Flex Space with Shop
For Sale
Contact for pricing
2409 Commerce St, Amarillo, TX 79109
Industrial property combines open shop space, offices, storage improvements, and secured outdoor areas in Southwest Amarillo.
Property Size3,475 SF
Price / SF$79.14
Days on Market8
Property Features for 2409 Commerce St
General Information
Standard status
Active
Size
3,475 SF
Property subtype
Industrial
Zoning
LC
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Amenities
hydraulic lift
outdoor storage garage
secured fenced-in area
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Coldwell Banker Commercial First Equity
(806) 468-4831
Listed By:
Tom Roller CCIM · License #TX
Source:
Crexi
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 8:34PM
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 Coldwell Banker Commercial First Equity
Investment Insights
Based on property information with market context.
This flex space property, built in 1983, combines an open shop and storage configuration with an office area. The improvements include two 10-foot overhead doors, one 12-foot overhead door, a hydraulic lift, and an outdoor storage garage. A secured fenced-in area provides additional exterior functionality, while the open arrangement supports a range of shop, warehouse, service, and contractor operations.
The property is located at 2409 Commerce St in Southwest Amarillo, with access to surrounding commercial areas. LC zoning is identified for the site.
The property is located at 2409 Commerce St in Southwest Amarillo, with access to surrounding commercial areas. LC zoning is identified for the site.
Key Highlights
- Two 10‑foot overhead doors and one 12‑foot overhead door
- Hydraulic lift included
- Office area within the open shop and storage layout
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
$24,937
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
9.07%
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%
$498,740
$498.7K
Cap Rate 7%
$356,243
$356.2K
Cap Rate 9%
$277,078
$277.1K
Market Conditions
NOI Build-Up for 3,475 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
$41.7K $12.00/SF
− Vacancy
−$3.3K −$0.96/SF
EGI
$38.4K $11.04/SF
− OpEx
−$13.4K −$3.86/SF
NOI
$24.9K $7.18/SF
Area
Amarillo, TX
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$498,740
Cap Rate 7%
$356,243
Cap Rate 9%
$277,078
Alternative Uses
Best Use
Warehouse
$388.9K
$340.3K – $453.7K
NOI $27,222 @ 7.0% cap · market cap 9.90%
Second Best
Flex RnD
$356.2K
$311.7K – $415.6K
NOI $24,937 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$775.9K
$678.9K – $905.2K
NOI $54,310 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,264
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79109, TX
42,509
Population
20,308
Households
2.1
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
10.3 sq mi
ZIP Area
4,127
Density / Sq Mi
$68,579
Median Household Income
$41,410
Median Earnings
$945
Median Rent
$217,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial property combines open shop space, offices, storage improvements, and secured outdoor areas in Southwest Amarillo.
Where is this flex space located?
The property is located at 2409 Commerce St Amarillo, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two 10‑foot overhead doors and one 12‑foot overhead door; Hydraulic lift included; Office area within the open shop and storage layout
