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

    517 Polk St Amarillo, TX 79107-5258

    • Office buildings
    • 3,120 SF
    • 0.13 lot acres
    OFF-MARKET
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US83-4050501
    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

    • Höhe Haus / Architect
    • Höhe Design Group / Architect / Architecture Firm

    Property Details for 517 Polk St

    Year built
    1963
    Lot size
    0.13 lot acres
    Property size
    3,120 SF
    Zone code
    I1
    Property type
    Office buildings
    APN
    R-031-0500-7865
    APU
    R03105007865

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $330,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $434,000
      Market price range: $435k - $1.25M

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.835
    Latitude
    35.2189
    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
    $1,916
    $11,326
    $103,026
    $114,352
    -
    $11,326
    $103,026
    $114,352

    Comparable in this City

    • Value Estimation
      $305,000
      1,960 SF

      5303 Amarillo Blvd

      OFFICE BUILDING • 1,960 SF
      5303 Amarillo Blvd, Amarillo, TX 79107-7667
      View Details
    • Value Estimation
      $305,000
      682 SF

      402 Buchanan St

      OFFICE BUILDING • 682 SF
      402 Buchanan St, Amarillo, TX 79107-5320
      View Details
    • Value Estimation
      $285,000
      192 SF

      601 Fillmore St

      OFFICE BUILDING • 192 SF
      601 Fillmore St, Amarillo, TX 79107-5263
      View Details
    • Value Estimation
      $275,000
      612 SF

      814 Highland St

      OFFICE BUILDING • 612 SF
      814 Highland St, Amarillo, TX 79107-7084
      View Details
    • Value Estimation
      $320,000
      744 SF

      400 Polk St

      OFFICE BUILDING • 744 SF
      400 Polk St, Amarillo, TX 79107-5232
      View Details
    • Value Estimation
      $840,000
      952 SF

      4714 24th Ave

      OFFICE BUILDING • 952 SF
      4714 24th Ave, Amarillo, TX 79107-5802
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,226 SF

      Downtown Amarillo City Block

      Located on a major city block with high traffic.
      904 S Fillmore St, Amarillo, TX 79107
      View Details
    • Contact for pricing
      7,856 SF

      Downtown Amarillo City Block

      Three buildings totaling 19,695 SF on a major city block.
      905 S Taylor St, Amarillo, TX 79107
      View Details
    • Contact for pricing
      8,613 SF

      Downtown Amarillo City Block

      Full city block with high traffic and great visibility.
      900 S Fillmore St, Amarillo, TX 79107
      View Details
    • $2,200,000
      50,637 SF

      50,637 SF Office Building

      Office building with presentation room, conference rooms, and courtyard.
      1501 S Polk St, Amarillo, TX 79107
      View Details
    • $1,135,000

      Versatile Commercial Space in Amarillo

      Prime commercial property with updated offices and multiple amenities.
      512 NE 2Nd Ave, Amarillo, TX 79107
      View Details
    • $239,000
      3,440 SF

      Amarillo Industrial Warehouse For Sale

      Spacious Warehouse, Excellent Location, $239,000
      511 Fillmore St, Amarillo, TX 79107
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr
      1,887 SF

      Amarillo Blvd East Commercial Space

      High-traffic corner lot, versatile space.
      1606 Amarillo Blvd, Amarillo, TX 79107
      View Details
    • $19 SF/Yr
      4,712 SF

      Historic Amarillo Skyscraper Office Space

      Iconic building with modern amenities and a collaborative environment.
      301 S Polk St, Amarillo, TX 79107
      View Details
    • $5,000 /Mo
      29,498 SF

      Warehouse & Office in Opportunity Zone

      Warehouse and office space in Amarillo's Opportunity Zone.
      803 S Garfield St, Amarillo, TX 79107
      View Details
    • $4 SF/Yr

      Warehouse with Updated Office Space

      Versatile warehouse space with offices, dock doors, and fenced yard.
      512 NE 2Nd Ave, Amarillo, TX 79107
      View Details
    • $12 SF/Yr
      104,000 SF

      Amarillo Office Space Available

      Prime Amarillo location, flexible suites.
      1815 Amarillo Blvd, Amarillo, TX 79107
      View Details
    • $1,500 /Mo

      New Retail Space For Lease

      Brand new retail spaces available for lease in Amarillo, TX.
      5808 E Amarillo Blvd, Amarillo, TX 79107
      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.
    517 Polk St
    Amarillo, TX 79107-5258
    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.