Flex Space with Office
For Sale
$175,000
3601 S MONROE Street, Amarillo, TX 79110
Commercial Sale, Amarillo, TX
Property Size1,366 SF
Price / SF$128.11
Days on Market69
Property Features for 3601 S MONROE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0400 - SE Amarillo in City Limits
Directions
Drive North on Washington. Turn East onto I-27 access road. Property will be on the South side of the street.
Subdivision
0412 - Gables
Standard status
Active
APN
Stanley Fithen
Size
1,366 SF
Taxes and HOA fees
Tax Description
ROY LINDSEYS ADDN, BLK 00B4, N 50FT EACH OF 1B THRU 5B ROY LINDSEYS BUS SUB
Legal Description
ROY LINDSEYS ADDN, BLK 00B4, N 50FT EACH OF 1B THRU 5B ROY LINDSEYS BUS SUB
Building Details
Year built
1951
Flooring type
Tile
Listing Agency:
Our Texas Real Estate
(512) 375-2380
Listed By:
Mikki Burns
(806) 648-4444
Added: Jun 17
Changed: Aug 20
Last Checked: Aug 24 at 6:06PM
MLS# 26-4887
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 1,366-square-foot flex-space property, built in 1951, combines office areas with ample storage and two bathrooms. Tile flooring is installed throughout the interior, supporting a straightforward commercial layout for a range of operational needs.
The property is located at 3601 S Monroe Street in Amarillo, just off Washington Street and I-27. Its position provides direct access to those transportation corridors and places the building within the 79110 postal area.
The property is located at 3601 S Monroe Street in Amarillo, just off Washington Street and I-27. Its position provides direct access to those transportation corridors and places the building within the 79110 postal area.
Key Highlights
- 1,366‑square‑foot flex‑space property
- Office areas paired with ample storage
- Two bathrooms included
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
$9,802
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
5.60%
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%
$196,040
$196.0K
Cap Rate 7%
$140,029
$140.0K
Cap Rate 9%
$108,911
$108.9K
Market Conditions
NOI Build-Up for 1,366 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
$16.4K $12.00/SF
− Vacancy
−$1.3K −$0.96/SF
EGI
$15.1K $11.04/SF
− OpEx
−$5.3K −$3.86/SF
NOI
$9.8K $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%
$196,040
Cap Rate 7%
$140,029
Cap Rate 9%
$108,911
Alternative Uses
Best Use
Flex RnD
$140.0K
$122.5K – $163.4K
NOI $9,802 @ 7.0% cap · market cap 5.60%
Second Best
Industrial
$117.4K
$102.7K – $137.0K
NOI $8,219 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$305.0K
$266.9K – $355.8K
NOI $21,349 @ 7.0% cap · market cap 12.20%
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
192
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79110, TX
18,285
Population
7,760
Households
2.4
Avg Household Size
35
Median Age
15%
College-Educated
91%
High-School Grad
5.4 sq mi
ZIP Area
3,386
Density / Sq Mi
$65,896
Median Household Income
$39,833
Median Earnings
$1,173
Median Rent
$153,400
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 - Functional commercial layout with storage, office areas, and two bathrooms.
Where is this flex space located?
The property is located at 3601 S MONROE Street Amarillo, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 1,366‑square‑foot flex‑space property; Office areas paired with ample storage; Two bathrooms included
