Versatile Commercial Property Near
For Sale
$319,900
1515 S Garfield Street, Amarillo, TX 79102
Commercial property near I-40 and downtown Amarillo, perfect for business.
Property Size2,640 SF
Lot Size0.40 Acres
Price / SF$121.17
Days on Market196
Property Features for 1515 S Garfield Street
General Information
Standard status
Active
Size
2,640 SF
Lot size
0.40 Acres
Property subtype
Commercial
Listing Agency:
Keller Williams Realty Amarillo
Listed By:
The Connie Taylor Group · License #0516410
(806) 359-4000
Source:
Shopamarillohomes
Added: Mar 26
Changed: Sep 8
Last Checked: Sep 8 at 3:27AM
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
Investment Insights
Based on property information with market context.
This versatile commercial property is situated on 0.4 acres of real estate near I-40 and downtown Amarillo, Texas, in the Barrio, located in an Opportunity Zone. The property includes heated and cooled space with an entrance area, two offices, a shared workspace, a break area, a meeting room, two bathrooms, and an open call area. The shop area is insulated and features two 12-foot roll doors and two man doors. The flexible layout is adaptable to various business needs. Its proximity to downtown ensures convenient access to the city center, making it an attractive investment opportunity for those seeking functionality and a strategic location. The property is a blank canvas for business endeavors, with possibilities for a larger yard, an additional structure, or a separate build altogether.
Key Highlights
- Strategic location near I‑40 and downtown Amarillo.
- Located in an Opportunity Zone (Barrio) with NEZ2 documents available.
- Versatile commercial property on .4 acres offering a blank canvas for business endeavors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,945
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,900
$378.9K
Cap Rate 7%
$270,643
$270.6K
Cap Rate 9%
$210,500
$210.5K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$31.7K $12.00/SF
− Vacancy
−$2.5K −$0.96/SF
EGI
$29.1K $11.04/SF
− OpEx
−$10.2K −$3.86/SF
NOI
$18.9K $7.18/SF
Area
Amarillo, TX
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$378,900
Cap Rate 7%
$270,643
Cap Rate 9%
$210,500
Alternative Uses
Best Use
Flex RnD
$270.6K
$236.8K – $315.8K
NOI $18,945 @ 7.0% cap · market cap 5.92%
Second Best
Industrial
$226.9K
$198.6K – $264.7K
NOI $15,884 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$589.4K
$515.8K – $687.7K
NOI $41,260 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
649
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
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Similar Off Market Nearby
- Texas Backyard Bartenders — Amarillo, TX 79107
- Vee's Mobile Kitchen — 2510 Redwood St, Amarillo, TX 79107
Frequently Asked Questions
What type of property is this?
Flex space - Commercial property near I-40 and downtown Amarillo, perfect for business.
Where is this flex space located?
The property is located at 1515 S Garfield Street Amarillo, TX.
What is the asking price?
The asking price for this property is $319,900.
What are key features of this property?
This property features: Strategic location near I‑40 and downtown Amarillo.; Located in an Opportunity Zone (Barrio) with NEZ2 documents available.; Versatile commercial property on .4 acres offering a blank canvas for business endeavors.
