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Property profile & analytics
OFF-MARKET
Estimated value
$6,675,000
Medical Office Space
1400 Wallace Blvd Amarillo, TX 79106-1708
Individually Owned
Free & Clear
Property ID
US82-4865814
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1974
Total area
75,516 SF
Lot
5.12 ac (223,027 SF)
Zoning code
PD
APN
R-001-0750-0320
UPID
US82-4865814
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Garms Joe PhD Physician Medical Clinic
-
Castracane Daniel Physician Medical Clinic
-
Texas Tech University Surgery Clinic: Feola Mario MD Physician
-
Bradford Dawn M MD Physician
-
Harrington Library of the Health Sciences Publishing House
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.26M
Blend (final)
Blend
$6.68M
Owner & transaction history
TEXAS TECH UNIVERSITY
TEXAS TECH UNIVERSITY
Zoning & alternative use
PD · Amarillo, TX
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
remelting purposes, which is located in the A, GR, LC, CB, HC, I-1 and PD Zoning Districts. It also does not include the incidental outdoor display of commodities for retail sale where the use is permitted by section 4-10-82 in a GR General Retail District. Where either this designation of an open storage activity or another designation might apply, the more…
Zone name
Planned Development District
General category
PLANNED_DEVELOPMENT
Zone area
2.34 ac
Source
code of ordinances
Top alternative use upside
Retail stores
$10.6M
+93.1%
Auto repair, garage
$10.1M
+83.7%
Restaurant
$9.0M
+64.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Amarillo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Amarillo submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$5,505,000
Current use
RETAIL STORES
$10,630,000
Change: +93% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,110,000
Change: +84% · Conversion: Difficult
RESTAURANT
$9,045,000
Change: +64% · Conversion: Difficult
WAREHOUSE, STORAGE
$6,020,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$6.68M
Range $6.01M – $7.34M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$88 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$2.00
Tax year 2023
Assessed value
$8,029,354
Assessed 2024
Previous assessed
$5,730,946
+40.1% YoY
Effective rate
0.00%
On assessed value
Assessed land
$446,054
Assessed improvement
$7,583,300
Land market value
$446,054
Improvement market value
$7,583,300
Total market value
$8,029,354
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1974
Heating
YES
Cooling
YES
Buildings
2
Stories
2
Rooms
1
Total area
75,516 SF
Lot
5.12 ac (223,027 SF)
Zoning code
PD
APN
R-001-0750-0320
UPID
US82-4865814
Jurisdiction
POTTER
Zoning & alternative use
PD · Amarillo, TXZoning PD · permitted uses
PD · Amarillo, TX
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
remelting purposes, which is located in the A, GR, LC, CB, HC, I-1 and PD Zoning Districts. It also does not include the incidental outdoor display of commodities for retail sale where the use is permitted by section 4-10-82 in a GR General Retail District. Where either this designation of an open storage activity or another designation might apply, the more restrictive shall govern. (89) Secondhand Merchandise Dealers or Storage: The keeping, handling, storage or use of furniture, appliances and/or other merchandise or goods for sale or display. "Secondhand merchandise" is defined as an item which has previously been sold at the wholesale or retail level or previously used by an individual or business. Except in an I-2 Zoning District, any outdoor storage or display of such merchandise shall require visual screening to the standards set out in
Zone name
Planned Development District
General category
PLANNED_DEVELOPMENT
Zone area
2.34 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$5.5M
RETAIL STORES
Est. value
$10.6M
AUTO REPAIR, GARAGE
Est. value
$10.1M
RESTAURANT
Est. value
$9.0M
WAREHOUSE, STORAGE
Est. value
$6.0M
MEDICAL BUILDING Current
RETAIL STORES
AUTO REPAIR, GARAGE
RESTAURANT
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Heating
YES
Cooling
Yes
Stories
2
Buildings
2
Rooms
1
Lot
5.12 ac
Current owner
From public records · entity-resolved
TEXAS TECH UNIVERSITY
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 4058, LUBBOCK, TX 79409-0005
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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