401 2Nd Ave Amarillo, TX 79101
- Commercial real estate
- 1.72 lot acres
Current Use by Public Records
- Faith City Family Shelter / Homeless Shelter / Addiction Treatment Center
Property Details for 401 2Nd Ave
- Lot size
- 1.72 lot acres
- Property type
- Commercial real estate
Description
This exceptional 1.72-acre property, located in Amarillo, Texas, presents a unique redevelopment opportunity. Situated in the northern downtown area, just north of IH-40, this full city block offers prime location advantages. The property benefits from its designation within an Opportunity Zone, 2022 QCT, and the Center City TIRZ (Tax Increment Reinvestment Zone). Its proximity to key landmarks such as the Amarillo Civic Center Complex, the Herring Hotel (planned for redevelopment), and Hodgetown Stadium enhances its appeal. Zoned I-1 Light Industrial with a General Commercial Future Land Use designation, the site is level, free of floodplain issues, and boasts all urban utilities. Existing structures, totaling approximately 68,000 square feet of gross building area (GBA), comprise former industrial buildings (constructed in phases between 1922 and 1963) and more modern dorm-style buildings (1983 and 2005). The asking price is $1,950,000, translating to $26.03 per square foot of land value. Given the high demand in the downtown area, multi-family and hospitality uses are considered most likely for redevelopment. The city's favorable stance towards LIHTC development further strengthens the investment potential. This property represents a compelling investment opportunity for developers seeking a prime location with significant upside. The address is 401 SE 2nd Ave, Amarillo, TX 79101, in Potter County.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Potter
- State
- Texas
- Longitude
- -101.83202236537
- Latitude
- 35.211249117061
