Flex Space with Fenced
For Sale
$220,000
919 Sw 8th Avenue, Amarillo, TX 79101
Flex property includes a large fully fenced lot, three private offices, and a sizeable heated and cooled shop.
Property Size2,100 SF
Price / SF$104.76
Days on Market48
Property Features for 919 Sw 8th Avenue
General Information
Standard status
Active
Size
2,100 SF
Property subtype
Commercial
Additional Details
Fenced Yard
Yes
Heavy Power
Yes
Amenities
3 private offices
reception area
large shop
full Heat and Air
fully insulated roof
Building Details
Year Built
1945
Listing Agency:
Pace Realty Group
Listed By:
Jarec Pace · License #0652486
(806) 672-9579
Source:
Shopamarillohomes
Added: Jul 23
Changed: Aug 28
Last Checked: Aug 24 at 6:51AM
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 Pace Realty Group
Investment Insights
Based on property information with market context.
This flex space is set up for both office and shop use, featuring three private offices and a reception area. The property also includes a large shop area with full heat and air in all spaces, along with a fully insulated roof designed to help manage operating costs. Electrical service is described as three-phase to support a range of operational needs.
The offering includes a large lot that is fully fenced with solid metal fencing, providing defined outdoor space for activities that require separation and control.
Overall, the layout combines dedicated office rooms with a substantial, climate-controlled shop component within a secured fenced yard.
The offering includes a large lot that is fully fenced with solid metal fencing, providing defined outdoor space for activities that require separation and control.
Overall, the layout combines dedicated office rooms with a substantial, climate-controlled shop component within a secured fenced yard.
Key Highlights
- Flex property built in 1945 with a large, fully fenced lot
- Includes 3 private offices plus a reception area
- Large shop with heat and air in all spaces
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
$15,070
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
6.85%
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%
$301,400
$301.4K
Cap Rate 7%
$215,286
$215.3K
Cap Rate 9%
$167,444
$167.4K
Market Conditions
NOI Build-Up for 2,100 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
$25.2K $12.00/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$23.2K $11.04/SF
− OpEx
−$8.1K −$3.86/SF
NOI
$15.1K $7.18/SF
Area
Amarillo, TX
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$301,400
Cap Rate 7%
$215,286
Cap Rate 9%
$167,444
Alternative Uses
Best Use
Office B
$344.3K
$301.2K – $401.6K
NOI $24,098 @ 7.0% cap · market cap 10.95%
Second Best
Flex RnD
$215.3K
$188.4K – $251.2K
NOI $15,070 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$468.9K
$410.3K – $547.0K
NOI $32,820 @ 7.0% cap · market cap 14.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,645
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79101, TX
2,307
Population
1,309
Households
1.8
Avg Household Size
51
Median Age
15%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
1,442
Density / Sq Mi
$40,313
Median Household Income
$36,409
Median Earnings
$898
Median Rent
$152,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property includes a large fully fenced lot, three private offices, and a sizeable heated and cooled shop.
Where is this flex space located?
The property is located at 919 Sw 8th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Flex property built in 1945 with a large, fully fenced lot; Includes 3 private offices plus a reception area; Large shop with heat and air in all spaces
