Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Hollywood Rd Amarillo, TX 79119

    • Land
    • 44.05 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Hollywood Rd

    Lot size
    44.05 lot acres
    Property type
    Land

    Description

    This exceptional 44.05-acre commercial and residential land parcel presents a unique investment opportunity in Amarillo, Texas. Strategically located on Hollywood Road in Randall County, zip code 79119, this property boasts an impressive one mile of road frontage. The land is already platted into sixteen individual commercial lots, offering flexibility for various development scenarios. A recent appraisal valued the entire property at $9,400,000 (bulk) and $12,390,000 (retail, individual lots). This listing offers a significant discount, priced at 66% of the appraised bulk value and 50% of the retail value, representing a compelling investment opportunity. The asking price is $6,215,000. While the individual lots will continue to be marketed separately, this bulk purchase presents a substantial advantage. This property is situated in a rapidly growing area of Amarillo, making it an ideal location for commercial development. Further details regarding lot availability and additional information can be obtained by contacting the office.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.914
    Latitude
    35.1165

    Comparable in this City

    • Value Estimation by Request

      Coulter St

      Land
      0 Coulter St, Amarillo, TX 79119
      View Details
    • Value Estimation by Request
      2.14 Acres

      9000 Soncy Rd

      Land • 2.14 Acres
      9000 Soncy Rd, Amarillo, TX 79119
      View Details
    • Value Estimation by Request
      47.00 Acres

      335 Between Arden & Hollywood

      Land • 47.00 Acres
      335 Between Arden & Hollywood, Amarillo, TX 79119
      View Details
    • Value Estimation by Request
      5.40 Acres

      I-27 Sundown Ln

      Land • 5.40 Acres
      I-27 Sundown Ln, Amarillo, TX 79119
      View Details
    • Value Estimation by Request
      14.03 Acres

      11825 Fm 2590

      Land • 14.03 Acres
      11825 Fm 2590, Amarillo, TX 79119
      View Details
    • Value Estimation by Request
      0.84 Acres

      Of Hillside

      Land • 0.84 Acres
      0 Of Hillside, Amarillo, TX 79119
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Amarillo Commercial Land Investment

      81 Acres, High-Visibility Frontage
      0 Coulter St, Amarillo, TX 79119
      View Details
    • Contact for pricing
      0.84 Acres

      Amarillo Commercial Land - Prime Location

      High-visibility lot, ready for development.
      0 Of Hillside, Amarillo, TX 79119
      View Details
    • Contact for pricing
      1.10 Acres

      Amarillo Commercial Land - Loop 335

      Prime Amarillo land, multiple lots available.
      NEC New Loop 335/Helium Rd & Hollywood Rd, Amarillo, TX 79119
      View Details
    • Contact for pricing
      7.46 Acres

      Amarillo Commercial Land Investment

      7.46 Acres, High Visibility, SW Amarillo
      0 Soncy At Hollywood, Amarillo, TX 79119
      View Details
    • $175,000
      1.17 Acres

      Amarillo Commercial Land - 1.17 Acres

      Prime Amarillo commercial lot, build-to-suit.
      7632 Jackelope Trl, Amarillo, TX 79119
      View Details
    • Contact for pricing
      1.11 Acres

      Amarillo Commercial Land - 1.11 Acres

      Prime Amarillo land, ideal for development.
      9100 Soncy Rd, Amarillo, TX 79119
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      40,075 SF

      South Amarillo Commercial Land

      Prime 1-Acre Development Site
      8639 Coulter St, Amarillo, TX 79119
      View Details
    • $10 SF/Yr
      13,500 SF

      Flex Space in Randall County

      13,500 SF Industrial Building, 3 Units Available
      19300 County Road 34, Amarillo, TX 79119
      View Details
    • $25 SF/Yr
      2,209 SF

      Retail Space on Hillside Road

      Retail space with high visibility and traffic in Amarillo, TX.
      7669 Hillside Rd, Amarillo, TX 79119
      View Details
    • $24 SF/Yr
      1,556 SF

      New Construction Retail/Office Space

      New construction office or retail space for lease.
      Pennsylvania Dr, Amarillo, TX 79119
      View Details
    • $18 SF/Yr
      12,000 SF

      Prime Retail Space in Amarillo

      Two Suites Available, High-Traffic Location
      0 Buccola & Soncy - The Markets At Soncy, Amarillo, TX 79119
      View Details
    • $24 SF/Yr
      2,259 SF

      Modern Retail Space on Hillside

      Finished retail space in high-traffic Amarillo location.
      7410 Hillside Rd, Amarillo, TX 79119
      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.
    Hollywood Rd
    Amarillo, TX 79119
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.