Advance Auto Parts Amarillo,
For Sale
$2,465,485
1805 S Grand St, Amarillo, TX 79103
Advance Auto Parts in Amarillo, TX for sale.
Property Size15,544 SF
Days on Market104
Property Features for 1805 S Grand St
General Information
Standard status
Active
Size
15,544 SF
Property subtype
Free Standing Building
Building Details
Building Size
15,544 SF
Year Built
1988
Listing Agency:
Trinity Real Estate Investment Services
(817) 291-7842
Listed By:
Chance Hales · License #597585
(817) 291-7842
Source:
Thebrokerlist
Added: May 18
Changed: Aug 8
Last Checked: Aug 29 at 5:52AM
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 Trinity Real Estate Investment Services
Investment Insights
Based on property information with market context.
The property is an Advance Auto Parts store located in Amarillo, TX. The tenant has been operating at this location since 1988. The property benefits from a rare absolute NNN lease, assigning zero landlord responsibilities. It features high visibility on S Grand St, with a traffic count of over 16,000 vehicles per day. Easy access is available from I-40, which sees over 54,000 vehicles per day. The property includes convenient ingress/egress and parking. It is positioned as an outparcel to a Walmart Supercenter and is directly across from a shopping plaza anchored by Ross. The surrounding 5-mile trade area is densely populated with over 107,000 residents. The property is priced below replacement cost at $158 per square foot. The current term has 2+ years remaining.
Key Highlights
- Rare absolute NNN lease – zero landlord responsibilities
- Long‑operating tenant established in 1988 demonstrating decades of proven stability
- Priced below replacement cost at $158 per square foot
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
$150,155
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
6.09%
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%
$3,003,100
$3.0M
Cap Rate 7%
$2,145,071
$2.1M
Cap Rate 9%
$1,668,389
$1.7M
Market Conditions
NOI Build-Up for 15,544 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
$233.2K $15.00/SF
− Vacancy
−$18.7K −$1.20/SF
EGI
$214.5K $13.80/SF
− OpEx
−$64.4K −$4.14/SF
NOI
$150.2K $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%
$3,003,100
Cap Rate 7%
$2,145,071
Cap Rate 9%
$1,668,389
Alternative Uses
Best Use
Retail
$2.15M
$1.88M – $2.50M
NOI $150,155 @ 7.0% cap · market cap 6.09%
Second Best
Industrial
$1.34M
$1.17M – $1.56M
NOI $93,520 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $242,934 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Well-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Auto Dent Pros — 2800 SE 27th Ave, Amarillo, TX 79423
- Green Light Oil Change — 2800 SE 27th Ave, Amarillo, TX 79103
- Used Transmissions and Engines — Amarillo, TX 79103, United States
- Take 5 Oil Change — 1820 S Grand St, Amarillo, TX 79103
- Walmart Auto Care Centers — 3700 E Interstate 40 Hwy, Amarillo, TX 79103
Frequently Asked Questions
What type of property is this?
Auto shop - Advance Auto Parts in Amarillo, TX for sale.
Where is this auto shop located?
The property is located at 1805 S Grand St Amarillo, TX.
What is the asking price?
The asking price for this property is $2,465,485.
What are key features of this property?
This property features: Rare absolute NNN lease – zero landlord responsibilities; Long‑operating tenant established in 1988 demonstrating decades of proven stability; Priced below replacement cost at $158 per square foot
