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

    2708 27th Ave Amarillo, TX 79103-4308

    • Office buildings
    • 1,875 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Aug 05, 2022
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    7%
    Office buildings
    Location Intelligence
    Property ID
    US82-2129622
    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

    • Office buildings

    Property Details for 2708 27th Ave

    Year built
    1965
    Lot size
    0.28 lot acres
    Property size
    1,875 SF
    Zone code
    GR
    Property type
    Office buildings
    APN
    R-035-1600-5493
    APU
    R03516005493

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $385,000
      6.5%
      $355,000
      7%
      $330,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $300,000
      Current use
      COMMERCIAL (GENERAL)
      $305,000
      Change: +3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.806
    Latitude
    35.1854
    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
    $2,448
    $21,344
    $90,804
    $112,148
    -
    $21,344
    $90,804
    $112,148

    Comparable in this City

    • Value Estimation
      $285,000
      1,360 SF

      2419 Grand St

      OFFICE BUILDING • 1,360 SF
      2419 Grand St, Amarillo, TX 79103-5205
      View Details
    • Value Estimation
      $310,000
      1,400 SF

      834 34th Ave

      OFFICE BUILDING • 1,400 SF
      834 34th Ave, Amarillo, TX 79103-5800
      View Details
    • Value Estimation
      $295,000
      3,400 SF

      2701 Grand St

      OFFICE BUILDING • 3,400 SF
      2701 Grand St, Amarillo, TX 79103-5406
      View Details
    • Value Estimation
      $325,000
      760 SF

      2909 27th Ave

      OFFICE BUILDING • 760 SF
      2909 27th Ave, Amarillo, TX 79103-4901
      View Details
    • Value Estimation
      $420,000
      2,241 SF

      2620 Osage St

      OFFICE BUILDING • 2,241 SF
      2620 Osage St, Amarillo, TX 79103-3048
      View Details
    • Value Estimation
      $265,000
      1,440 SF

      3801 Air Park St

      OFFICE BUILDING • 1,440 SF
      3801 Air Park St, Amarillo, TX 79103
      View Details

    Similar Nearby for Sale

    • $650,000
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      Adaptable Commercial Space, High Visibility

      Versatile commercial property with high visibility, ready for customization.
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    • Contact for pricing
      1 SF

      Commercial Lots in Lawndale Neighborhood

      Commercial land ideal for retail, restaurant, or service use.
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    • $668,315

      Amarillo Commercial Land - I-40 Frontage

      Prime I-40 location, 70,232 SF commercial lot.
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    • $1,350,000

      89-Acre Land Parcel in Amarillo

      89-acre land parcel suitable for residential development in Amarillo.
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    • $668,315
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      Vacant Land I-40 Frontage

      Vacant land with high traffic and excellent visibility.
      1707 Nelson & I-40 East, Amarillo, TX 79103
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    • New
      $60,000
      Pending

      Residential Land in Amarillo, TX

      Unimproved residential land, approximately 13,000 sq ft, fully fenced.
      2810 S Wilson St, Amarillo, TX 79103
      View Details

    Similar Nearby for Lease

    • $22 SF/Yr
      3,665 SF

      Class A Office Building

      Exclusive office building with atrium and expansive green space.
      5601 W Interstate 40, Amarillo, TX 79103
      View Details
    • Contact for pricing
      131,721 SF

      Amarillo Multi-Use Campus

      131,721 SF, 15-Acre Campus, TX
      2401 Osage St, Amarillo, TX 79103
      View Details
    • Contact for pricing
      10,844 SF

      Retail Space in Amarillo Center

      158,656 SF shopping center anchored by Amigos & Ross.
      3300 Interstate 40 E, Amarillo, TX 79103
      View Details
    • $3 SF/Yr
      112,775 SF

      Versatile Warehouse and Office Complex

      Large industrial property with office, warehouse, and secured storage.
      421 SE 34Th Ave, Amarillo, TX 79103
      View Details
    • $1,200 /Mo
      1,500 SF

      Retail Space with High Visibility

      Retail space with open layout, storage, and ample parking.
      2700 S Grand St, Amarillo, TX 79103
      View Details
    • Contact for pricing
      1,867 SF

      Retail Space in High-Traffic Plaza

      Retail space available in a busy Amarillo shopping center.
      3440 SW 34Th Ave, Amarillo, TX 79103
      View Details
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    2708 27th Ave
    Amarillo, TX 79103-4308
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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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