Flex Space with Highway
For Sale
Contact for pricing
6633 Canyon Dr, Amarillo, TX 79110
Versatile commercial property suited to office, storage, and light industrial uses.
Property Size18,058 SF
Price / SF$71.99
Days on Market15
Property Features for 6633 Canyon Dr
General Information
Standard status
Active
Size
18,058 SF
Property subtype
Industrial
Zoning
Heavy Commercial
Occupancy
23%
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
4
Units
5
Tenancy
Single
Listing Agency:
Gaut Whittenburg Emerson CRE
(806) 373-3111
Listed By:
Bo Wulfman · License #TX 0375664
Source:
Crexi
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 11:32PM
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 flex space supports a range of commercial functions, including office operations, storage, and light industrial activity. The property measures 18,058 and is positioned on the east side of I-27 in Amarillo, Texas.
Access is provided from the northbound I-27 frontage road, with the site situated between Bell and Hillside. Its placement along the frontage road provides direct exposure to an established traffic route and convenient connectivity to the surrounding area. The property is located at 6633 Canyon Dr.
Access is provided from the northbound I-27 frontage road, with the site situated between Bell and Hillside. Its placement along the frontage road provides direct exposure to an established traffic route and convenient connectivity to the surrounding area. The property is located at 6633 Canyon Dr.
Key Highlights
- Flex space suitable for office, storage, or light industrial purposes
- 18,058 property size
- East side of I‑27 between Bell and Hillside
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
$108,646
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
8.36%
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%
$2,172,920
$2.2M
Cap Rate 7%
$1,552,086
$1.6M
Cap Rate 9%
$1,207,178
$1.2M
Market Conditions
NOI Build-Up for 18,058 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
$162.5K $9.00/SF
− Vacancy
−$7.3K −$0.41/SF
EGI
$155.2K $8.59/SF
− OpEx
−$46.6K −$2.58/SF
NOI
$108.6K $6.02/SF
Area
Amarillo, TX
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,172,920
Cap Rate 7%
$1,552,086
Cap Rate 9%
$1,207,178
Alternative Uses
Best Use
Flex RnD
$1.85M
$1.62M – $2.16M
NOI $129,584 @ 7.0% cap · market cap 9.97%
Second Best
Industrial
$1.55M
$1.36M – $1.81M
NOI $108,646 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$4.03M
$3.53M – $4.70M
NOI $282,225 @ 7.0% cap · market cap 21.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79110, TX
18,285
Population
7,760
Households
2.4
Avg Household Size
35
Median Age
15%
College-Educated
91%
High-School Grad
5.4 sq mi
ZIP Area
3,386
Density / Sq Mi
$65,896
Median Household Income
$39,833
Median Earnings
$1,173
Median Rent
$153,400
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial property suited to office, storage, and light industrial uses.
Where is this flex space located?
The property is located at 6633 Canyon Dr Amarillo, TX.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Flex space suitable for office, storage, or light industrial purposes; 18,058 property size; East side of I‑27 between Bell and Hillside
