5-Bay Flex Property with
For Sale
$225,000
707 S Arthur Street, Amarillo, TX 79102
Shop improvements, a separate one-bedroom home, and garage support a flexible live-work configuration.
Property Size2,460 SF
Price / SF$91.46
Days on Market29
Property Features for 707 S Arthur Street
General Information
Standard status
Active
Size
2,460 SF
Property subtype
Commercial
Additional Details
Fenced Yard
Yes
Drive-In Doors
5
Building Details
Year Built
1967
Listing Agency:
Keller Williams Realty Amarillo
(806) 477-2538
Listed By:
April Bell · License #0653918
Source:
Shopamarillohomes
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 29 at 2:09PM
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 flex property combines a 2,460-square-foot shop with a separate one-bedroom, one-bath home and an additional single-car garage. The workspace contains five bays, including one identified for paint-booth use, along with a large compressor, shop heater, updated electrical outlets, newer garage-door openers, and an interior half bath. Each shop door measures 8 feet tall by 10 feet wide.
Security improvements include perimeter fencing and hot-wire protection. The residence has a newer roof, while the overall property dates to 1967. Located at 707 S Arthur Street in Amarillo, the property supports business, storage, or live-work use within one combined site.
Security improvements include perimeter fencing and hot-wire protection. The residence has a newer roof, while the overall property dates to 1967. Located at 707 S Arthur Street in Amarillo, the property supports business, storage, or live-work use within one combined site.
Key Highlights
- 2,460‑square‑foot flex property with five shop bays
- One bay identified for paint‑booth use
- Shop doors measure 8 feet tall by 10 feet wide
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
$17,653
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
7.85%
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%
$353,060
$353.1K
Cap Rate 7%
$252,186
$252.2K
Cap Rate 9%
$196,144
$196.1K
Market Conditions
NOI Build-Up for 2,460 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
$29.5K $12.00/SF
− Vacancy
−$2.4K −$0.96/SF
EGI
$27.2K $11.04/SF
− OpEx
−$9.5K −$3.86/SF
NOI
$17.7K $7.18/SF
Area
Amarillo, TX
Vacancy
8.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
35.00%
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%
$353,060
Cap Rate 7%
$252,186
Cap Rate 9%
$196,144
Alternative Uses
Best Use
Office B
$403.3K
$352.9K – $470.5K
NOI $28,229 @ 7.0% cap · market cap 12.55%
Second Best
Mixed Use
$379.5K
$332.1K – $442.8K
NOI $26,568 @ 7.0% cap · market cap 11.81%
Theoretical Best
Office A
$549.2K
$480.6K – $640.8K
NOI $38,447 @ 7.0% cap · market cap 17.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
777
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 79102, TX
9,252
Population
4,695
Households
2
Avg Household Size
35
Median Age
20%
College-Educated
78%
High-School Grad
2.7 sq mi
ZIP Area
3,427
Density / Sq Mi
$48,551
Median Household Income
$34,911
Median Earnings
$891
Median Rent
$146,500
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?
Flex space - Shop improvements, a separate one-bedroom home, and garage support a flexible live-work configuration.
Where is this flex space located?
The property is located at 707 S Arthur Street Amarillo, TX.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,460‑square‑foot flex property with five shop bays; One bay identified for paint‑booth use; Shop doors measure 8 feet tall by 10 feet wide
