Downtown Amarillo Commercial
For Sale
Contact for pricing
Pending
600 S Buchanan St, Amarillo, TX 79101
Class A commercial condos in downtown Amarillo's reinvestment center.
Property Size1,733 SF
Days on Market930
Property Features for 600 S Buchanan St
General Information
Standard status
Pending
Size
1,733 SF
Class
A
Total Parking Spaces
90
Property subtype
Office
Zoning
Retail
Occupancy
1%
Lease Type
NNN
Investment Type
Owner/User
Building Details
Year Built
2016
Buildings
3
Stories
1
Units
1
Tenancy
Multi
Listing Agency:
Llano Brokerage, LLC
(806) 392-9912
Listed By:
Josh Langham · License #TX 664099
Source:
Crexi
Added: Feb 7, 2024
Changed: Aug 8
Last Checked: Jul 25 at 9:29AM
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 Llano Brokerage, LLC
Investment Insights
Based on property information with market context.
These Class A commercial condos are available for sale or lease and are situated in downtown Amarillo's reinvestment center. The location is directly across the street from the Hodgetown Ballpark and adjacent to the new Potter County Courthouse. Embassy Suites by Hilton and Xcel Energy Headquarters are located next door. The Amarillo Civic Center and the Globe-News Center are within a block of the property. The commercial condominiums offer an opportunity to own real estate in a growing area of the city. Shared maintenance and management responsibilities are distributed among owners. The property size is 1733 square feet.
Key Highlights
- Prime downtown location directly across from Hodgetown Ballpark and adjacent to the new Potter County Courthouse.
- Class A commercial condos suitable for purchase or lease.
- Situated in Amarillo's reinvestment center, surrounded by major businesses like Embassy Suites by Hilton and Xcel Energy Headquarters.
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
$19,886
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
4.06%
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%
$397,720
$397.7K
Cap Rate 7%
$284,086
$284.1K
Cap Rate 9%
$220,956
$221.0K
Market Conditions
NOI Build-Up for 1,733 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
$31.2K $18.00/SF
− Vacancy
−$4.7K −$2.70/SF
EGI
$26.5K $15.30/SF
− OpEx
−$6.6K −$3.82/SF
NOI
$19.9K $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%
$397,720
Cap Rate 7%
$284,086
Cap Rate 9%
$220,956
Alternative Uses
Best Use
Office B
$284.1K
$248.6K – $331.4K
NOI $19,886 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$386.9K
$338.6K – $451.4K
NOI $27,085 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,043
Businesses Nearby
Explore this area
Business Placement
Demographics for 79101, TX
2,307
Population
1,309
Households
1.8
Avg Household Size
51
Median Age
15%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
1,442
Density / Sq Mi
$40,313
Median Household Income
$36,409
Median Earnings
$898
Median Rent
$152,300
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 units - Class A commercial condos in downtown Amarillo's reinvestment center.
Where is this office units located?
The property is located at 600 S Buchanan St Amarillo, TX.
What is the asking price?
The asking price for this property is $489,500.
What are key features of this property?
This property features: Prime downtown location directly across from Hodgetown Ballpark and adjacent to the new Potter County Courthouse.; Class A commercial condos suitable for purchase or lease.; Situated in Amarillo's reinvestment center, surrounded by major businesses like Embassy Suites by Hilton and Xcel Energy Headquarters.
