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    5521 Gem Lake Rd Amarillo, TX 79106

    Sponsored
    For Sale
    $4,000,000

    13.23 Acres, Development Ready

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 13.23-acre commercial land parcel presents a remarkable development opportunity in Amarillo, Texas. Located at 5521 Gem Lake Rd, just east of Amarillo Boulevard, this property boasts convenient access to major thoroughfares and city amenities. The land is zoned R1 - Residential, offering flexibility for a variety of development projects, subject to city approval. Potential uses include residential, assisted living facilities, or retail/office spaces. City utilities are already on-site, significantly reducing infrastructure costs and expediting the development process. The asking price is $4,000,000, translating to a land value of $7 per square foot. This represents a compelling investment opportunity given the property's size, location, and potential for diverse development scenarios. The property's address is 5521 Gem Lake Rd, Amarillo, TX 79106, situated in Randall County. Detailed site plans and zoning information are readily available upon request. This prime location and the existing infrastructure make this a highly attractive proposition for developers seeking a strategic foothold in the Amarillo market. Don't miss this chance to acquire a substantial tract of land with significant development potential in a thriving Texas city.

    Property Features for 5521 Gem Lake Rd

    General Information

    Property type
    Land
    Lot Size
    576,299 SF

    HighLights

    • City utilities available on‑site.
    • Development‑ready site suitable for residential, assisted living, and retail/office uses (subject to city approvals).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Nail Salon Building Supply Clothing Store Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.898998
    Latitude
    35.211651

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    FAQs

    What type of property is this?
    Land - 13.23 Acres, Development Ready
    Where is this land located?
    The property is located at 5521 Gem Lake Rd Amarillo, TX.
    What is the asking price?
    The asking price for this property is $4,000,000.
    What are key features of this property?
    This property features: City utilities available on-site.; Development-ready site suitable for residential, assisted living, and retail/office uses (subject to city approvals).;
    (806) 373-3111
    Request Owner's contact information
    5521 Gem Lake Rd Amarillo, TX 79106
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    Amarillo, TX 79106
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5521 Gem Lake Rd Amarillo, TX 79106
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