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    Property profile & analytics

    511 Fillmore St Amarillo, TX 79107

    • Office buildings
    • 2,240 SF
    • 0.19 lot acres
    For Sale
    View listing
    $239,000
    Value Estimations
    Cap Rate Potential
    7.4%
    Office buildings
    Location Intelligence
    Property ID
    US83-3870938
    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 511 Fillmore St

    Year built
    2006
    Lot size
    0.19 lot acres
    Property size
    2,240 SF
    Zone code
    I1
    Property type
    Office buildings
    APN
    R-031-0500-8900
    APU
    R03105008900

    Description

    This exceptional industrial property, located at 511 N Fillmore St in Amarillo, Texas, presents a fantastic opportunity for businesses seeking a versatile and well-equipped warehouse space. The single-tenant building offers a total of 3,440 square feet, all currently vacant, situated on a generous 8,276 square foot lot. Constructed in 2006, this two-story structure is zoned I1 - Light Industrial within Potter County. The warehouse itself features a sizable shop area, a restroom, and is enhanced with energy-efficient spray foam insulation. Access is convenient via a 16-foot overhead door. Additional features include covered parking, providing protection for vehicles and equipment, and a secure perimeter defined by a solid fence with two gates for controlled access. The upper level boasts a spacious two-story office area, complete with two restrooms and two private offices, ideal for administrative functions or executive suites. This property offers a blend of functional warehouse space and comfortable office accommodations, making it an ideal location for a variety of industrial and distribution businesses. The property's location in Amarillo, Texas, offers easy access to major transportation routes and a thriving local economy. This is a rare opportunity to acquire a well-maintained, ready-to-occupy industrial property in a desirable location. The zip code is 79107.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $455,000
      6.5%
      $420,000
      7%
      $390,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $615,000
      Market price range: $312k - $894k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $490,000
      Current use
      COMMERCIAL (GENERAL)
      $395,000
      Change: -19% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.833
    Latitude
    35.2183
    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
    $5,713
    $16,553
    $285,087
    $301,640
    -
    $16,553
    $285,087
    $301,640

    Comparable in this City

    • Value Estimation
      $260,000
      1,408 SF

      515 Philadelphia St

      OFFICE BUILDING • 1,408 SF
      515 Philadelphia St, Amarillo, TX 79107-5662
      View Details
    • Value Estimation
      $275,000
      1,200 SF

      207 Lincoln St

      OFFICE BUILDING • 1,200 SF
      207 Lincoln St, Amarillo, TX 79107
      View Details
    • Value Estimation
      $275,000
      1,472 SF

      1513 3rd Ave

      OFFICE BUILDING • 1,472 SF
      1513 3rd Ave, Amarillo, TX 79107
      View Details
    • Value Estimation
      $300,000
      735 SF

      900 Hughes St

      OFFICE BUILDING • 735 SF
      900 Hughes St, Amarillo, TX 79107-3322
      View Details
    • Value Estimation
      $360,000
      2,400 SF

      512 Fillmore St

      OFFICE BUILDING • 2,400 SF
      512 Fillmore St, Amarillo, TX 79107
      View Details
    • Value Estimation
      $295,000
      660 SF

      509 Fillmore St

      OFFICE BUILDING • 660 SF
      509 Fillmore St, Amarillo, TX 79107-5264
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Versatile Commercial Space in Amarillo

      Prime commercial property with updated offices and multiple amenities.
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    • Contact for pricing
      0.10 Acres

      Residential Lots in Revitalizing Area

      Residential lots available in Amarillo, Texas, ideal for new construction.
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    Similar Nearby for Lease

    • $12 SF/Yr
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      Amarillo Office Space Available

      Prime Amarillo location, flexible suites.
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    • $4 SF/Yr

      Warehouse with Updated Office Space

      Versatile warehouse space with offices, dock doors, and fenced yard.
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      View Details
    • $5,000 /Mo
      29,498 SF

      Warehouse & Office in Opportunity Zone

      Warehouse and office space in Amarillo's Opportunity Zone.
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      View Details
    • $3 SF/Yr
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      Amarillo Blvd East Commercial Space

      High-traffic corner lot, versatile space.
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    • $19 SF/Yr
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      Historic Amarillo Skyscraper Office Space

      Iconic building with modern amenities and a collaborative environment.
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      11,534 SF

      Industrial Space with Dock Door

      Warehouse space featuring a dock high overhead door for rent.
      511 N Williams St, Amarillo, TX 79107
      View Details
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    511 Fillmore St
    Amarillo, TX 79107
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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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