Medical Office Building For
For Sale
Contact for pricing
Pending
1600 S Coulter, Amarillo, TX 79106
Medical office building with modern layout and convenient parking.
Property Size17,973 SF
Days on Market666
Property Features for 1600 S Coulter
General Information
Standard status
Pending
Size
17,973 SF
Class
A
Property subtype
Office
Zoning
PD - Planned Development
Building Details
Year Built
1980
Year Renovated
2011
Listing Agency:
Gaut Whittenburg Emerson CRE
Listed By:
Jeff Gaut · License #TX 0695613
(806) 373-3111
Source:
Crexi
Added: Nov 6, 2024
Changed: Aug 13
Last Checked: Sep 3 at 2:22AM
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 Gaut Whittenburg Emerson CRE
Investment Insights
Based on property information with market context.
This property, designed for four medical practitioners, features four separate entrances and exits. The interior was fully built out in 2011, providing a modern and functional layout. The property includes a 1,400 square foot basement file storage area. With a total property size of 17,973 square feet, the building could be divided into four 4,000 square foot units. Convenient parking is available around the building. The property is adaptable for a single user.
Key Highlights
- Designed for four medical practitioners with four separate entrances and exits.
- Adaptable for single or multiple users; easily divided into four 4,000 sq ft units.
- Modern and functional layout due to full interior build‑out in 2011.
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
$206,240
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
4.58%
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%
$4,124,800
$4.1M
Cap Rate 7%
$2,946,286
$2.9M
Cap Rate 9%
$2,291,556
$2.3M
Market Conditions
NOI Build-Up for 17,973 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
$323.5K $18.00/SF
− Vacancy
−$48.5K −$2.70/SF
EGI
$275.0K $15.30/SF
− OpEx
−$68.7K −$3.82/SF
NOI
$206.2K $11.48/SF
Area
Amarillo, TX
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,124,800
Cap Rate 7%
$2,946,286
Cap Rate 9%
$2,291,556
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.44M
NOI $206,240 @ 7.0% cap · market cap 4.58%
Second Best
Healthcare Medical
$2.86M
$2.50M – $3.34M
NOI $200,190 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$4.01M
$3.51M – $4.68M
NOI $280,896 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,885
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 79106, TX
27,692
Population
13,385
Households
2.1
Avg Household Size
37
Median Age
24%
College-Educated
87%
High-School Grad
8.6 sq mi
ZIP Area
3,220
Density / Sq Mi
$54,407
Median Household Income
$36,061
Median Earnings
$995
Median Rent
$163,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Similar Off Market Nearby
- S P C A — 1900 Coulter St Suite G, Amarillo, TX 79106
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office building with modern layout and convenient parking.
Where is this medical office space located?
The property is located at 1600 S Coulter Amarillo, TX.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Designed for four medical practitioners with four separate entrances and exits.; Adaptable for single or multiple users; easily divided into four 4,000 sq ft units.; Modern and functional layout due to full interior build‑out in 2011.
