Multi-Building Office
For Sale
Contact for pricing
600 S Buchanan St, Amarillo, TX 79101
Three office buildings offer multiple available suites totaling divisible space across Buildings A, B, and C.
Property Size19,243 SF
Price / SF$198.05
Days on Market553
Property Features for 600 S Buchanan St
General Information
Standard status
Active
Size
19,243 SF
Property subtype
OFFICE
Listing Agency:
Llano Real Estate Group
(806) 392-9912
Listed By:
Josh Langham · License #0664099
(806) 236-3736
Source:
Moodyscre
Added: Mar 11, 2025
Changed: Sep 6
Last Checked: Sep 13 at 9:20AM
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 Llano Real Estate Group
Investment Insights
Based on property information with market context.
The offering includes three separate office buildings with divisible space available. Building A provides 10,363 square feet of available divisible space. Building B totals 9,889 divisible square feet and includes 5,030 square feet available. Building C offers 3,850 divisible square feet available.
The property is located at 600 S Buchanan St in Amarillo, Texas. Its multi-building layout can support a variety of office tenancy needs while keeping building-by-building space availability defined.
Total property size is 19,243 square feet, comprised of the three buildings described above, with current availability spread between Buildings A, B, and C.
The property is located at 600 S Buchanan St in Amarillo, Texas. Its multi-building layout can support a variety of office tenancy needs while keeping building-by-building space availability defined.
Total property size is 19,243 square feet, comprised of the three buildings described above, with current availability spread between Buildings A, B, and C.
Key Highlights
- Three office buildings with multiple available suites: Building A, B, and C
- Building A offers 10,363 divisible SF available
- Building B totals 9,889 divisible SF, with 5,030 SF available
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
$220,813
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
5.79%
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%
$4,416,260
$4.4M
Cap Rate 7%
$3,154,471
$3.2M
Cap Rate 9%
$2,453,478
$2.5M
Market Conditions
NOI Build-Up for 19,243 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
$346.4K $18.00/SF
− Vacancy
−$52.0K −$2.70/SF
EGI
$294.4K $15.30/SF
− OpEx
−$73.6K −$3.82/SF
NOI
$220.8K $11.48/SF
Area
Amarillo, TX
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,416,260
Cap Rate 7%
$3,154,471
Cap Rate 9%
$2,453,478
Alternative Uses
Best Use
Office B
$3.15M
$2.76M – $3.68M
NOI $220,813 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.30M
$3.76M – $5.01M
NOI $300,745 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,043
Businesses Nearby
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Three office buildings offer multiple available suites totaling divisible space across Buildings A, B, and C.
Where is this office building located?
The property is located at 600 S Buchanan St Amarillo, TX.
What is the asking price?
The asking price for this property is $3,811,005.
What are key features of this property?
This property features: Three office buildings with multiple available suites: Building A, B, and C; Building A offers 10,363 divisible SF available; Building B totals 9,889 divisible SF, with 5,030 SF available
