Versatile Office and Warehouse
For Sale
$275,000
1502 S Lipscomb Street, Amarillo, TX 79102
Office and warehouse space near downtown with I-40 access.
Property Size3,916 SF
Price / SF$70.22
Days on Market161
Property Features for 1502 S Lipscomb Street
General Information
Standard status
Active
Size
3,916 SF
Property subtype
Commercial
Building Details
Year Built
1941
Listing Agency:
Gaut Whittenburg Emerson Commercial Real Estate, LLC
Listed By:
Meagan Brown · License #800118
(806) 433-5407
Source:
Shopamarillohomes
Added: May 16
Changed: Sep 8
Last Checked: Sep 8 at 7:05AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This free-standing property offers a combination of office and warehouse space with convenient access just off I-40. Centrally located near downtown and major supply vendors, the property is suited for roofing, plumbing, wholesale, retail sales, or multiple business operations with office space in front and warehouse/storage in back. The updated office area features a reception area, private offices, a conference room, a kitchen/break area, ample storage, and two restrooms. Recent improvements include an updated roof, HVAC systems, LED puck lighting, and gutters. The warehouse features pull-through access with two 8-foot overhead doors, three-phase electrical service, compressed air lines installed in the shop, and a fenced side yard. The property is strategically positioned near I-40 and downtown in between Georgia & Washington St. The property size is 3916 square feet.
Key Highlights
- Convenient access to I‑40 and central location.
- Versatile space suitable for office, warehouse, retail, or multiple business operations.
- Updated office area with reception, private offices, conference room, kitchen, and restrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,561
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,220
$471.2K
Cap Rate 7%
$336,586
$336.6K
Cap Rate 9%
$261,789
$261.8K
Market Conditions
NOI Build-Up for 3,916 SF
Gross rent
$35.2K $9.00/SF
− Vacancy
−$1.6K −$0.41/SF
EGI
$33.7K $8.59/SF
− OpEx
−$10.1K −$2.58/SF
NOI
$23.6K $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%
$471,220
Cap Rate 7%
$336,586
Cap Rate 9%
$261,789
Alternative Uses
Best Use
Flex RnD
$401.4K
$351.3K – $468.4K
NOI $28,101 @ 7.0% cap · market cap 10.22%
Second Best
Industrial
$336.6K
$294.5K – $392.7K
NOI $23,561 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$874.3K
$765.0K – $1.02M
NOI $61,202 @ 7.0% cap · market cap 22.26%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Under-served
Demand for This Use
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 Industrial in South region
Similar Off Market Nearby
- Best Amarillo Catering — 2400 sw 7th ave #251, amarillo, tx 79106
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse space near downtown with I-40 access.
Where is this flex space located?
The property is located at 1502 S Lipscomb Street Amarillo, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Convenient access to I‑40 and central location.; Versatile space suitable for office, warehouse, retail, or multiple business operations.; Updated office area with reception, private offices, conference room, kitchen, and restrooms.
