Flex Warehouse with Yard
For Sale
$725,000
6636 Canyon Drive, Amarillo, TX 79109
Leased flex warehouse with updated office, multiple shops, and gated yard with concrete and loading dock.
Property Size2,800 SF
Price / SF$258.93
Days on Market49
Property Features for 6636 Canyon Drive
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Building Details
Year Built
1993
Listing Agency:
Keller Williams Realty Amarillo
Listed By:
Bobby Tyler
Source:
Shopamarillohomes
Added: Jul 13
Changed: Jul 14
Last Checked: Aug 8 at 3:35AM
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 Keller Williams Realty Amarillo
Investment Insights
Based on property information with market context.
This leased flex warehouse property includes an updated office with central heat and air, with one lavatory located near the office. The facility also features a newer rear 6-bay shop surrounded by 15-foot concrete, along with a loading dock, newer electric gate, security system, and steel fencing. Additional improvements include a 150-by-60 rear shop, a 100-by-40 front quonset building, and a 60-by-40 middle shop.
The property offers easy access to I-27 and provides 130 feet of frontage on Canyon Drive, with two entries off Canyon Drive. It also includes advertising capability with one double-sided digital 10-by-20 billboard and one lighted 10-by-20 billboard.
The property offers easy access to I-27 and provides 130 feet of frontage on Canyon Drive, with two entries off Canyon Drive. It also includes advertising capability with one double-sided digital 10-by-20 billboard and one lighted 10-by-20 billboard.
Key Highlights
- Leased flex warehouse built in 1993 with easy access to I‑27
- 130 feet of frontage on Canyon Drive with 2 entries
- Advertising capability includes a double‑sided digital 10x20 billboard and a lighted 10x20 billboard
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
$21,934
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
3.03%
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%
$438,680
$438.7K
Cap Rate 7%
$313,343
$313.3K
Cap Rate 9%
$243,711
$243.7K
Market Conditions
NOI Build-Up for 2,800 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
$26.9K $9.60/SF
− Vacancy
−$1.1K −$0.38/SF
EGI
$25.8K $9.22/SF
− OpEx
−$3.9K −$1.38/SF
NOI
$21.9K $7.83/SF
Area
Amarillo, TX
Vacancy
4.00%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
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%
$438,680
Cap Rate 7%
$313,343
Cap Rate 9%
$243,711
Alternative Uses
Best Use
Warehouse
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 3.03%
Second Best
Flex RnD
$287.0K
$251.2K – $334.9K
NOI $20,093 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$625.2K
$547.0K – $729.4K
NOI $43,761 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
567
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Leased flex warehouse with updated office, multiple shops, and gated yard with concrete and loading dock.
Where is this flex space located?
The property is located at 6636 Canyon Drive Amarillo, TX.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Leased flex warehouse built in 1993 with easy access to I‑27; 130 feet of frontage on Canyon Drive with 2 entries; Advertising capability includes a double‑sided digital 10x20 billboard and a lighted 10x20 billboard
