Convenience Store with Car
For Sale
Contact for pricing
5815 S Western St, Amarillo, TX
Existing convenience store with gas pumps and attached car wash.
Property Size3,491 SF
Lot Size1.02 Acres
Price / SF$285.02
Days on Market496
Property Features for 5815 S Western St
General Information
Standard status
Active
Size
3,491 SF
Lot size
1.02 Acres
Property subtype
RETAIL
Listing Agency:
Gaut Whittenburg Emerson CRE
(806) 373-3111
Listed By:
Miles Bonifield · License #0594133
(806) 584-7365
Source:
Moodyscre
Added: May 7, 2025
Changed: Sep 12
Last Checked: Sep 14 at 6:19AM
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 property features an existing convenience store available for purchase. It is located on a hard corner with approximately 204 feet of frontage on Western Street and 216 feet on Hillside Road. The building is configured as a convenience store with existing refrigeration units and a cash register area. The layout includes a back workroom with a 3-bay sink, a manager’s office, and two bathrooms. The property also features four gas pumps under a covered canopy and a large parking lot. An operating attached car wash provides an additional 1,275 square feet of space. The property size is 3,491 square feet.
Key Highlights
- Hard corner location with high visibility frontage on two streets.
- Existing convenience store setup with refrigeration units and cash register area.
- Includes four gas pumps under a covered canopy and a large parking lot.
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
$41,347
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
4.16%
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%
$826,940
$826.9K
Cap Rate 7%
$590,671
$590.7K
Cap Rate 9%
$459,411
$459.4K
Market Conditions
NOI Build-Up for 3,491 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
$58.6K $16.80/SF
− Vacancy
−$3.5K −$1.01/SF
EGI
$55.1K $15.79/SF
− OpEx
−$13.8K −$3.95/SF
NOI
$41.3K $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%
$826,940
Cap Rate 7%
$590,671
Cap Rate 9%
$459,411
Alternative Uses
Best Use
Specialty Retail
$590.7K
$516.8K – $689.1K
NOI $41,347 @ 7.0% cap · market cap 4.16%
Second Best
Retail
$481.8K
$421.5K – $562.1K
NOI $33,723 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$779.4K
$682.0K – $909.3K
NOI $54,560 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
586
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Gas station - Existing convenience store with gas pumps and attached car wash.
Where is this gas station located?
The property is located at 5815 S Western St Amarillo, TX.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Hard corner location with high visibility frontage on two streets.; Existing convenience store setup with refrigeration units and cash register area.; Includes four gas pumps under a covered canopy and a large parking lot.
