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    3629 Wolflin Ave Amarillo, TX 79102-2119
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    Property profile & analytics

    3629 Wolflin Ave, Amarillo, TX 79102-2119

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    • Medical Office Space
    • 5,330 SF
    • 1.00 lot acres
    Off-Market
    Last Sale Dec 20, 2024
    Property ID
    US82-3528375
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Ideal Dental Amarillo / Dental Office
    • Jay Rigby / Dental Office
    • Jay Brandon Rigby / Dental Office

    Property Details for 3629 Wolflin Ave

    Year built
    2009
    Lot size
    1.00 lot acres
    Zone code
    PD
    Property type
    Medical Office Space
    Property subtype
    Medical space
    APN
    R-022-1350-2010
    APU
    R02213502010

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 20, 2024 — Sawyer Investments LLC Ciso Investments LLC Special Warranty Deed $860k · Woodtrust Bank NA
    Jan 28, 2015 — Ciso Investments LLC Swaydental Management Co PC Warranty Deed · related —
    Oct 11, 2013 — Jp Morgan Chase Bk Booth Linda Trustees Deed · related —
    Nov 23, 2009 — Chenoa Tx LLC Chenoa Properties LLC Quit Claim Deed $557k · Texas Panhandle Regional Dev

    Description

    This exceptional Class A, 5,330 square foot medical office building in Amarillo, Texas presents a compelling investment opportunity. Currently 100% occupied by Ideal Dental, part of the 150+ location DECA Dental Group, the property boasts a strong, long-term net lease (NNN) with a remaining term of 5.5 years and a 5-year option. The tenant recently executed an early renewal with a rent increase, demonstrating their commitment to the location. The building, constructed in 2009, sits on a 43,560 square foot lot with excellent visibility on Hwy I-40, experiencing over 75,000 vehicles per day. The asking price is $1,637,964, representing a compelling $307 per square foot and a 7.25% cap rate, with a current NOI of $118,752. This investment is ideal for those seeking a passive income stream, particularly attractive for 1031 exchanges. The property benefits from the tenant's significant investment and the growing demand for healthcare real estate, offering resilience against economic fluctuations. Ideal Dental provides comprehensive dental services, operating six days a week, ensuring a strong and consistent revenue stream. Amarillo's position as a regional healthcare hub further enhances the property's long-term value. The property's location, tenant strength, and lease terms combine to create a secure and profitable investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.878
    Latitude
    35.1923
    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
    $24,610
    $260,310
    $1,105,355
    $1,365,665
    -
    $260,310
    $1,105,355
    $1,365,665

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    3629 Wolflin Ave
    Amarillo, TX 79102-2119
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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.

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    3629 Wolflin Ave, Amarillo, TX, 79102
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