Add Listing
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

    28 Western Plz Dr Amarillo, TX 79109-1569

    • Office buildings
    • 34,001 SF
    • 3.08 lot acres
    OFF-MARKET
    Value Estimations
    $3,625,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-1749336
    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

    • Texas Health & Human Services Department / Government Office

    Property Details for 28 Western Plz Dr

    Year built
    2010
    Lot size
    3.08 lot acres
    Property size
    34,001 SF
    Zone code
    PD A
    Property type
    Office buildings
    APN
    R-086-1435-0070
    APU
    R08614350070

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,589,000
      Market price range: $2.06M - $6.91M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,440,000
      Current use
      COMMERCIAL (GENERAL)
      $4,430,000
      Change: -0% Conversion: Easy
      RESTAURANT
      $3,635,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.881
    Latitude
    35.188
    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
    $54,091
    $670,824
    $1,829,176
    $2,500,000
    -
    $670,824
    $1,829,176
    $2,500,000

    Comparable in this City

    • Value Estimation by Request
      1,800 SF

      4511 Western St

      OFFICE BUILDING • 1,800 SF
      4511 Western St, Amarillo, TX 79109-6022
      View Details
    • Value Estimation by Request
      1,512 SF

      2801 Westhaven Cir

      OFFICE BUILDING • 1,512 SF
      2801 Westhaven Cir, Amarillo, TX 79109-3304
      View Details
    • Value Estimation
      $21,195,000
      112,005 SF

      5800 Bell St

      OFFICE BUILDING • 112,005 SF
      5800 Bell St, Amarillo, TX 79109-6230
      View Details
    • Value Estimation by Request
      1,425 SF

      3100 Georgia St

      OFFICE BUILDING • 1,425 SF
      3100 Georgia St, Amarillo, TX 79109-3441
      View Details
    • Value Estimation
      $1,180,000
      6,040 SF

      2915 Interstate 40

      OFFICE BUILDING • 6,040 SF
      2915 Interstate 40, Amarillo, TX 79109-1607
      View Details
    • Value Estimation
      $535,000
      3,044 SF

      6208 Cyn Dr

      OFFICE BUILDING • 3,044 SF
      6208 Cyn Dr, Amarillo, TX 79109-6730
      View Details

    Similar Nearby for Sale

    • $395,000

      Freestanding Office Building For Sale

      Freestanding office building near I-40 and S. Georgia St.
      2620 S Kentucky St, Amarillo, TX 79109
      View Details
    • $5,500,000
      67,285 SF

      5120 Cyn Expy

      Bowling alleys • 67,285 SF
      5120 Cyn Expy, Amarillo, TX 79109
      View Details
    • $460,000

      Spacious Office Space with I-27 Frontage

      End-cap office space featuring executive offices, secure rooms, and generator.
      5500 Bluebird St, Amarillo, TX 79109
      View Details
    • $365,000

      Commercial Building with Warehouse Space

      Large commercial building with warehouse space and office areas.
      6325 Star Ln, Amarillo, TX 79109
      View Details
    • $460,000
      4,000 SF

      Amarillo Office Condo for Sale

      Prime I-27 location, 4,000 sq ft.
      5500 Bluebird St, Amarillo, TX 79109
      View Details
    • $749,000
      32,000 SF

      Amarillo Commercial Gem

      32,000 SF Mixed-Use Building
      2711 Stanley St, Amarillo, TX 79109
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      116,963 SF

      Amarillo Executive Office Space

      High-rise office building, prime location.
      2201 Civic Cir, Amarillo, TX 79109
      View Details
    • $12 SF/Yr
      14,499 SF

      Amarillo Retail/Office Space

      Prime Amarillo location, multiple suites available.
      2600 Paramount Blvd, Amarillo, TX 79109
      View Details
    • $1,500 /Mo

      Professional Office Space Available Now

      Versatile office space with private offices, reception, and breakroom.
      2920 Duniven Cir, Amarillo, TX 79109
      View Details
    • $2,300 /Mo

      Modern Office Space For Rent

      Modern office space available for lease in Amarillo, Texas.
      3100 S Georgia St, Amarillo, TX 79109
      View Details
    • $15 SF/Yr

      Versatile Commercial Unit in Amarillo

      Adaptable commercial space suitable for office, retail, or specialty use.
      3708 Olsen Blvd, Amarillo, TX 79109
      View Details
    • $10 SF/Yr
      30,880 SF

      Lakeview Drive Creative Office Space

      Amarillo, TX Creative Office Suites Available
      2400 Lakeview Dr, Amarillo, TX 79109
      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.
    28 Western Plz Dr
    Amarillo, TX 79109-1569
    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.
    Sign Up Successful!
    You now have access to more from Realmo!