5512 Gem Lake Rd Amarillo, TX 79106
- Strip malls
- 14,000 SF
Current Use by Public Records
- T-Mobile Authorized Retailer / Cell Phone Store / Cell Phone Accessory Store
- Men's Only Haircuts Gem Lake Road / Barber Shop
- Wingstop / Chicken Wings Restaurant
- Grandpa's Donuts lll / Donut Shop
- Thighstop / Chicken Wings Restaurant
Property Details for 5512 Gem Lake Rd
- Year built
- 2004
- Property size
- 14,000 SF
- Property type
- Strip malls
Description
The Forum at Gem Lake, a Class A retail strip center, presents a unique investment opportunity. This 14,000 square foot property, situated on a 1.82-acre lot at the prominent intersection of Gem Lake and Amarillo Blvd. West in Potter County, boasts a prime location and strong tenant occupancy. Built in 2004 and extensively renovated in 2018, the single-story building features seven suites, with three currently available. These spaces range from 1,800 to 3,731 square feet and are offered at a reduced price. The available spaces can be combined for a total of 7,611 square feet. Current tenants include established businesses such as T-Mobile, Wells Fargo, Men's Only Haircuts, Grandpa's Donuts, and Wing Stop, demonstrating the center's strong draw. The property includes 81 parking spaces and is zoned for general retail use. The Net Net Net (NNN) rent is $18.95 per square foot, with NNN charges of $5.50 per square foot covering CAM, trash, taxes, and insurance. This is an exceptional opportunity to acquire a well-maintained, high-traffic retail property in a thriving area.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Potter
- State
- Texas
- Longitude
- -101.8988763
- Latitude
- 35.2139436
