Updated Two-Suite Medical
For Sale
$795,000
1801 Halstead Street, Amarillo, TX 79106
Configured with exam rooms, procedure areas, and administrative workspaces for established medical operations.
Property Size4,173 SF
Days on Market993
Property Features for 1801 Halstead Street
General Information
Standard status
Active
Size
4,173 SF
Property subtype
OFC, OFC-MED
Building Details
Building Size
4,173 SF
Year Built
1983
Buildings
2
Stories
1
Listing Agency:
(806) 236-1370
Listed By:
Connie Taylor · License #0516410
(806) 236-1370
Source:
Realnex
Added: Dec 11, 2023
Changed: Aug 30
Last Checked: Aug 30 at 12:51PM
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 Connie Taylor
Investment Insights
Based on property information with market context.
This updated medical office property contains two distinct suites with healthcare-oriented layouts. Suite A includes a waiting area, reception desk, private office, lab, nurse station, break room, procedure room, six exam rooms with sinks, and three restrooms. Suite B provides its own waiting area, reception space, office, nurse station, procedure room, four exam rooms, two restrooms, and a mechanical room. Both suites feature wood-look vinyl flooring, granite countertops, white cabinetry, and neutral paint finishes.
Suite B is currently leased, while Suite A offers a detailed medical-office configuration with dedicated patient, clinical, and administrative areas. The building was constructed in 1983 and is located across from BSA and approximately half a mile from Northwest Hospital in Amarillo, Texas.
Suite B is currently leased, while Suite A offers a detailed medical-office configuration with dedicated patient, clinical, and administrative areas. The building was constructed in 1983 and is located across from BSA and approximately half a mile from Northwest Hospital in Amarillo, Texas.
Key Highlights
- Two‑suite medical office building with updated interior finishes
- Suite A includes 6 exam rooms with sinks and 3 restrooms
- Suite B contains 4 exam rooms, 2 restrooms, and a mechanical room
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
$47,885
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
6.02%
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%
$957,700
$957.7K
Cap Rate 7%
$684,071
$684.1K
Cap Rate 9%
$532,056
$532.1K
Market Conditions
NOI Build-Up for 4,173 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
$75.1K $18.00/SF
− Vacancy
−$11.3K −$2.70/SF
EGI
$63.8K $15.30/SF
− OpEx
−$16.0K −$3.82/SF
NOI
$47.9K $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%
$957,700
Cap Rate 7%
$684,071
Cap Rate 9%
$532,056
Alternative Uses
Best Use
Office B
$684.1K
$598.6K – $798.1K
NOI $47,885 @ 7.0% cap · market cap 6.02%
Second Best
Healthcare Medical
$664.0K
$581.0K – $774.7K
NOI $46,481 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$931.7K
$815.2K – $1.09M
NOI $65,219 @ 7.0% cap · market cap 8.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,914
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79106, TX
27,692
Population
13,385
Households
2.1
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,220
Density / Sq Mi
$54,407
Median Household Income
$36,061
Median Earnings
$995
Median Rent
$163,100
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?
Medical Office Space - Configured with exam rooms, procedure areas, and administrative workspaces for established medical operations.
Where is this medical office space located?
The property is located at 1801 Halstead Street Amarillo, TX.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Two‑suite medical office building with updated interior finishes; Suite A includes 6 exam rooms with sinks and 3 restrooms; Suite B contains 4 exam rooms, 2 restrooms, and a mechanical room
