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    Property profile & analytics

    206 16th St Canyon, TX 79015-2411

    • Warehouses
    • 4,000 SF
    • 3.74 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2021
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3991663
    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

    • Buff Storage / Storage Facility

    Property Details for 206 16th St

    Year built
    2007
    Lot size
    3.74 lot acres
    Property size
    4,000 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    R-065-1895-0300
    APU
    R06518950300

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $640,000
      6.5%
      $590,000
      7%
      $545,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $574,000
      Market price range: $190k - $574k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $415,000
      Current use
      OFFICE BUILDING
      $700,000
      Change: +69% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $645,000
      Change: +56% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $525,000
      Change: +27% Conversion: Easy
      RETAIL STORES
      $470,000
      Change: +14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Canyon
    County
    Randall
    State
    Texas
    Longitude
    -101.927
    Latitude
    34.9845
    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
    2018
    $9,932
    $162,914
    $506,852
    $669,766
    -
    $162,914
    $506,852
    $669,766

    Comparable in this City

    • Value Estimation by Request
      3,600 SF

      1100 1st Ave

      MINI-WAREHOUSE, STORAGE • 3,600 SF
      1100 1st Ave, Canyon, TX 79015
      View Details
    • Value Estimation by Request
      3,920 SF

      405 2nd Ave

      MINI-WAREHOUSE, STORAGE • 3,920 SF
      405 2nd Ave, Canyon, TX 79015
      View Details
    • Value Estimation
      $915,000
      9,900 SF

      83 Cyn E Pkwy

      MINI-WAREHOUSE, STORAGE • 9,900 SF
      83 Cyn E Pkwy, Canyon, TX 79015-1230
      View Details
    • Value Estimation
      $620,000
      4,275 SF

      15620 Ih 27th Rd

      MINI-WAREHOUSE, STORAGE • 4,275 SF
      15620 Ih 27th Rd, Canyon, TX 79015
      View Details
    • Value Estimation
      $1,095,000
      7,750 SF

      1205 23rd St

      MINI-WAREHOUSE, STORAGE • 7,750 SF
      1205 23rd St, Canyon, TX 79015-5331
      View Details
    • Value Estimation by Request
      2,125 SF

      3809 4th Ave

      MINI-WAREHOUSE, STORAGE • 2,125 SF
      3809 4th Ave, Canyon, TX 79015-3240
      View Details

    Similar Nearby for Sale

    • $298,500
      2.14 Acres

      Canyon Industrial Land - Hwy 60

      2.14 Acres, Hwy 60 Frontage, Ready to Build
      10350 Us Highway 60, Canyon, TX 79015
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    • $298,500
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      Canyon Hwy 60 Commercial Land

      1.94 Acres, Hwy 60 Frontage, Development Ready
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    • $42,950
      1.00 Acre

      Land For Sale in Canyon

      Acreage available near Canyon Country Club with no HOA.
      19901 Crk Rdg, Canyon, TX 79015
      View Details
    • $42,950
      1.00 Acre

      Land Near Canyon Country Club

      Acreage near Canyon, TX, animals and shops allowed.
      20400 Crk Rdg, Canyon, TX 79015
      View Details
    • $78,500
      5.10 Acres

      Land Near Canyon, Texas

      5+/- acre tract near Canyon, WTAMU, and Amarillo.
      60 - Tract 015, Canyon, TX 79015
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    • $125,000
      12.50 Acres

      Residential Land in Canyon, TX

      Unimproved homesite tracts with owner financing near Canyon and Amarillo.
      1 Hix Rd, Canyon, TX 79015
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    Similar Nearby for Lease

    • $9 SF/Yr
      9,000 SF

      Canyon Industrial Flex Space

      9,000 SF Flex Space - I-27 Access
      18600 I-27 Frontage Rd Cyn, Canyon, TX 79015
      View Details
    • $775,000
      7,784 SF

      Downtown Canyon Commercial Space Available

      Flexible commercial space in a high-traffic, growing downtown area.
      408 15Th St, Canyon, TX 79015
      View Details
    • $20 SF/Yr
      2,304 SF

      Canyon Office Space For Lease

      Office space in Canyon suitable for various business uses.
      2100 Soncy Rd, Canyon, TX 79015
      View Details
    • $18 SF/Yr
      14,400 SF

      Canyon Retail Space - 3600 SF Available

      Prime Canyon retail space near WTAMU
      3404 4Th Ave, Canyon, TX 79015
      View Details
    • $22 SF/Yr
      6,700 SF

      Canyon Retail Space Available

      Prime Canyon storefront, 1,250-2,588 sq ft.
      710 23Rd St, Canyon, TX 79015
      View Details
    • $19 SF/Yr

      Restaurant Space Near WTAMU Campus

      Second-generation restaurant space adjacent to West Texas A&M University.
      2811 4Th Ave, Canyon, TX 79015
      View Details
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    206 16th St
    Canyon, TX 79015-2411
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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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