Flex Space With Dock
For Sale
$990,000
512 NE 2nd Avenue, Amarillo, TX 79107
COMMERCIAL - Amarillo, TX
Property Size2,520 SF
Price / SF$392.86
Days on Market165
Property Features for 512 NE 2nd Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0300 - NE Amarillo in City Limits
Directions
Head North on Buchanan turn right on NE 2nd property is on the right.
Subdivision
0300 - Santa Fe Station
Standard status
Active
APN
216787
Size
2,520 SF
Taxes and HOA fees
Tax Description
HOLLAND'S ADDN, BLK 0213, ALL OF 1 & N/2 OF 2 BLK 212 PLUS N 90FT OF THIS BLK PLUS VACATED ALLEY & STREET
Legal Description
HOLLAND'S ADDN, BLK 0213, ALL OF 1 & N/2 OF 2 BLK 212 PLUS N 90FT OF THIS BLK PLUS VACATED ALLEY & STREET
Utilities
Cooling system
Central Air
Amenities
multiple updated offices
multiple restrooms
2 kitchens
large conference area
Building Details
Year built
1949
Listing Agency:
FIMC Commercial Realty
(806) 358-7151
Listed By:
Kirk Chudej · License #604402
(806) 358-7151
Added: Mar 12
Changed: Aug 4
Last Checked: Aug 23 at 11:06AM
MLS# 26-2163
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 2,520-square-foot flex space at 512 NE 2nd Avenue includes five dock-high doors, a fully enclosed yard, and multiple updated office areas. The interior also provides multiple restrooms, two kitchens, and a sizable conference room, with central air serving the property. Built in 1949, the building accommodates a combination of warehouse and office functions, with additional space that can be configured for commercial operations, living quarters, or offices.
The property is located in Amarillo, Texas, within an Opportunity Zone and the boundaries of a Business Improvement Grant and City TIRZ. Its address is in Potter County and carries ZIP Code 79107.
The property is located in Amarillo, Texas, within an Opportunity Zone and the boundaries of a Business Improvement Grant and City TIRZ. Its address is in Potter County and carries ZIP Code 79107.
Key Highlights
- 2,520‑square‑foot flex space at 512 NE 2nd Avenue, Amarillo, TX 79107
- Five dock‑high doors
- Fully fenced yard
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
$28,917
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
2.92%
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%
$578,340
$578.3K
Cap Rate 7%
$413,100
$413.1K
Cap Rate 9%
$321,300
$321.3K
Market Conditions
NOI Build-Up for 2,520 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
$45.4K $18.00/SF
− Vacancy
−$6.8K −$2.70/SF
EGI
$38.6K $15.30/SF
− OpEx
−$9.6K −$3.82/SF
NOI
$28.9K $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%
$578,340
Cap Rate 7%
$413,100
Cap Rate 9%
$321,300
Alternative Uses
Best Use
Office B
$413.1K
$361.5K – $482.0K
NOI $28,917 @ 7.0% cap · market cap 2.92%
Second Best
Warehouse
$282.0K
$246.8K – $329.0K
NOI $19,741 @ 7.0% cap · market cap 1.99%
Theoretical Best
Office A
$562.6K
$492.3K – $656.4K
NOI $39,385 @ 7.0% cap · market cap 3.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Dock-high doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
Under-served
Demand for This Use
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
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 - Central air, updated offices, kitchens, restrooms, and a fenced yard support varied commercial operations.
Where is this flex space located?
The property is located at 512 NE 2nd Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 2,520‑square‑foot flex space at 512 NE 2nd Avenue, Amarillo, TX 79107; Five dock‑high doors; Fully fenced yard
