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

    3121 6th Ave Amarillo, TX 79106-8959

    • Bars
    • 4,200 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Oct 02, 2024
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-4278151
    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

    • Marshall's Tavern / Night Club

    Property Details for 3121 6th Ave

    Year built
    1946
    Lot size
    0.05 lot acres
    Property size
    4,200 SF
    Zone code
    LC
    Property type
    Bars
    Property subtype
    Pubs
    APN
    R-069-1000-1058
    APU
    R06910001058

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $290,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $298,000
      Market price range: $298k - $732k

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.872
    Latitude
    35.211
    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
    $7,670
    $15,275
    $206,671
    $221,946
    -
    $15,275
    $206,671
    $221,946

    Comparable in this City

    • Value Estimation
      $280,000
      1,600 SF

      2309 6th Ave

      BAR, TAVERN • 1,600 SF
      2309 6th Ave, Amarillo, TX 79106-6606
      View Details
    • Value Estimation
      $285,000
      2,110 SF

      3600 Amarillo Blvd

      BAR, TAVERN • 2,110 SF
      3600 Amarillo Blvd, Amarillo, TX 79106-7132
      View Details
    • Value Estimation
      $230,000
      2,576 SF

      3101 6th Ave

      BAR, TAVERN • 2,576 SF
      3101 6th Ave, Amarillo, TX 79106-8959
      View Details
    • Value Estimation
      $300,000
      4,239 SF

      701 Georgia St

      BAR, TAVERN • 4,239 SF
      701 Georgia St, Amarillo, TX 79106-8913
      View Details
    • Value Estimation
      $240,000
      2,828 SF

      4100 Bushland Blvd

      BAR, TAVERN • 2,828 SF
      4100 Bushland Blvd, Amarillo, TX 79106-8567
      View Details
    • Value Estimation
      $270,000
      3,492 SF

      2307 6th Ave

      BAR, TAVERN • 3,492 SF
      2307 6th Ave, Amarillo, TX 79106-6606
      View Details

    Similar Nearby for Sale

    • $2,900,000
      15,036 SF

      Former Retail Building For Sale

      Former Walgreens building available for sale or lease.
      1600 S Western St, Amarillo, TX 79106
      View Details
    • $90,000
      1,137 SF

      Amarillo Retail or Auto Property

      Retail or auto shop property in Amarillo, Texas.
      90 N Carolina St, Amarillo, TX 79106
      View Details
    • $255,000
      1,932 SF

      Medical Area Commercial Building

      Commercial building in established medical area with strong visibility.
      1900 S Coulter St, Amarillo, TX 79106
      View Details
    • $400,000
      2 SF

      Functional Office Space Available

      Office space featuring fireplaces, kitchen, conference area, and reception.
      2700 Amarillo St, Amarillo, TX 79106
      View Details
    • $431,600
      3,320 SF

      Medical Office Building For Sale

      Medical office building with exam rooms and ample parking.
      1911 Port Ln, Amarillo, TX 79106
      View Details
    • $55,000
      0.12 Acres

      Amarillo, TX City Lot

      City lot in gated community near hospitals, shopping, and dining.
      6 Kingsridge Pl, Amarillo, TX 79106
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      55,841 SF

      Avondale Center: Amarillo Office Space

      Amarillo, TX commercial space for lease. Multiple uses available.
      1701-1781 Avondale St, Amarillo, TX 79106
      View Details
    • $14 SF/Yr
      33,192 SF

      Interstate Village Creative Office Spaces

      Bell Street I-40 West Retail/Office
      2300 Bell St, Amarillo, TX 79106
      View Details
    • Contact for pricing
      276,573 SF

      Westgate Mall Retail Spaces Available

      Amarillo, TX Shopping Mall Leases
      7701 I-40, Amarillo, TX 79106
      View Details
    • $1,200 /Mo

      Shop and Office Space

      Commercial space for shop and office use on corner lot.
      2621 W Amarillo Blvd, Amarillo, TX 79106
      View Details
    • $20 SF/Yr
      3,665 SF

      Amarillo Executive Office Space

      Prime I-40 West location, 3,665 sq ft office.
      5501 Enterprise Cir, Amarillo, TX 79106
      View Details
    • Contact for pricing
      34,600 SF

      Olsen Village West Retail Space

      High-traffic retail space available.
      0 Olsen Vlg, Amarillo, TX 79106
      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.
    3121 6th Ave
    Amarillo, TX 79106-8959
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.