Storefront Property with On-Site
1511 Quarter Horse Drive, Amarillo, TX 79104
For Sale
New
$650,000
Building upgrades are underway, with additional interior work remaining before the space is complete.
Property Size2,478 SF
Price / SF$262.31
Days on Market2
Property Features for 1511 Quarter Horse Drive
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Corner Location
Highway Access
Amenities
on-site commercial billboard
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Josiah Robles · License #0758165
(806) 223-6782
Source:
Panhandleplainsrealty
Added: Nov 6
Last Checked: Nov 7 at 1:10AM
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 Keller Williams Realty Amarillo
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Investment Insights
Based on property information with market context.
The 2,478-square-foot storefront dates to 1970 and has received substantial work, including a replacement subroof, concrete flooring, plumbing and electrical updates, insulation, and new windows. Much of the interior renovation is also complete, though further work remains to finish the space. An on-site commercial billboard is part of the property.
The building occupies a corner with access to I-40. Two additional lots lie north of the property, offering further site area alongside the storefront.
The building occupies a corner with access to I-40. Two additional lots lie north of the property, offering further site area alongside the storefront.
Key Highlights
- 2,478‑square‑foot storefront built in 1970
- Improvements include a new subroof, concrete flooring, updated plumbing and electrical, insulation, and windows
- Interior renovation is partly complete; additional work remains
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,937
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,740
$478.7K
Cap Rate 7%
$341,957
$342.0K
Cap Rate 9%
$265,967
$266.0K
Market Conditions
NOI Build-Up for 2,478 SF
Gross rent
$37.2K $15.00/SF
− Vacancy
−$3.0K −$1.20/SF
EGI
$34.2K $13.80/SF
− OpEx
−$10.3K −$4.14/SF
NOI
$23.9K $9.66/SF
Area
Amarillo, TX
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,740
Cap Rate 7%
$341,957
Cap Rate 9%
$265,967
Alternative Uses
Best Use
Retail
$342.0K
$299.2K – $399.0K
NOI $23,937 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$553.3K
$484.1K – $645.5K
NOI $38,728 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
604
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79104, TX
7,166
Population
2,893
Households
2.5
Avg Household Size
34
Median Age
6%
College-Educated
71%
High-School Grad
3.0 sq mi
ZIP Area
2,389
Density / Sq Mi
$47,768
Median Household Income
$24,991
Median Earnings
$905
Median Rent
$94,500
Median Home Value
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Market
Average Price Trend$/SF for Storefront properties in Amarillo, TX
Properties on Market for Storefront properties in Amarillo
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Sam's Club Floral — 2201 Ross Osage Dr, Amarillo, TX 79103
Frequently Asked Questions
What type of property is this?
Storefront property - Building upgrades are underway, with additional interior work remaining before the space is complete.
Where is this storefront property located?
The property is located at 1511 Quarter Horse Drive Amarillo, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,478‑square‑foot storefront built in 1970; Improvements include a new subroof, concrete flooring, updated plumbing and electrical, insulation, and windows; Interior renovation is partly complete; additional work remains
