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

    1638 12Th Ave Amarillo, TX 79107

    • High-rise multifamily apartments
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-0214483
    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

    • High-rise multifamily apartments

    Property Details for 1638 12Th Ave

    Property type
    High-rise multifamily apartments

    Description

    This exceptional 14,000 square foot multi-family lot presents a remarkable investment opportunity in Amarillo, Texas. Located at 1638 & 1644 NW 12th Ave, this property boasts convenient access to essential amenities and is situated directly across the street from Carver Elementary School, offering a highly desirable location for residential development. The lot measures approximately 100 feet wide by 140 feet deep, providing ample space for a substantial multi-family project. The property is zoned for multi-family use, simplifying the development process. Existing utilities are readily available on-site, further streamlining construction. A detailed bid package is available upon request. This prime location, combined with its multi-family zoning and convenient access to utilities, makes this an exceptional opportunity for developers seeking to capitalize on the growing Amarillo real estate market. The property's proximity to Carver Elementary School adds significant appeal to potential residents. This is a rare chance to acquire a well-positioned, sizable lot in a thriving Texas community. Don't miss this chance to secure this valuable asset. The asking price is $14,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.85516415731
    Latitude
    35.226177818376

    Comparable in this City

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      Amarillo, TX Vacant Land

      Vacant lot available for sale in Amarillo, Texas.
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    Similar Nearby for Sale

    • $252,500
      14.43 Acres

      Amarillo Commercial Land - 14 Acres

      Prime Amarillo land, multi-family & heavy commercial zoning.
      0 Bolton St, Amarillo, TX 79107
      View Details
    • $135,000
      1,320 SF

      Amarillo Triplex Investment Opportunity

      Triplex in Amarillo, Texas with updated plumbing and electrical.
      106 NE 11Th Ave, Amarillo, TX 79107
      View Details
    • $485,000
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      Amarillo Land: Retail & Residential

      11-Acre Tract, Prime Location, $485K
      and Hastings Land River Rd, Amarillo, TX 79107
      View Details
    • $899,000

      100 Acres Industrial Land Tract

      Large industrial tract with I-2 zoning and rail access.
      500 N Eastern St, Amarillo, TX 79107
      View Details
    • $568,458

      Prime Land in Amarillo, TX

      Commercial land with city utilities, near I-40 and Amarillo Airport.
      11101 SE 3Rd Ave, Amarillo, TX 79107
      View Details
    • $46,237
      0.16 Acres

      Amarillo, TX Vacant Land

      Vacant lot available for sale in Amarillo, Texas.
      825 N Seminole St, Amarillo, TX 79107
      View Details

    Similar Nearby for Lease

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      Amarillo Office Space Available

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    • $1,500 /Mo

      New Retail Space For Lease

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      Retail Space For Lease

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      Retail Space in Amarillo, TX

      New retail spaces available for lease in Amarillo, Texas.
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    • $1,300 /Mo
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      Industrial Space with Dock Door

      Warehouse space featuring a dock high overhead door for rent.
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      Warehouse/Office Space For Lease

      Large warehouse/office space with open floor plan and parking.
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    1638 12Th Ave
    Amarillo, TX 79107
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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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