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    Property profile & analytics

    100 W Westgate Pkwy Amarillo, TX 79121

    • Retail space
    • 14,461 SF
    • 1.37 lot acres
    For Lease
    View listing
    $20 SF/Yr
    Value Estimations
    $555,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0252872
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Barnes Jewelry / Jewelry Repair Service / Watch Store

    Property Details for 100 W Westgate Pkwy

    Year built
    1989
    Lot size
    1.37 lot acres
    Property size
    14,461 SF
    Zone code
    PD
    Property type
    Retail space
    APN
    R-086-1580-3070
    APU
    R08615803070

    Description

    This exceptional 14,461 square foot retail property presents a unique investment or leasing opportunity. Located on Westgate Parkway, this single-tenant building boasts a highly desirable location near Interstate 40 and Westgate Mall, ensuring high visibility and significant foot traffic. The property features two convenient front entrances, providing easy access for customers. Ample parking is available, enhancing the convenience for both employees and patrons. Inside, the building offers 11 well-appointed offices, four bathrooms, and multiple storage rooms, providing versatile space for a variety of business needs. The property benefits from a well-maintained HVAC system for climate control, a recently replaced hot water heater (2021), and a newer roof (2017), minimizing maintenance concerns. Its strategic location near popular national retailers such as Target and Best Buy further enhances its appeal and potential for success. This property is ideally suited for a business seeking a prominent presence in a thriving commercial area with excellent accessibility and high traffic counts. The combination of its prime location, modern amenities, and functional layout makes this an exceptional opportunity for growth and profitability. This is a rare chance to acquire a well-maintained, high-traffic retail space in a sought-after location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $555,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.933
    Latitude
    35.1853
    CBSA code
    11100
    CBSA name
    AMARILLO, TX METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $29,127
    $417,740
    $1,336,871
    $1,754,611
    -
    $417,740
    $1,336,871
    $1,754,611

    Comparable in this City

    • Value Estimation
      $375,000
      7,778 SF

      8511 Interstate 40

      RETAIL STORES (PERSONAL SERVICES) • 7,778 SF
      8511 Interstate 40, Amarillo, TX 79121-2000
      View Details
    • Value Estimation
      $365,000
      9,928 SF

      111 Westgate Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 9,928 SF
      111 Westgate Pkwy, Amarillo, TX 79121-1103
      View Details
    • Value Estimation
      $485,000
      12,600 SF

      4320 Lk Frnt Ln

      RETAIL STORES (PERSONAL SERVICES) • 12,600 SF
      4320 Lk Frnt Ln, Amarillo, TX 79121-1948
      View Details
    • Value Estimation
      $165,000
      5,777 SF

      3435 Reeder Dr

      GYM, HEALTH SPA • 5,777 SF
      3435 Reeder Dr, Amarillo, TX 79121-1522
      View Details
    • Value Estimation
      $900,000
      45,816 SF

      101 Westgate Pkwy

      WHOLESALE OUTLET, DISCOUNT STORE • 45,816 SF
      101 Westgate Pkwy, Amarillo, TX 79121-1103
      View Details
    • Value Estimation
      $420,000
      5,689 SF

      8101 Interstate 40

      RESTAURANT • 5,689 SF
      8101 Interstate 40, Amarillo, TX 79121-1105
      View Details

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    Amarillo, TX 79121
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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
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