Office Building with Excess
6500 W Amarillo Blvd, Amarillo, TX 79106
Versatile office building with classrooms, auditorium, and excess land.
Type:Office
Property size:
26,410 SFLot size:
7.65 AcresPrice / SF:
$170/SF- Added:
- Jul 28, 2022
- Days on Market:
- 1406
- Last Refresh:
- May 20 at 8:22 pm
Property Features for 6500 W Amarillo Blvd
General Information
- Standard status
- Active
- Size
- 26,410 SF
- Lot size
- 7.65 Acres
- Property subtype
- Office
Listing agent Ben Whittenburg License #TX SA664767000
Listing office Gaut Whittenburg Emerson CRE
Listing date Jul 28, 2022
Source Crexi
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
HighLights
- Prime location in the Harrington Regional Medical Center, near major hospitals and Texas Tech University Health Sciences Center and School of Veterinary Medicine.
- Significant excess land (13.34 acres) offers considerable development potential or separate sale opportunity.
- Versatile building suitable for various uses beyond its current operation as an Agrilife Research & Extension Center, including office, classrooms, auditorium, and shop space.
- Option to purchase the adjacent property at 6610 W. Amarillo Blvd, expanding the overall potential.
- Excellent access and visibility at the intersection of W. Amarillo Blvd. and Killgore Dr.
- Located in Amarillo, the economic hub of the Texas Panhandle, with thriving industries including oil and gas, beef processing, and agriculture.
Overview
The property, currently operating as the Texas A&M Agrilife Research & Extension Center at Amarillo, offers adaptability for various uses. The building is in good condition and features office spaces, classrooms, a large kitchen/break room, a shop area with a grade-level door, and a 300-person auditorium. Situated on 7.65 acres, the main facility includes 13.34 acres of excess land. The land and buildings can be sold separately and can be purchased with the property to the southwest. Located at the intersection of W. Amarillo Blvd. and Killgore Dr. in the Harrington Regional Medical Center, the property benefits from its proximity to BSA Hospital, Northwest Texas Hospital, Texas Tech University Health Sciences Center at Amarillo, and the Texas Tech University School of Veterinary Medicine. Access and visibility are ideal. Amarillo, Texas, situated in the heart of the Texas Panhandle, serves as the hub of economic activity for the Texas Panhandle and surrounding counties. Key industries in the area include oil and gas, beef processing, dairy, agriculture, aviation and aerospace, and bioscience. The property size is 26410 square feet.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $475.4k | $18.00 |
| − Vacancy | −$71.3k | −$2.70 |
| EGI | $404.1k | $15.30 |
| − OpEx | −$101.0k | −$3.82 |
| NOI | $303.1k | $11.48 |
26,410 SF · lease $18.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.33M
$3.79M – $5.05M
NOI $303,055 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.90M
$5.16M – $6.88M
NOI $412,757 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Agri Life Research ...
Research Institute
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Randall
- State
- Texas
- Longitude
- -101.908833
- Latitude
- 35.2010474
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Versatile office building with classrooms, auditorium, and excess land.
Where is this office building located?
The property is located at 6500 W Amarillo Blvd Amarillo, TX.
What is the asking price?
The asking price for this property is $4,495,000.
What are key features of this property?
This property features: Prime location in the Harrington Regional Medical Center, near major hospitals and Texas Tech University Health Sciences Center and School of Veterinary Medicine.; Significant excess land (13.34 acres) offers considerable development potential or separate sale opportunity.; Versatile building suitable for various uses beyond its current operation as an Agrilife Research & Extension Center, including office, classrooms, auditorium, and shop space.
