Updated Commercial Property Near
For Sale
$187,000
1408 Sw 15th Avenue, Amarillo, TX 79102
Commercial property near downtown with modern upgrades and high visibility.
Property Size1,495 SF
Price / SF$125.08
Days on Market195
Property Features for 1408 Sw 15th Avenue
General Information
Standard status
Active
Size
1,495 SF
Property subtype
Commercial
Building Details
Year Built
1952
Listing Agency:
Gaut Whittenburg Emerson Commercial Real Estate, LLC
Listed By:
Meagan Brown · License #800118
(806) 433-5407
Source:
Shopamarillohomes
Added: Mar 27
Changed: Aug 23
Last Checked: Aug 21 at 10:03PM
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 Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This commercial property is located near downtown and offers convenient access to I-40. The property has been updated with a TPO roof, electrical panel, HVAC system, windows, flooring, paint, lighting, a back patio concrete pad, siding, and gutters. It is suitable for various business uses, including retail, boutique, office, interior design, insurance, real estate, executive suites, and creative studios. The property benefits from high traffic counts, ensuring visibility.
Key Highlights
- Strategically located near downtown with easy access to I‑40 and high traffic counts.
- Suitable for a variety of businesses: retail, boutique, office, creative studios, and more.
- Fully renovated with modern upgrades:** TPO Roof, Electrical Panel, HVAC, Windows, Flooring, Paint and Lighting.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,155
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$343,100
$343.1K
Cap Rate 7%
$245,071
$245.1K
Cap Rate 9%
$190,611
$190.6K
Market Conditions
NOI Build-Up for 1,495 SF
Gross rent
$26.9K $18.00/SF
− Vacancy
−$4.0K −$2.70/SF
EGI
$22.9K $15.30/SF
− OpEx
−$5.7K −$3.82/SF
NOI
$17.2K $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 Rate 5%
$343,100
Cap Rate 7%
$245,071
Cap Rate 9%
$190,611
Alternative Uses
Best Use
Office B
$245.1K
$214.4K – $285.9K
NOI $17,155 @ 7.0% cap · market cap 9.17%
Second Best
Retail
$206.3K
$180.5K – $240.7K
NOI $14,442 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$333.8K
$292.1K – $389.4K
NOI $23,365 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Explore this area
Business Placement
Demographics for 79102, TX
9,252
Population
4,695
Households
2
Avg Household Size
35
Median Age
20%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
3,427
Density / Sq Mi
$48,551
Median Household Income
$34,911
Median Earnings
$891
Median Rent
$146,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property near downtown with modern upgrades and high visibility.
Where is this retail space located?
The property is located at 1408 Sw 15th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $187,000.
What are key features of this property?
This property features: Strategically located near downtown with easy access to I‑40 and high traffic counts.; Suitable for a variety of businesses: retail, boutique, office, creative studios, and more.; Fully renovated with modern upgrades:** TPO Roof, Electrical Panel, HVAC, Windows, Flooring, Paint and Lighting.
