107-Key Furnished
For Sale
Contact for pricing
Pending
1620 Interstate 40 E, Amarillo, TX 79103
Fully furnished lodging asset with potential for extended-stay or workforce-housing conversion.
Property Size33,968 SF
Days on Market165
Property Features for 1620 Interstate 40 E
General Information
Standard status
Pending
Size
33,968 SF
Class
C
Property subtype
Hospitality
Investment Type
Value Add
Building Details
Year Built
1985
Stories
2
Units
107
Listing Agency:
FIMC Commercial Realty
Listed By:
Kirk Chudej · License #TX 604402
(806) 358-7151
Source:
Crexi
Added: May 6
Changed: Oct 11
Last Checked: Oct 16 at 7:06AM
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 FIMC Commercial Realty
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Investment Insights
Based on property information with market context.
The property is a 107-key hotel at 1620 Interstate 40 E in Amarillo, Texas. Built in 1985, the asset is being offered with existing furnishings, allowing continued hotel use or consideration of alternative operating formats described for the property.
Potential repositioning concepts include extended-stay lodging, workforce housing, or continued operation as a traditional hotel. The address places the asset along Interstate 40 E, while the existing hotel configuration and furnishings provide a foundation for evaluating those alternatives.
Potential repositioning concepts include extended-stay lodging, workforce housing, or continued operation as a traditional hotel. The address places the asset along Interstate 40 E, while the existing hotel configuration and furnishings provide a foundation for evaluating those alternatives.
Key Highlights
- 107‑key hotel property
- Fully furnished asset
- Built in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$159,735
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,194,700
$3.2M
Cap Rate 7%
$2,281,929
$2.3M
Cap Rate 9%
$1,774,833
$1.8M
Market Conditions
NOI Build-Up for 33,968 SF
Gross rent
$448.4K $13.20/SF
− Vacancy
−$112.1K −$3.30/SF
EGI
$336.3K $9.90/SF
− OpEx
−$176.5K −$5.20/SF
NOI
$159.7K $4.70/SF
Area
Amarillo, TX
Vacancy
25.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,194,700
Cap Rate 7%
$2,281,929
Cap Rate 9%
$1,774,833
Alternative Uses
Best Use
Hotel Hospitality
$2.28M
$2.00M – $2.66M
NOI $159,735 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.58M
$6.64M – $8.85M
NOI $530,879 @ 7.0% cap · market cap 17.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
Explore this area
Business Placement
Demographics for 79103, TX
10,532
Population
3,784
Households
2.8
Avg Household Size
34
Median Age
13%
College-Educated
80%
High-School Grad
4.3 sq mi
ZIP Area
2,449
Density / Sq Mi
$55,885
Median Household Income
$35,862
Median Earnings
$1,197
Median Rent
$123,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Hotel - Fully furnished lodging asset with potential for extended-stay or workforce-housing conversion.
Where is this hotel located?
The property is located at 1620 Interstate 40 E Amarillo, TX.
What is the asking price?
The asking price for this property is $2,975,000.
What are key features of this property?
This property features: 107‑key hotel property; Fully furnished asset; Built in 1985
