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    2401 Osage St Amarillo, TX 79103

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    131,721 SF, 15-Acre Campus, TX

    Lot size:
    131,721 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    409
    This exceptional 131,721-square-foot multi-use campus in Amarillo, Texas, presents a unique investment opportunity. Situated on a sprawling 15.04-acre lot, this property boasts four buildings totaling 131,721 square feet, with ten individual suites. Originally constructed in 1964 and extensively renovated in 2004, the campus features a mix of medical, traditional, and creative office spaces, currently configured as a multi-tenant facility. The property includes a building with an F4 tornado rating, providing exceptional structural integrity. Further enhancing its resilience, the campus is equipped with four backup generators and a 15,000-gallon underground storage tank. Its prime location offers excellent access to both I-40 and I-27 interstates, complemented by a massive parking area. The expansive land parcel presents significant potential for future development. Zoned for general retail, this versatile property is ideally suited for a variety of uses, including call centers, claim centers, medical campuses, memory care facilities, or even a junior college or university campus. The property is available for sale or lease, and offers a turnkey opportunity with existing cubicles, chairs, desks, conference rooms, and break rooms. Located at 2401 S Osage St, Amarillo, TX 79103, in Potter County. The property is a single-story structure.

    Property Features for 2401 Osage St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    131,721 SF

    Building Details

    Year Built/Renovated
    1964/2004
    Buildings
    4
    Stories
    1

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    131,721 SF

    We can help!

    Listing Contact
    Ray Bayat
    Ray Bayat

    Learn more

    Property Insight Report

    HighLights

    • 131,721 SF multi‑use campus on a 15.04‑acre lot in Amarillo, TX.
    • Four buildings with ten individual suites; renovated in 2004.
    • Mix of medical, traditional, and creative office spaces; multi‑tenant configuration.
    • One building with F4 tornado rating; four backup generators and 15,000‑gallon underground tank.
    • Excellent I‑40 & I‑27 access; ample parking; zoned for general retail.
    • Turnkey opportunity with existing furniture; available for sale or lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Western National Life Insurance Agency

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.81239971667
    Latitude
    35.186436318021

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    FAQs

    What type of property is this?
    Office space - 131,721 SF, 15-Acre Campus, TX
    Where is this office space located?
    The property is located at 2401 Osage St Amarillo, TX.
    What are key features of this property?
    This property features: 131,721 SF multi-use campus on a 15.04-acre lot in Amarillo, TX.; Four buildings with ten individual suites; renovated in 2004.; Mix of medical, traditional, and creative office spaces; multi-tenant configuration.
    Request Owner's contact information
    2401 Osage St Amarillo, TX 79103
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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
    2401 Osage St Amarillo, TX 79103
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    We can help!
    Listing Contact
    Ray Bayat
    Ray Bayat
    Real Estate License ID: FLBO
    Learn more
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