Multifamily Value-Add Opportunity in
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4101 REPUBLIC AVE, Amarillo, TX 79109
Class C multifamily property with income stream and upside potential.
Property Size22,080 SF
Price / SF$122.28
Days on Market112
Property Features for 4101 REPUBLIC AVE
General Information
Standard status
Active
Size
22,080 SF
Class
C
Property subtype
Multifamily
Zoning
MF
Occupancy
91%
Net Operating Income
$239,015
Building Details
Year Built
1977
Buildings
1
Stories
2
Units
48
Listing Agency:
KW Commercial
Listed By:
Bobby Tyler · License #TX 690582
(806) 676-7709
Source:
Crexi
Added: May 19
Changed: Aug 8
Last Checked: Jul 31 at 2:53PM
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 KW Commercial
Investment Insights
Based on property information with market context.
4101 Republic Avenue presents a Class C multifamily value-add opportunity, offering a stable in-place income stream alongside clear upside potential. The property features a functional unit mix and an efficient layout that supports consistent occupancy. Located in Amarillo, Texas, which USA Today reports as the fastest-growing midsize city in the country, the area is experiencing dynamic growth, combining steady population expansion with strong job creation and economic diversification. With a population exceeding 200,000, the city attracts new residents, businesses, and investment. Key industries such as aerospace, manufacturing, energy, healthcare, and logistics are driving job growth, with expansions including new aviation facilities at Rick Husband Amarillo International Airport, downtown office development from Pantex, and new industrial investments. Downtown Amarillo is undergoing a significant revitalization, with new residential units, hotels, and mixed-use developments transforming the urban core into a vibrant live-work-play environment. Amarillo’s central location, business-friendly environment, lower cost of living, and access to major transportation corridors continue to attract employers and developers. The property size is 22080 square feet.
Key Highlights
- Value‑add opportunity with stable in‑place income.
- Functional unit mix and efficient layout supporting consistent occupancy.
- Located in Amarillo, the fastest‑growing midsize city in the U.S.
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
$146,439
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
5.42%
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%
$2,928,780
$2.9M
Cap Rate 7%
$2,091,986
$2.1M
Cap Rate 9%
$1,627,100
$1.6M
Market Conditions
NOI Build-Up for 22,080 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
$280.9K $12.72/SF
− Vacancy
−$14.6K −$0.66/SF
EGI
$266.3K $12.06/SF
− OpEx
−$119.8K −$5.43/SF
NOI
$146.4K $6.63/SF
Area
Amarillo, TX
Vacancy
5.20%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
45.00%
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%
$2,928,780
Cap Rate 7%
$2,091,986
Cap Rate 9%
$1,627,100
Alternative Uses
Best Use
Apartment 5plus
$2.09M
$1.83M – $2.44M
NOI $146,439 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.93M
$4.31M – $5.75M
NOI $345,084 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Class C multifamily property with income stream and upside potential.
Where is this apartment building located?
The property is located at 4101 REPUBLIC AVE Amarillo, TX.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Value‑add opportunity with stable in‑place income.; Functional unit mix and efficient layout supporting consistent occupancy.; Located in Amarillo, the fastest‑growing midsize city in the U.S.
