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    The Largest CRE Database in the US with Over 1 Million Listings

    Amarillo Blvd At Plum Crk Amarillo, TX 79124

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    Prime Retail Development Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    411
    This exceptional 16.06-acre commercial land parcel in Amarillo, Texas, presents a unique investment opportunity. Located on Amarillo Boulevard at Plum Creek, this property boasts a highly desirable General Retail (GR) zoning designation. The site is strategically positioned near major retailers including Starbucks, Wendy's, McDonald's, Chick-fil-A, O'Reilly Auto Parts, Toot'n'Totum, and is within close proximity to United Supermarket, Lowe's, Walmart, Walgreens, and Tractor Supply. Furthermore, its location is only one mile from Harrington Regional Medical Center, ensuring high visibility and accessibility. The property offers excellent access from Amarillo Boulevard, Plum Creek Drive, and Tascosa Road, with all utilities readily available. The land is divided into three lots, offering flexibility for various development scenarios. Lot 1, approximately 68,904 square feet, is priced at $14 per square foot and features a 30-foot drive to Amarillo Boulevard for optimal access and signage. Lot 2, approximately 60,000 square feet, is situated on Plum Creek and priced at $8 per square foot. Lot 3 encompasses 13.1 acres and is priced at $6.50 per square foot. The property includes front and rear access drives from Plum Creek to Tascosa Drive, enhancing logistical efficiency. This prime location and versatile layout make this an ideal site for a variety of commercial developments. The property's strategic location and proximity to major retailers and medical facilities make it an exceptional investment opportunity with significant potential for growth and return. The zoning allows for a wide range of retail uses, making it suitable for various development plans. Don't miss this chance to acquire a highly sought-after commercial land parcel in a thriving Amarillo location. The zip code is 79124, and the Potter County location ensures easy access to major transportation routes.

    Property Features for 0 Amarillo Blvd At Plum Crk

    General Information

    Property type
    Land
    Lot Size
    699,574 SF

    We can help!

    Listing Contact
    Ben Whittenburg
    Ben Whittenburg

    Learn more

    HighLights

    • Excellent access via Amarillo Blvd, Plum Creek Dr, and Tascosa Rd.
    • All utilities are available on‑site.
    • Dual access driveways connect Plum Creek Dr and Tascosa Rd.
    • High‑traffic location adjacent to Toot'n'Totum, Wendy's, McDonald's, Chick‑fil‑A, O'Reilly Auto Parts, and Starbucks.
    • Strong surrounding retail including United Supermarket, Lowe's, Walmart, Walgreens, Tractor Supply, and within one mile of Harrington Regional Medical Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.9002400138
    Latitude
    35.216686129397

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    FAQs

    What type of property is this?
    Land - Prime Retail Development Opportunity
    Where is this land located?
    The property is located at Amarillo Blvd At Plum Crk Amarillo, TX.
    What are key features of this property?
    This property features: Excellent access via Amarillo Blvd, Plum Creek Dr, and Tascosa Rd.; All utilities are available on-site.; Dual access driveways connect Plum Creek Dr and Tascosa Rd.
    (806) 373-3111
    Request Owner's contact information
    Amarillo Blvd At Plum Crk Amarillo, TX 79124
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Amarillo Blvd At Plum Crk Amarillo, TX 79124
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    We can help!
    Listing Contact
    Ben Whittenburg
    Ben Whittenburg
    Real Estate License ID: TX SA664767000
    (806) 373-3111
    Learn more
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