Flex Space with Shop and Pole
For Sale
Contact for pricing
4901 Whitaker N, Amarillo, TX 79108
Unfinished office areas, a bathroom, workshop space, and covered outdoor storage support flexible business use.
Property Size2,000 SF
Price / SF$250
Days on Market12
Property Features for 4901 Whitaker N
General Information
Standard status
Active
Size
2,000 SF
Property subtype
Industrial
Zoning
OCL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Listing Agency:
Gaut Whittenburg Emerson CRE
(806) 373-3111
Listed By:
Bo Wulfman · License #TX 0375664
Source:
Crexi
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 9:11AM
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 Gaut Whittenburg Emerson CRE
Investment Insights
Based on property information with market context.
This flex-space property combines unfinished office areas with a bathroom and a shop area suited to projects, equipment, or storage. The upper level offers additional interior space that can function as office area or an apartment. A pole barn behind the building adds covered space for outdoor storage.
The site is partially fenced, while the west boundary remains open. OCL zoning is identified for the property, and the overall configuration supports business, workshop, or mixed-use purposes.
The site is partially fenced, while the west boundary remains open. OCL zoning is identified for the property, and the overall configuration supports business, workshop, or mixed-use purposes.
Key Highlights
- Unfinished office space with bathroom
- Upper level can serve as additional office area or apartment
- Shop area for projects, equipment, or storage
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
$22,950
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
4.59%
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%
$459,000
$459.0K
Cap Rate 7%
$327,857
$327.9K
Cap Rate 9%
$255,000
$255.0K
Market Conditions
NOI Build-Up for 2,000 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
$36.0K $18.00/SF
− Vacancy
−$5.4K −$2.70/SF
EGI
$30.6K $15.30/SF
− OpEx
−$7.7K −$3.82/SF
NOI
$23.0K $11.48/SF
Area
Amarillo, TX
Vacancy
15.00%
Lease Rate
$18.00 /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%
$459,000
Cap Rate 7%
$327,857
Cap Rate 9%
$255,000
Alternative Uses
Best Use
Office B
$327.9K
$286.9K – $382.5K
NOI $22,950 @ 7.0% cap · market cap 4.59%
Second Best
Warehouse
$223.8K
$195.8K – $261.1K
NOI $15,667 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$446.5K
$390.7K – $521.0K
NOI $31,258 @ 7.0% cap · market cap 6.25%
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
11
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79108, TX
12,117
Population
5,079
Households
2.4
Avg Household Size
41
Median Age
14%
College-Educated
85%
High-School Grad
183.5 sq mi
ZIP Area
66
Density / Sq Mi
$63,383
Median Household Income
$35,746
Median Earnings
$1,035
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Unfinished office areas, a bathroom, workshop space, and covered outdoor storage support flexible business use.
Where is this flex space located?
The property is located at 4901 Whitaker N Amarillo, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Unfinished office space with bathroom; Upper level can serve as additional office area or apartment; Shop area for projects, equipment, or storage
