Office Showroom Corner
For Sale
Contact for pricing
1601 S Harrison St, Amarillo, TX 79102
Corner office building with showroom layout, multiple offices, reception, kitchen, and conference room, plus on-site parking lot.
Property Size5,766 SF
Price / SF$160.42
Days on Market98
Property Features for 1601 S Harrison St
General Information
Standard status
Active
Size
5,766 SF
Class
A
Property subtype
Office
Zoning
PD-130
Investment Type
Owner/User
Additional Details
Office Units
5
Building Details
Year Built
1959
Tenancy
Single
Listing Agency:
Gaut Whittenburg Emerson CRE
Listed By:
Jeff Gaut · License #TX 0695613
(806) 373-3111
Source:
Crexi
Added: Jun 3
Changed: Sep 7
Last Checked: Sep 7 at 8:13AM
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 downtown office building is configured for both private work areas and open presentation space. The interior includes five offices, a reception area, a kitchen, a conference room, and a large open middle area currently used as a showroom. Three bathrooms are available, including one with a shower, along with two large storage rooms. A 3,484 square-foot lot is included for additional parking across Harrison Street.
The property is located on the southeast corner of Harrison and 16th in downtown Amarillo. An included parking lot across Harrison can support overflow parking and improve day-to-day access.
For office users, the combination of dedicated offices, a reception and conference space, and an adaptable open showroom area can support a range of professional and customer-facing operations. The included additional parking lot may be especially useful for businesses that need reliable space for employees and visitors.
The property is located on the southeast corner of Harrison and 16th in downtown Amarillo. An included parking lot across Harrison can support overflow parking and improve day-to-day access.
For office users, the combination of dedicated offices, a reception and conference space, and an adaptable open showroom area can support a range of professional and customer-facing operations. The included additional parking lot may be especially useful for businesses that need reliable space for employees and visitors.
Key Highlights
- Corner office building at the SE corner of Harrison St and 16th St in downtown Amarillo (Amarillo, TX), built in 1959
- Office layout includes 5 offices plus reception, kitchen, and a conference room
- Large open middle area currently used as a showroom, with potential to add multiple cubicles for desks
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
$66,165
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
7.15%
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%
$1,323,300
$1.3M
Cap Rate 7%
$945,214
$945.2K
Cap Rate 9%
$735,167
$735.2K
Market Conditions
NOI Build-Up for 5,766 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
$103.8K $18.00/SF
− Vacancy
−$15.6K −$2.70/SF
EGI
$88.2K $15.30/SF
− OpEx
−$22.1K −$3.82/SF
NOI
$66.2K $11.48/SF
Area
Amarillo, TX
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,323,300
Cap Rate 7%
$945,214
Cap Rate 9%
$735,167
Alternative Uses
Best Use
Office B
$945.2K
$827.1K – $1.10M
NOI $66,165 @ 7.0% cap · market cap 7.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,116 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner office building with showroom layout, multiple offices, reception, kitchen, and conference room, plus on-site parking lot.
Where is this office building located?
The property is located at 1601 S Harrison St Amarillo, TX.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Corner office building at the SE corner of Harrison St and 16th St in downtown Amarillo (Amarillo, TX), built in 1959; Office layout includes 5 offices plus reception, kitchen, and a conference room; Large open middle area currently used as a showroom, with potential to add multiple cubicles for desks
