Mixed-Use Property with
For Sale
$769,000
3803 E AMARILLO Boulevard, Amarillo, TX 79107
Commercial Sale, Amarillo, TX
Property Size5,580 SF
Price / SF$137.81
Days on Market12
Property Features for 3803 E AMARILLO Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0300 - NE Amarillo in City Limits
Parking features
Parking Lot
Directions
From I40, go North on Grand to Amarillo Blvd. East on Amarillo Blvd. to listing.
Subdivision
0321 - North Amarillo
Standard status
Active
Size
5,580 SF
Taxes and HOA fees
Tax Description
EAST AMARILLO # 1, BLK 0063, 23 LESS S IRREG ROW & 24 LESS S 15F
Legal Description
EAST AMARILLO # 1, BLK 0063, 23 LESS S IRREG ROW & 24 LESS S 15F
Utilities
Cooling system
Central Air
Building Details
Year built
1961
Flooring type
Tile
Building materials
Brick Veneer
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
Tami Gaut · License #577978
(806) 382-4332
Added: Sep 23
Changed: Sep 28
Last Checked: Oct 4 at 9:06PM
MLS# 26-7624
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.
The 5,580-square-foot property at 3803 E Amarillo Boulevard includes a cafe, a bar business operated under lease, and two private rental spaces with tenants. The cafe has operated continuously, 24 hours a day, since 1952. Building records show a 1961 construction date, with brick veneer, tile flooring, central air, and a parking lot.
The property is in Amarillo near historic Route 66. Its sign was recently refurbished through a City of Amarillo historic improvement initiative.
The property is in Amarillo near historic Route 66. Its sign was recently refurbished through a City of Amarillo historic improvement initiative.
Key Highlights
- 5,580‑square‑foot mixed‑use property
- Cafe has served customers 24 hours a day since 1952
- Includes a leased bar operation and two private rental spaces with tenants
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
$66,090
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
8.59%
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%
$1,321,800
$1.3M
Cap Rate 7%
$944,143
$944.1K
Cap Rate 9%
$734,333
$734.3K
Market Conditions
NOI Build-Up for 5,580 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
$93.7K $16.80/SF
− Vacancy
−$5.6K −$1.01/SF
EGI
$88.1K $15.79/SF
− OpEx
−$22.0K −$3.95/SF
NOI
$66.1K $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%
$1,321,800
Cap Rate 7%
$944,143
Cap Rate 9%
$734,333
Alternative Uses
Best Use
Specialty Retail
$944.1K
$826.1K – $1.10M
NOI $66,090 @ 7.0% cap · market cap 8.59%
Second Best
Mixed Use
$860.9K
$753.3K – $1.00M
NOI $60,264 @ 7.0% cap · market cap 7.84%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,209 @ 7.0% cap · market cap 11.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
Business Placement
Demographics for 79107, TX
37,480
Population
12,346
Households
3
Avg Household Size
34
Median Age
6%
College-Educated
61%
High-School Grad
19.6 sq mi
ZIP Area
1,912
Density / Sq Mi
$39,474
Median Household Income
$28,084
Median Earnings
$1,016
Median Rent
$88,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The offering combines an around-the-clock cafe, a leased bar operation, and two occupied rental spaces.
Where is this mixed-use property located?
The property is located at 3803 E AMARILLO Boulevard Amarillo, TX.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: 5,580‑square‑foot mixed‑use property; Cafe has served customers 24 hours a day since 1952; Includes a leased bar operation and two private rental spaces with tenants
