Flex Space with Live-Work
For Sale
$225,000
707 S Arthur Street, Amarillo, TX 79102
Commercial Sale, Amarillo, TX
Property Size2,460 SF
Price / SF$91.46
Days on Market83
Property Features for 707 S Arthur Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
0300 - NE Amarillo in City Limits
Parking features
Parking Lot, Garage
Directions
Left of Arthur from 10th. Property will be on the right
Subdivision
0300 - Santa Fe Station
Standard status
Active
APN
212805
Size
2,460 SF
Taxes and HOA fees
Tax Description
MIRROR'S ADDN, LOT 007, BLK 0381
Legal Description
MIRROR'S ADDN, LOT 007, BLK 0381
Building Details
Year built
1967
Building materials
Block
Listing Agency:
Keller Williams Realty Amarillo
(806) 359-4000
Listed By:
April Bell · License #0653918
(806) 359-4000
Added: Jun 2
Changed: Aug 19
Last Checked: Aug 23 at 11:06AM
MLS# 26-1442
Copyright © 2026 Amarillo Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,460-square-foot flex property combines a five-bay shop with a one-bedroom, one-bath residence and a separate single-car garage. The block-built shop includes a bay suited to paint booth use, 8-foot by 10-foot doors, newer garage door openers, updated electrical outlets, a large compressor, a shop heater, and a newer half bath within the workspace. A newer roof serves the residence, while the property also includes a parking lot and garage parking.
Security improvements include fencing with hot-wire protection. Located at 707 S Arthur Street in Amarillo, the property was built in 1967 and provides a combination of commercial workspace, storage capacity, and residential accommodations within one property.
Security improvements include fencing with hot-wire protection. Located at 707 S Arthur Street in Amarillo, the property was built in 1967 and provides a combination of commercial workspace, storage capacity, and residential accommodations within one property.
Key Highlights
- 2460 SF flex property with a 5‑bay shop
- One‑bedroom, one‑bath home with newer roof
- Shop doors measure 8 ft tall by 10 ft 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
$19,271
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
8.56%
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%
$385,420
$385.4K
Cap Rate 7%
$275,300
$275.3K
Cap Rate 9%
$214,122
$214.1K
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
$23.6K $9.60/SF
− Vacancy
−$945 −$0.38/SF
EGI
$22.7K $9.22/SF
− OpEx
−$3.4K −$1.38/SF
NOI
$19.3K $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%
$385,420
Cap Rate 7%
$275,300
Cap Rate 9%
$214,122
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
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,198
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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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Flex space - Shop, residence, and detached garage support business operations and on-site living.
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: 2460 SF flex property with a 5‑bay shop; One‑bedroom, one‑bath home with newer roof; Shop doors measure 8 ft tall by 10 ft wide
