Street
General Information
Standard status
Active
Size
8,000 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Building Details
Year Built
2000
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Mark Roberson · License #0561898
Source:
Shopamarillohomes
Added: Jul 10
Changed: Aug 10
Last Checked: Aug 23 at 4:06AM
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 Keller Williams Realty Amarillo
Investment Insights
Based on property information with market context.
Industrial warehouse for sale currently operating as a plumbing company. The turnkey offering includes the warehouse, most on-site inventory, and equipment, along with the company van and truck.
The property is described as centrally located with convenient access to major roads and local suppliers.
This configuration supports a service-oriented business looking to begin operating right away using the included workspace and operational assets.
The property is described as centrally located with convenient access to major roads and local suppliers.
This configuration supports a service-oriented business looking to begin operating right away using the included workspace and operational assets.
Key Highlights
- Industrial warehouse built in 2000 in downtown Amarillo
- Currently operating as a plumbing company
- Includes on‑site inventory, equipment, and company van and truck
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
$62,669
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
5.01%
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%
$1,253,380
$1.3M
Cap Rate 7%
$895,271
$895.3K
Cap Rate 9%
$696,322
$696.3K
Market Conditions
NOI Build-Up for 8,000 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
$76.8K $9.60/SF
− Vacancy
−$3.1K −$0.38/SF
EGI
$73.7K $9.22/SF
− OpEx
−$11.1K −$1.38/SF
NOI
$62.7K $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%
$1,253,380
Cap Rate 7%
$895,271
Cap Rate 9%
$696,322
Alternative Uses
Best Use
Warehouse
$895.3K
$783.4K – $1.04M
NOI $62,669 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.79M
$1.56M – $2.08M
NOI $125,030 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,458
Businesses Nearby
Well-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 Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Downtown Self Storage — 921 SW 9th Ave, Amarillo, TX 79101
- SpaceMaker Storage — 900 S Madison St, Amarillo, TX 79101
- CW Storage - Downtown — 513 SW 6th Ave, Amarillo, TX 79118
- Wrench It Motor Club — 99 N Tyler St, Amarillo, TX 79101
- DOWNTOWN MINI STORAGE — 303 N Polk St, Amarillo, TX 79107
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse offered with on-site inventory, equipment, and vehicles for immediate plumbing or service operations.
Where is this warehouse located?
The property is located at 117 N Polk Street Amarillo, TX.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Industrial warehouse built in 2000 in downtown Amarillo; Currently operating as a plumbing company; Includes on‑site inventory, equipment, and company van and truck
