Renovated Office Building For
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5625 Fulton Dr, Amarillo, TX 79109
11,500 SF office building renovated in 2015, great signage.
Property Size11,500 SF
Price / SF$165.22
Days on Market167
Property Features for 5625 Fulton Dr
General Information
Standard status
Active
Size
11,500 SF
Class
A
Property subtype
Office
Zoning
O
Building Details
Year Built
1978
Listing Agency:
Gaut Whittenburg Emerson CRE
(806) 373-3111
Listed By:
Aaron Emerson, CCIM, SIOR · License #TX477647
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:44AM
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.
Located at 5625 Fulton Dr, this property features an 11,500 square foot building originally constructed in 1978 and extensively renovated in 2015. The property is suited for an office user seeking a visible location with signage opportunities.
Key Highlights
- Visible location with great signage
- Extensively renovated in 2015
- 11,500 SF building suited for an office user
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
$131,963
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
6.95%
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%
$2,639,260
$2.6M
Cap Rate 7%
$1,885,186
$1.9M
Cap Rate 9%
$1,466,256
$1.5M
Market Conditions
NOI Build-Up for 11,500 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
$207.0K $18.00/SF
− Vacancy
−$31.1K −$2.70/SF
EGI
$176.0K $15.30/SF
− OpEx
−$44.0K −$3.82/SF
NOI
$132.0K $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%
$2,639,260
Cap Rate 7%
$1,885,186
Cap Rate 9%
$1,466,256
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $131,963 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $179,731 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
381
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 11,500 SF office building renovated in 2015, great signage.
Where is this office building located?
The property is located at 5625 Fulton Dr Amarillo, TX.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Visible location with great signage; Extensively renovated in 2015; 11,500 SF building suited for an office user
