Drug Store Space with Drive-Up
For Sale
$210,000
1900 S Coulter Street, Amarillo, TX 79106
Medical-office setting with reception, work areas, a drive-up window, and dedicated parking.
Property Size1,932 SF
Price / SF$108.70
Days on Market54
Property Features for 1900 S Coulter Street
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Year Built
1984
Listing Agency:
Larry Brown, REALTORS
(806) 358-7421
Listed By:
Brad Douglass · License #DOUB
Source:
Choosemeraki
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 31 at 1:07PM
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 Larry Brown, REALTORS
Investment Insights
Based on property information with market context.
This 1932 SF commercial suite occupies a medical office complex and was previously configured for pharmacy operations. The interior includes a reception area, office space, a compounding room, and a consultation room, along with a drive-up window and dedicated parking.
The property is located on S Coulter Street just north of I-40 in Amarillo, near hospitals, medical offices, and other healthcare-related businesses. Built in 1984, the space is offered for sale, with leasing also available from the owner.
The property is located on S Coulter Street just north of I-40 in Amarillo, near hospitals, medical offices, and other healthcare-related businesses. Built in 1984, the space is offered for sale, with leasing also available from the owner.
Key Highlights
- 1932 SF suite in a medical office complex
- Drive‑up window and dedicated parking
- Previously configured for pharmacy operations
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
$18,663
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
8.89%
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%
$373,260
$373.3K
Cap Rate 7%
$266,614
$266.6K
Cap Rate 9%
$207,367
$207.4K
Market Conditions
NOI Build-Up for 1,932 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
$29.0K $15.00/SF
− Vacancy
−$2.3K −$1.20/SF
EGI
$26.7K $13.80/SF
− OpEx
−$8.0K −$4.14/SF
NOI
$18.7K $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%
$373,260
Cap Rate 7%
$266,614
Cap Rate 9%
$207,367
Alternative Uses
Best Use
Specialty Retail
$326.9K
$286.0K – $381.4K
NOI $22,883 @ 7.0% cap · market cap 10.90%
Second Best
Office B
$316.7K
$277.1K – $369.5K
NOI $22,170 @ 7.0% cap · market cap 10.56%
Theoretical Best
Office A
$431.4K
$377.4K – $503.3K
NOI $30,195 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,982
Businesses Nearby
Well-served
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Glamour and Glo Studio — 6705 Adirondack Trail, Amarillo, TX 79106
- CVS Pharmacy — 8201 I-40 W, Amarillo, TX 79121
- Edward Schuetzle — 8201 I-40 W STORE 0221, Amarillo, TX 791211104
- Valmed Home Health & Pharmacy Solutions — 3 Care Cir, Amarillo, TX 79124
- Andrea J. Morris, PharmD — 3 Care Circle Suite 300, Amarillo, TX 79124, Amarillo, TX 79106
Frequently Asked Questions
What type of property is this?
Drug store - Medical-office setting with reception, work areas, a drive-up window, and dedicated parking.
Where is this drug store located?
The property is located at 1900 S Coulter Street Amarillo, TX.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 1932 SF suite in a medical office complex; Drive‑up window and dedicated parking; Previously configured for pharmacy operations
