Flex Space with Overhead
For Sale
Contact for pricing
511 N Fillmore St, Amarillo, TX 79107
Two-story flex space with a spray foam insulated shop, office area, and covered parking with fenced access.
Property Size3,440 SF
Price / SF$69.48
Days on Market927
Property Features for 511 N Fillmore St
General Information
Standard status
Active
Size
3,440 SF
Property subtype
OFFICE
Additional Details
Fenced Yard
Yes
Listing Agency:
Gaut Whittenburg Emerson CRE
(806) 373-3111
Listed By:
Gabe Iriving, CCIM
Source:
Moodyscre
Added: Apr 17, 2024
Changed: Oct 25
Last Checked: Oct 30 at 1:56PM
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 CRE
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Investment Insights
Based on property information with market context.
Flex space offering a spacious two-story office area with two restrooms and two offices. The warehouse unit includes a shop area and a restroom, and it is spray foam insulated.
Operational features include a 16' overhead door, covered parking, and a solid fence with two gates. The overall property size is 3,440 SF.
Designed for flexible use where office and warehouse functions are needed in the same building, the layout supports day-to-day work and on-site storage/handling through the enclosed shop and direct overhead-door access.
Operational features include a 16' overhead door, covered parking, and a solid fence with two gates. The overall property size is 3,440 SF.
Designed for flexible use where office and warehouse functions are needed in the same building, the layout supports day-to-day work and on-site storage/handling through the enclosed shop and direct overhead-door access.
Key Highlights
- 3,440 SF flex space with a two‑story office area
- Warehouse shop is spray foam insulated
- Two restrooms and two offices in the office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,697
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,940
$413.9K
Cap Rate 7%
$295,671
$295.7K
Cap Rate 9%
$229,967
$230.0K
Market Conditions
NOI Build-Up for 3,440 SF
Gross rent
$31.0K $9.00/SF
− Vacancy
−$1.4K −$0.41/SF
EGI
$29.6K $8.59/SF
− OpEx
−$8.9K −$2.58/SF
NOI
$20.7K $6.02/SF
Area
Amarillo, TX
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$413,940
Cap Rate 7%
$295,671
Cap Rate 9%
$229,967
Alternative Uses
Best Use
Flex RnD
$352.6K
$308.6K – $411.4K
NOI $24,685 @ 7.0% cap · market cap 10.33%
Second Best
Industrial
$295.7K
$258.7K – $345.0K
NOI $20,697 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$768.0K
$672.0K – $896.1K
NOI $53,763 @ 7.0% cap · market cap 22.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Texas Backyard Bartenders — Amarillo, TX 79107
Frequently Asked Questions
What type of property is this?
Flex space - Two-story flex space with a spray foam insulated shop, office area, and covered parking with fenced access.
Where is this flex space located?
The property is located at 511 N Fillmore St Amarillo, TX.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 3,440 SF flex space with a two‑story office area; Warehouse shop is spray foam insulated; Two restrooms and two offices in the office area
