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Versatile Office and Warehouse Space

1502 S Lipscomb St Amarillo, TX 79102

1502 S Lipscomb St, Amarillo, TX, 79102
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Office and warehouse space near downtown with I-40 access.

Property Size3,916 SF
Price / SF$70.22
AddedMay 14
Days on Market64
Last RefreshJul 16 at 5:54 am

Property Features for 1502 S Lipscomb St

General Information

Standard status
Active
Size
3,916 SF
Property subtype
Office

Building Details

Year Built
1941

Listing office Gaut Whittenburg Emerson CRE

Listing date May 14, 2026

Source Crexi

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


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.

Local Financial Insights For Industrial

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $35.2k $9.00
− Vacancy −$1.6k −$0.41
EGI $33.7k $8.59
− OpEx −$10.1k −$2.58
NOI $23.6k $6.02
3,916 SF · lease $9.00/SF/yr · vacancy 4.50% · expense 30.00%

Alternative Uses

Best Use
Warehouse
$438.2K
$383.5K – $511.3K (±1% cap)
NOI $30,676 @ 7.0% cap · market cap 11.15%
Second Best
Flex RnD
$401.4K
$351.3K – $468.4K (±1% cap)
NOI $28,101 @ 7.0% cap · market cap 10.22%
Theoretical Best
Office A
$874.3K
$765.0K – $1.02M (±1% cap)
NOI $61,202 @ 7.0% cap · market cap 22.26%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

C & E Mechanical General Contractor Verity Mechanical HVAC Service Lowrance Construction Group Construction Company

Suggested Use

Grocery & Convenience Store Catering Service (Bike/Boat/Book/etc) Store Carpet & Flooring Store (Bike/Boat/Book/etc) Store Tanning Salon Fish Market (Bike/Boat/Book/etc) Store Clothing & Fashion Store Pet Grooming Service

Zoning and permitted uses should be independently verified with local authorities.

Similar Off Market Nearby

  • Black Fig Catering — 2525 Wimberly Rd, Amarillo, TX 79109

FAQs

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 St 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.
Contact an agent
(806) 433-5407 Call to check price and availability
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