Mixed-Use Property with Event
For Sale
$999,000
19000 SPIRIT Loop, Amarillo, TX 79119
Commercial Sale, Amarillo, TX
Property Size2,853 SF
Lot Size3.54 Acres
Price / SF$350.16
Days on Market48
Property Features for 19000 SPIRIT Loop
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
2000 - SW of Amarillo City Limits
Directions
South on Bushland road from I-40, turn left onto Spirit Loop, first property on your left.
Subdivision
2054 - Bushland South
Standard status
Active
APN
LANDRY WALDRIP & CHLOE WALDRIP
Size
2,853 SF
Lot size
3.54 Acres
Taxes and HOA fees
Tax Description
MCCLUNGS BUSHLAND ESTATES # 1, TR 00A, 3.5400 ACRES
Legal Description
MCCLUNGS BUSHLAND ESTATES # 1, TR 00A, 3.5400 ACRES
Building Details
Year built
2015
Listing Agency:
Fathom Realty, LLC
(806) 433-2067
Listed By:
Taylor Jones
(806) 433-2067
Added: Jul 15
Changed: Aug 27
Last Checked: Aug 31 at 6:06AM
MLS# 26-5692
Copyright © 2026 Amarillo Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3.54-acre mixed-use property includes a 2,853-square-foot residence, an established wedding and event venue, and a separate short-term rental or bridal suite. Built in 2015, the main home has four bedrooms, three and one-half bathrooms, a three-car garage, a fenced backyard, an upstairs balcony overlooking the living room, and a double-sided fireplace.
The event facility has its own entrance, full kitchen, guest restrooms, groom suites, and an outdoor ceremony area. The separate suite adds a full kitchen, bedroom, bathroom, and two-car garage. Livestock is allowed, and the property is situated along a private, low-traffic street in Bushland, with the postal address in Amarillo.
The event facility has its own entrance, full kitchen, guest restrooms, groom suites, and an outdoor ceremony area. The separate suite adds a full kitchen, bedroom, bathroom, and two-car garage. Livestock is allowed, and the property is situated along a private, low-traffic street in Bushland, with the postal address in Amarillo.
Key Highlights
- 3.54‑acre mixed‑use property in Bushland
- 2,853‑square‑foot property built in 2015
- Established wedding and event venue with private entrance and outdoor ceremony area
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
$30,812
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
3.08%
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%
$616,240
$616.2K
Cap Rate 7%
$440,171
$440.2K
Cap Rate 9%
$342,356
$342.4K
Market Conditions
NOI Build-Up for 2,853 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
$54.8K $19.20/SF
− Vacancy
−$5.5K −$1.92/SF
EGI
$49.3K $17.28/SF
− OpEx
−$18.5K −$6.48/SF
NOI
$30.8K $10.80/SF
Area
Amarillo, TX
Vacancy
10.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$616,240
Cap Rate 7%
$440,171
Cap Rate 9%
$342,356
Alternative Uses
Best Use
Mixed Use
$440.2K
$385.2K – $513.5K
NOI $30,812 @ 7.0% cap · market cap 3.08%
Second Best
Apartment 5plus
$270.3K
$236.5K – $315.4K
NOI $18,922 @ 7.0% cap · market cap 1.89%
Theoretical Best
Office A
$637.0K
$557.4K – $743.2K
NOI $44,589 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 79119, TX
21,147
Population
9,839
Households
2.1
Avg Household Size
37
Median Age
44%
College-Educated
97%
High-School Grad
99.5 sq mi
ZIP Area
213
Density / Sq Mi
$100,546
Median Household Income
$63,728
Median Earnings
$1,217
Median Rent
$335,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes a residence, established wedding venue, and separate bridal suite with private access.
Where is this mixed-use property located?
The property is located at 19000 SPIRIT Loop Amarillo, TX.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3.54‑acre mixed‑use property in Bushland; 2,853‑square‑foot property built in 2015; Established wedding and event venue with private entrance and outdoor ceremony area
