Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    and Hastings Land River Rd Amarillo, TX 79107

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    and Hastings Land River Rd Amarillo, TX 79107

    View on Map
    • Land
    • 11.08 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for and Hastings Land River Rd

    Lot size
    11.08 lot acres
    Property type
    Land

    Description

    This exceptional 11.08-acre property in Amarillo, Texas, presents a unique investment opportunity. Strategically located at the intersection of River Road and Hastings, this land boasts significant frontage on both major thoroughfares, measuring approximately 275 feet on River Road and 310 feet on Hastings. The property's zoning allows for a blend of retail and residential development, offering considerable flexibility for future projects. A substantial portion, 8.04 acres, is zoned for General Retail, while the remaining 3.04 acres are designated for Residential use. This advantageous zoning, coupled with the high-traffic location, makes it ideal for a variety of commercial and residential ventures. The property enjoys convenient utility access from both River Road and Hastings. Its prime location is further enhanced by its proximity to established businesses and residential communities, including United Supermarkets, Mariposa senior living (96 units), and Cypress Creek Apartment Homes (156 units). The asking price is $485,000, translating to an average of $1.00 per square foot. This represents a compelling value proposition given the property's size, zoning, and strategic location in a thriving Amarillo neighborhood. The property is situated in Potter County, Texas, with a zip code of 79107.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.809
    Latitude
    35.2374

    Comparable in this City

    • Value Estimation by Request
      10.00 Acres

      8800 Triangle Dr

      Multifamily properties • 10.00 Acres
      8800 Triangle Dr, Amarillo, TX 79107
      View Details
    • Value Estimation by Request
      10.00 Acres

      SEC Rusk St

      Multifamily properties • 10.00 Acres
      SEC Rusk St, Amarillo, TX 79107
      View Details
    • Value Estimation by Request
      14.43 Acres

      Bolton St

      Multifamily properties • 14.43 Acres
      0 Bolton St, Amarillo, TX 79107
      View Details
    • Value Estimation by Request

      1900-1908 12Th Ave

      Multifamily properties
      1900-1908 12Th Ave, Amarillo, TX 79107
      View Details
    • Value Estimation by Request

      1928 12Th Ave

      Multifamily properties
      1928 12Th Ave, Amarillo, TX 79107
      View Details
    • Value Estimation by Request

      1638 12Th Ave

      Multifamily properties
      1638 12Th Ave, Amarillo, TX 79107
      View Details

    Similar Nearby for Sale

    • $87,083
      0.16 Acres

      Amarillo, TX Land For Sale

      Land available in Amarillo, Texas.
      1434 NW 11Th Ave, Amarillo, TX 79107
      View Details
    • $199,000

      14.43 Acres Multi-Use Land

      14.43 acres, partially zoned multi-family and heavy commercial.
      NEC N Bolton St, Amarillo, TX 79107
      View Details
    • $86,333
      0.19 Acres

      Amarillo, TX Vacant Land

      Vacant land for sale in Amarillo, Texas.
      503 N Jefferson St, Amarillo, TX 79107
      View Details
    • $78,467
      0.16 Acres

      Amarillo, TX Vacant Land

      Vacant land available for sale in Amarillo, Texas.
      1338 NW 10Th Ave, Amarillo, TX 79107
      View Details
    • New
      $135,000
      1,320 SF

      Amarillo Triplex Investment Opportunity

      Triplex in Amarillo, Texas, featuring two 1/1 and one 2/1.
      106 NE 11Th Ave, Amarillo, TX 79107
      View Details
    • $130,000
      0.16 Acres

      Amarillo Duplex: Income Opportunity

      Turnkey duplex in Amarillo with immediate rental income.
      716 N Mirror St, Amarillo, TX 79107
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Amarillo Pad Site For Sale

      0.74 AC pad site in dense Amarillo area.
      600 E Amarillo Blvd, Amarillo, TX 79107
      View Details
    • $1,300 /Mo
      11,534 SF

      Industrial Space with Dock Door

      Warehouse space featuring a dock high overhead door for rent.
      511 N Williams St, Amarillo, TX 79107
      View Details
    • Contact for pricing
      8,471 SF

      Warehouse/Office Space For Lease

      Large warehouse/office space with open floor plan and parking.
      1301 SE 10Th Ave, Amarillo, TX 79107
      View Details
    • $2,400 /Mo
      2,400 SF

      Industrial Space with LED Lighting

      2,400 SF industrial space featuring LED lighting and epoxy floors.
      8205 W Amarillo Blvd, Amarillo, TX 79107
      View Details
    • New
      $1,707 /Mo

      Prime Retail Space in Amarillo

      Commercial space in a dynamic shopping center off Amarillo Blvd.
      819 Martin Rd, Amarillo, TX 79107
      View Details
    • Contact for pricing

      Versatile Warehouse with Office Space

      Two-story office and insulated warehouse with parking and secure fencing.
      511 N Fillmore St, Amarillo, TX 79107
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    and Hastings Land River Rd
    Amarillo, TX 79107
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!