Building Details

Year Built 1945

Listing Agency: Pace Realty Group

Listed By: Jarec Pace · License #0652486 Show Phone

Source: Shopamarillohomes

Added: Jul 23 Changed: Aug 28 Last Checked: Aug 24 at 6:51AM

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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 Pace Realty Group

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Investment Insights

Based on property information with market context.

This flex space is set up for both office and shop use, featuring three private offices and a reception area. The property also includes a large shop area with full heat and air in all spaces, along with a fully insulated roof designed to help manage operating costs. Electrical service is described as three-phase to support a range of operational needs.

The offering includes a large lot that is fully fenced with solid metal fencing, providing defined outdoor space for activities that require separation and control.

Overall, the layout combines dedicated office rooms with a substantial, climate-controlled shop component within a secured fenced yard.

Key Highlights

• Flex property built in 1945 with a large, fully fenced lot
• Includes 3 private offices plus a reception area
• Large shop with heat and air in all spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,070

Cap Rate

6.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$301,400 $301.4K

Cap Rate 7%

$215,286 $215.3K

Cap Rate 9%

$167,444 $167.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,100 SF

Gross rent

$25.2K $12.00/SF

− Vacancy

−$2.0K −$0.96/SF

EGI

$23.2K $11.04/SF

− OpEx

−$8.1K −$3.86/SF

NOI

$15.1K $7.18/SF

Area

Amarillo, TX

Vacancy

8.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$301,400

Cap Rate 7%

$215,286

Cap Rate 9%

$167,444

Alternative Uses

Best Use

Office B

$344.3K

$301.2K – $401.6K (±1% cap)

NOI $24,098 @ 7.0% cap · market cap 10.95%

Second Best

Flex RnD

$215.3K

$188.4K – $251.2K (±1% cap)

NOI $15,070 @ 7.0% cap · market cap 6.85%

Theoretical Best

Office A

$468.9K

$410.3K – $547.0K (±1% cap)

NOI $32,820 @ 7.0% cap · market cap 14.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office Grocery & Convenience Store Veterinary Clinic Acupuncture Catering Service Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Heavy power

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

1,645

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 79101, TX

2,307

Population

1,309

Households

1.8

Avg Household Size

51

Median Age

15%

College-Educated

81%

High-School Grad

1.6 sq mi

ZIP Area

1,442

Density / Sq Mi

$40,313

Median Household Income

$36,409

Median Earnings

$898

Median Rent

$152,300

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex property includes a large fully fenced lot, three private offices, and a sizeable heated and cooled shop.

Where is this flex space located?

The property is located at 919 Sw 8th Avenue Amarillo, TX.

What is the asking price?

The asking price for this property is $220,000.

What are key features of this property?

This property features: Flex property built in 1945 with a large, fully fenced lot; Includes 3 private offices plus a reception area; Large shop with heat and air in all spaces