Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Pampa, TX Professional Office Title is generated by Realmo AI

    1505 N Banks Street, Pampa, TX 79065

    View on Map
    Claim this Listing
    For Sale
    $245,900

    COMMERCIAL - Pampa, TX

    Lot size:
    0.27 Acres
    Added:
    Oct 9, 2025
    Days on Market:
    219
    Last Refresh:
    May 15 at 7:06 pm

    Property Features for 1505 N Banks Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    Lewis Meers
    Lot size
    0.27 Acres

    Taxes and HOA fees

    Tax Description
    Lot 1 & S 20' of 2 BLK 1 Terra Alta 1501 & 1502 N Banks

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1940
    Flooring type
    Tile, Carpet
    Roof type
    Built-Up

    We can help!

    Listing Contact
    Linda Laycock
    Linda Laycock

    Listing agent Linda Laycock

    Listing office Panhandle Plains Realty 420 W Florida AVE, Pampa, TX

    Listing date Oct 9, 2025

    MLS# 25-4480

    Copyright © 2026 Amarillo Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Centrally located in Pampa, offering excellent accessibility for clients and staff
    • Multiple private offices suitable for individual or team use
    • Spacious filing rooms perfect for document storage and organization
    • Well‑maintained property ready for immediate occupancy
    • Durable stucco exterior providing curb appeal and low maintenance
    • Features a welcoming reception area

    Overview

    This professional office building is centrally located in Pampa, Texas, and offers a setup suitable for various business needs. The well-maintained property includes a reception area, multiple private offices, and filing rooms. The building features a stucco exterior. The office is situated in a central location, providing accessibility for clients and staff. The lot size is 0.27 acres. The property is located at 1505 N Banks Street, Pampa, TX 79065, in Gray County.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Pampa
    County
    Gray
    State
    Texas
    Longitude
    -100.973455
    Latitude
    35.55162

    Nearby Similar for Sale

    • $150,000
      6,043 SF

      Highway Frontage Commercial Building

      Spacious building with highway frontage and storage area.
      208 E Brown Street, Pampa, TX 79065
      View Details
    • $225,000
      2,880 SF

      Pampa, TX Mechanic Shop

      Fully equipped mechanic shop with prime highway frontage.
      720 W Brown Street, Pampa, TX 79065
      View Details
    • $255,000
      1,780 SF

      Pampa Commercial Space For Sale

      Commercial space with offices, reception area, and expansion potential.
      111 E 28TH Avenue, Pampa, TX 79065-3016
      View Details
    • $250,000
      9,750 SF

      Pampa Commercial Property with Warehouse

      Versatile commercial space with retail frontage and warehouse.
      315 S Cuyler St, Pampa, TX 79065
      View Details
    • $250,000
      9,750 SF

      Pampa Commercial Opportunity

      Expansive commercial property with retail frontage and warehouse space.
      315 S CUYLER Street, Pampa, TX 79065-7313
      View Details
    • $255,000
      1,780 SF

      Functional Commercial Space in Pampa

      1,780 sq ft commercial space with offices and amenities.
      111 E 28th Ave, Pampa, TX 79065
      View Details
    • $175,000
      12,660 SF

      Commercial Property in Pampa, Texas

      Commercial property with mobile home and Morgan building for sale.
      329 & 325 N HOBART Street, Pampa, TX 79065-6142
      View Details
    • $299,000
      4,000 SF

      Pampa, TX Commercial Opportunity

      Commercial property on 7.25 acres with shop and hookups.
      1445 S Barnes St, Pampa, TX 79065
      View Details
    • $150,000
      5,207 SF

      Highway Frontage Business Opportunity

      Spacious building with display cases, vault, and shop area.
      208 E Brown St, Pampa, TX 79065
      View Details
    • $250,000
      3,500 SF

      Income-Producing Commercial Building in Pampa

      Versatile commercial building with two leased suites, ideal for investors.
      118 E Browning Ave, Pampa, TX 79065
      View Details
    • $425,000
      4,347 SF

      Versatile Property with Shop and Residence

      5 acres with shop, office, residence, and RV parking.
      12055 E Frederic Ave, Pampa, TX 79065
      View Details
    • $150,000
      2,800 SF

      Highway 60 Commercial Opportunity

      Versatile commercial property on Highway 60 in Pampa, Texas.
      600 E FREDERIC Avenue, Pampa, TX 79065-7525
      View Details

    FAQs

    What type of property is this?
    Office building - Centrally located office building suitable for various business needs.
    Where is this office building located?
    The property is located at 1505 N Banks Street Pampa, TX.
    What is the asking price?
    The asking price for this property is $245,900.
    What are key features of this property?
    This property features: Centrally located in Pampa, offering excellent accessibility for clients and staff; Multiple private offices suitable for individual or team use; Spacious filing rooms perfect for document storage and organization
    (806) 662-1312
    We can help!
    Listing Contact
    Linda Laycock
    Linda Laycock
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1505 N Banks Street, Pampa, TX 79065
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!