Warehouse with Business
For Sale
$1,250,000
117 N POLK Street, Amarillo, TX 79107
Commercial Sale, Amarillo, TX
Property Size8,000 SF
Price / SF$156.25
Days on Market169
Property Features for 117 N POLK Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Directions
From central Amarillo (near I-40), drive north on Washington St toward downtown, turn right on NW 3rd Ave, then left on Polk St. Continue about 2 blocks north to 117 N Polk St. Drive time is about 5-10 minutes.
Subdivision
0100 - Plemons
Standard status
Active
APN
217700
Size
8,000 SF
Taxes and HOA fees
Tax Description
GLIDDEN & SANBORN, BLK 0172, 1 PLUS 3FT X 150FT VAC ST ON N/L & ALL OF 2 PLUS VACATED ALLEY
Legal Description
GLIDDEN & SANBORN, BLK 0172, 1 PLUS 3FT X 150FT VAC ST ON N/L & ALL OF 2 PLUS VACATED ALLEY
Building Details
Year built
2000
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Mark Roberson · License #0561898
(806) 359-4000
Added: Mar 8
Changed: Aug 19
Last Checked: Aug 24 at 8:06AM
MLS# 26-2033
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 8,000-square-foot warehouse, built in 2000, is currently used by a plumbing company. The sale includes the building along with most on-site inventory, equipment, a company van, and a company truck, creating a combined real estate and operating-asset package.
The property is in downtown Amarillo with access to major roads and local suppliers. Its existing use and included business assets provide a functional base for plumbing operations, HVAC work, contracting, or another service-based business, as supported by the current configuration and included equipment.
The property is in downtown Amarillo with access to major roads and local suppliers. Its existing use and included business assets provide a functional base for plumbing operations, HVAC work, contracting, or another service-based business, as supported by the current configuration and included equipment.
Key Highlights
- 8,000‑square‑foot warehouse built in 2000
- Currently operating as a plumbing company
- Most on‑site inventory and equipment included
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - Operating plumbing-company facility with equipment, inventory, and commercial vehicles included in the sale.
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: 8,000‑square‑foot warehouse built in 2000; Currently operating as a plumbing company; Most on‑site inventory and equipment included
