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    320 Polk St Amarillo, TX 79101

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    For Lease
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    Downtown Amarillo Executive Suites, Ample Parking

    Lot size:
    112,617 SF

    Property Features for 320 Polk St

    General Information

    Property type
    Office properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    112,617 SF
    Total Rate
    164233.13

    Building Details

    Year Built
    1960

    Spaces For Lease

    at 320 Polk St, Amarillo, TX 79101 Contact us
    Unit Suite 310

    $17 /Mo

    Size
    1,453 SF
    Contact us
    Unit Suite 601

    $17 /Mo

    Size
    8,398 SF
    Contact us
    Unit Suite 400 - Full Floor

    $17 /Mo

    Size
    8,398 SF
    Contact us
    Unit Suite 700

    $17 /Mo

    Size
    8,398 SF
    Contact us
    Unit Suite 830

    $17 /Mo

    Size
    1,242 SF
    Contact us
    Unit Suite 900

    $17 /Mo

    Size
    2,000 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Aaron Emerson, Ccim, Sior
    Aaron Emerson, Ccim, Sior

    Listing Agency: Gaut Whittenburg Emerson CRE Listing Agent: Aaron Emerson, Ccim, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    The Maxor Building, a multi-tenant office building situated in the heart of Amarillo's Central Business District (CBD), offers 112,617 square feet of prime office space. Built in 1960, this building boasts a convenient location at the corner of Polk and SW 4th Avenue, providing easy access to county and federal courthouses. Currently, there are six available executive office suites ranging from 1,242 to 30,000 contiguous square feet, with a total of 52,500 square feet currently vacant. The building features ample parking, including both surface and covered options, adding significant convenience for tenants and their clients. A unique amenity is its direct connection to the Downtown Athletic Club, Amarillo's premier athletic club powered by Cooper Aerobics, offering tenants access to exceptional fitness facilities. Furthermore, tenants can enjoy the benefits of Maxor Park, a green space ideal for tenant gatherings or simply a relaxing break. On-site building owners ensure responsive management, and a live security guard service provides peace of mind. A shared conference room is also available for tenant use. This property presents a compelling opportunity for businesses seeking a well-maintained, centrally located office space in Amarillo's vibrant downtown core. The zoning is designated as CBD.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Firewood Amarillo TX Big Box & Wholesale Store Maxor National Pharmacy ... Medical Clinic ABRAHAMSON & ASSOCIATES, LLC General Contractor Ralph Roberts Personal ... Gym & Fitness Center Bomb City Basketball Gym & Fitness Center

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Building Supply Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Law Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.8370102
    Latitude
    35.2100272

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    FAQs

    What type of property is this?
    Office property - Downtown Amarillo Executive Suites, Ample Parking
    Where is this office property located?
    The property is located at 320 Polk St Amarillo, TX.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: 112,617 square foot office building with multiple tenancies.; Executive suites available, ranging from 1,242 to 30,000 contiguous square feet.; 52,500 square feet of vacant space currently available.
    (806) 373-3111 Call to check price and availability
    Request Owner's contact information
    320 Polk St Amarillo, TX 79101
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    Amarillo, TX 79101
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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
    320 Polk St Amarillo, TX 79101
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Aaron Emerson, Ccim, Sior
    Aaron Emerson, Ccim, Sior
    (806) 373-3111
    Learn more
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