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

    2302 3rd Ave Amarillo, TX 79104

    • Commercial real estate
    • 3,184 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3554485
    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

    • Commercial real estate

    Property Details for 2302 3rd Ave

    Year built
    1940
    Lot size
    0.17 lot acres
    Property size
    3,184 SF
    Zone code
    I2
    Property type
    Commercial real estate
    APN
    R-014-0100-0320
    APU
    R01401000320

    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
    -101.812
    Latitude
    35.2073
    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
    $527
    $5,554
    $18,772
    $24,326
    -
    $5,554
    $18,772
    $24,326

    Comparable in this City

    • Value Estimation by Request
      0.32 Acres

      2412 3rd Ave

      COMMERCIAL (GENERAL) • 0.32 Acres
      2412 3rd Ave, Amarillo, TX 79104
      View Details
    • Value Estimation by Request
      0.76 Acres

      3110 10th Ave

      COMMERCIAL (GENERAL) • 0.76 Acres
      3110 10th Ave, Amarillo, TX 79104
      View Details
    • Value Estimation by Request
      0.24 Acres

      311 Browning St

      COMMERCIAL (GENERAL) • 0.24 Acres
      311 Browning St, Amarillo, TX 79104
      View Details
    • Value Estimation by Request
      1,681 SF

      4009 Rio Grande St

      COMMERCIAL (GENERAL) • 1,681 SF
      4009 Rio Grande St, Amarillo, TX 79104
      View Details
    • Value Estimation
      $2,780,000
      32,658 SF

      2801 3rd Ave

      COMMERCIAL (GENERAL) • 32,658 SF
      2801 3rd Ave, Amarillo, TX 79104-1036
      View Details
    • Value Estimation by Request
      2,400 SF

      308 Birmingham St

      COMMERCIAL (GENERAL) • 2,400 SF
      308 Birmingham St, Amarillo, TX 79104
      View Details

    Similar Nearby for Sale

    • $479,000
      2.20 Acres

      I-40 Amarillo Commercial Land

      Prime 2.2-acre commercial lot, I-40 visibility.
      1703 Pryor St, Amarillo, TX 79104
      View Details
    • $2,995,000

      Nelson Street Apartments: Amarillo, TX

      48-Unit Multifamily Value-Add Opportunity
      601 Nelson St, Amarillo, TX 79104
      View Details
    • Contact for pricing
      Pending

      Residential Land in Amarillo, Texas

      Land available for new home construction near schools and shopping.
      4209 SE 15Th Ave, Amarillo, TX 79104
      View Details
    • $2,995,000

      Updated Multifamily Property in Amarillo

      Multifamily property with recent capital improvements and updated units.
      601 S Nelson St, Amarillo, TX 79104
      View Details
    • $252,500

      14.43 Acres in Amarillo, TX

      14.43 acres, partially zoned multi-family and heavy commercial.
      1715 Bolton St, Amarillo, TX 79104
      View Details
    • Contact for pricing

      Retail Lot on Osage Street

      Retail lot with frontage, ideal for fuel or convenience store.
      4600 S Osage St, Amarillo, TX 79104
      View Details

    Similar Nearby for Lease

    • $600 /Mo

      I-40 Frontage Ground Lease

      High-visibility ground lease along I-40 in East Amarillo.
      3500 SE 16Th Ave, Amarillo, TX 79104
      View Details
    • $4 SF/Yr
      28,254 SF

      Amarillo Warehouse: 28,254 SF

      Large industrial warehouse, ideal distribution center.
      3333 3Rd Ave, Amarillo, TX 79104
      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.
    2302 3rd Ave
    Amarillo, TX 79104
    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.