Shadow-Anchored Grocery Retail
For Sale
Contact for pricing
3562 South Soncy Road, Amarillo, TX 79119
Retail strip center with a grocery shadow anchor, offering a neighborhood-style tenant environment.
Property Size22,329 SF
Price / SF$357.98
Days on Market60
Property Features for 3562 South Soncy Road
General Information
Standard status
Active
Size
22,329 SF
Property subtype
Retail
Zoning
General Retail (GR)
Occupancy
91%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$519,562
Additional Details
Cap Rate
6.5%
Building Details
Year Built
2014
Buildings
1
Units
10
Tenancy
Multi
Listing Agency:
Venture Commercial
(214) 378-1212
Listed By:
John Zikos · License #TX 375018
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 8 at 3:08PM
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 Venture Commercial
Investment Insights
Based on property information with market context.
Soncy Market Strip Center is a for-sale retail property configured as a strip center, positioned within the grocery and convenience retail category. The asset is described as grocery shadow-anchored, meaning the tenant mix is supported by the draw of nearby grocery traffic rather than a dedicated inline anchor within the center itself.
Located at 3562 South Soncy Road in Amarillo, Texas (79119), the center benefits from direct access to a main commercial corridor serving surrounding retail needs. Its grocery-adjacent positioning is intended to capture routine, everyday shopping patterns associated with convenience and neighborhood retail.
For investors and operators seeking a grocery-influenced retail format, this strip center offers a straightforward platform aligned with day-to-day consumer traffic. Prospective tenants should consider the property’s fit for retail uses that rely on frequent customer visits and a shopping environment where grocery proximity can support consistent footfall. Buyers evaluating the asset should review the current tenant configuration and lease terms to confirm operational alignment and the specific in-center merchandising plan.
Located at 3562 South Soncy Road in Amarillo, Texas (79119), the center benefits from direct access to a main commercial corridor serving surrounding retail needs. Its grocery-adjacent positioning is intended to capture routine, everyday shopping patterns associated with convenience and neighborhood retail.
For investors and operators seeking a grocery-influenced retail format, this strip center offers a straightforward platform aligned with day-to-day consumer traffic. Prospective tenants should consider the property’s fit for retail uses that rely on frequent customer visits and a shopping environment where grocery proximity can support consistent footfall. Buyers evaluating the asset should review the current tenant configuration and lease terms to confirm operational alignment and the specific in-center merchandising plan.
Key Highlights
- Retail strip center built in 2014
- 6.50% cap rate mentioned in the listing
- Grocery shadow‑anchored market strip center
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
$264,465
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
3.31%
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%
$5,289,300
$5.3M
Cap Rate 7%
$3,778,071
$3.8M
Cap Rate 9%
$2,938,500
$2.9M
Market Conditions
NOI Build-Up for 22,329 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
$375.1K $16.80/SF
− Vacancy
−$22.5K −$1.01/SF
EGI
$352.6K $15.79/SF
− OpEx
−$88.2K −$3.95/SF
NOI
$264.5K $11.84/SF
Area
Amarillo, TX
Vacancy
6.00%
Lease Rate
$16.80 /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%
$5,289,300
Cap Rate 7%
$3,778,071
Cap Rate 9%
$2,938,500
Alternative Uses
Best Use
Specialty Retail
$3.78M
$3.31M – $4.41M
NOI $264,465 @ 7.0% cap · market cap 3.31%
Second Best
Retail
$3.08M
$2.70M – $3.59M
NOI $215,698 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$4.99M
$4.36M – $5.82M
NOI $348,975 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
638
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail strip center with a grocery shadow anchor, offering a neighborhood-style tenant environment.
Where is this strip mall located?
The property is located at 3562 South Soncy Road Amarillo, TX.
What is the asking price?
The asking price for this property is $7,993,262.
What are key features of this property?
This property features: Retail strip center built in 2014; 6.50% cap rate mentioned in the listing; Grocery shadow‑anchored market strip center
