Corner Storefront With
New
For Sale
$650,000
1511 QUARTER HORSE Drive, Amarillo, TX 79104
COMMERCIAL - Amarillo, TX
Property Size2,478 SF
Price / SF$262.31
Days on Market2
Property Features for 1511 QUARTER HORSE Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0300 - NE Amarillo in City Limits
Directions
I40 & QUARTER HORSE, GO NORTH ON QUARTER HORSE DR AND ITS ON THE RIGHT PLUS THE ADDITIONAL 2 LOTS TO THE NORTH.
Subdivision
0310 - Stockyards
Standard status
Active
APN
213646
Size
2,478 SF
Taxes and HOA fees
Tax Description
I-40 & NELSON SUB, LOT 002, BLK 0001
Legal Description
I-40 & NELSON SUB, LOT 002, BLK 0001
Amenities
on-site commercial billboard
Building Details
Year built
1970
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Josiah Robles
(806) 359-4000
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 4:06PM
MLS# 26-6432
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.
Investment Insights
Based on property information with market context.
This 2,478-square-foot storefront property, built in 1970, is positioned on a visible corner and has undergone substantial physical improvements. Completed work includes a new subroof, concrete flooring, plumbing, electrical, insulation, windows, and much of the interior remodeling. Remaining work allows the next owner to complete the space according to its intended business use.
The property includes an on-site commercial billboard and convenient access to I-40. Two additional lots on the north side provide room for added parking, expansion, or outdoor use. The location records thousands of vehicles passing daily, supporting exposure for a business operating from the building.
The property includes an on-site commercial billboard and convenient access to I-40. Two additional lots on the north side provide room for added parking, expansion, or outdoor use. The location records thousands of vehicles passing daily, supporting exposure for a business operating from the building.
Key Highlights
- 2,478‑square‑foot storefront property on a visible corner
- Improvements include a new subroof, concrete flooring, plumbing, electrical, insulation, and windows
- Much of the interior remodeling is complete; remaining work is required
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,937
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
590
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Partially remodeled commercial building with interstate access and two additional lots for parking, expansion, or outdoor use.
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 property on a visible corner; Improvements include a new subroof, concrete flooring, plumbing, electrical, insulation, and windows; Much of the interior remodeling is complete; remaining work is required
