5807 45th Ave, Amarillo, TX 79109-5205
- Grocery and convenience stores
- 66,299 SF
- 15.33 lot acres
Current Use by Public Records
- Harbor Freight Tools / (Bike/Boat/Book/etc) Store / Building Supply
- higi / Physician
- i.d. SPOT / (Bike/Boat/Book/etc) Store / Pet Store & Service
- Giovanni's Pizzeria / Restaurant
- Goodwill Industries of Northwest Texas / Discount Store
Property Details for 5807 45th Ave
- Year built
- 1978
- Lot size
- 15.33 lot acres
- Zone code
- PD
- Property type
- Grocery and convenience stores
- APN
- R-022-6000-0500
- APU
- R02260000500
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 29, 2021 | — | Gordon Bell Plaza LP | — | Deed · related | $13.5M · Genworth Life Insurance Company |
| Dec 30, 2020 | — | Gordon Bell Plaza LP | — | Deed · related | $13.1M · Prosperity Bk |
| Mar 13, 2019 | — | Gordon Bell Plaza LP | — | Deed · related | $1.2M · Veritex Cmnty Bk |
| Nov 27, 2018 | — | Amarillo Natl Bk | Gordon Bell Plaza LP | Grant Deed · related | — |
| Oct 31, 2016 | — | Gordon Bell Plaza LP | Wri-aew Lone Star Retail Portf | Grant Deed | $12.6M · Green Bk |
| Jul 25, 2016 | — | Tucorp INC | — | Deed · related | $1.5M · Interbank |
| Mar 25, 2008 | — | Wri-aew Lone Star Retail Portf | Weingarten Realty Investors | Grant Deed | $154.3M · Northwestern Mutual Life Ins |
| Dec 2, 2004 | — | Realty Investors Weingarten | Wri Of Bell Plaza INC | Grant Deed · related | — |
| — | — | Gordon Bell Plaza LP | — | Deed Of Trust · related | $1.2M · Veritex Cmnty Bk |
| — | — | Wri-aew Lone Star Retail Portf | — | Loan Modification · related | $51.4M · Northwestern Mutual Life Ins |
| — | — | Tucorp INC | — | Deed Of Trust · related | $1.5M · Interbank |
| — | — | Gordon Bell Plaza LP | — | Deed Of Trust · related | $13.1M · Prosperity Bk |
Description
This 144,426 square foot shopping center in Potter County, Texas, presents a compelling investment opportunity. The property boasts a prominent location at 5807 SW 45th, benefiting from excellent visibility on Bell and 45th streets. Currently, there are 43 available spaces ranging from 1,380 to 132,956 square feet, with a minimum divisible space of 1,527 square feet and a maximum contiguous space of 8,000 square feet. A significant 11,327 square feet is currently vacant, offering immediate potential for lease income. The center is anchored by a United Grocery store, providing strong draw for customers. The property sits on a substantial 15.33-acre lot. The surrounding area demonstrates strong demographics, with a population of 91,075 within a 3-mile radius and an average household income of $73,418. The triple net (NNN) lease rate is approximately $4.44 per square foot. This retail center offers a unique blend of established tenancy and significant expansion potential, making it an attractive proposition for investors seeking a strong return in a thriving market.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $10,675,000
- 6.5%
- $9,855,000
- 7%
- $9,150,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $7,189,000
Market price range: $2.85M - $7.19M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $8,660,000
- COMMERCIAL (GENERAL)
- $8,635,000
- RESTAURANT
- $7,085,000
- AUTO REPAIR, GARAGE
- $6,255,000
- WAREHOUSE, STORAGE
- $5,400,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Randall
- State
- Texas
- Longitude
- -101.9
- Latitude
- 35.1603
- CBSA code
- 11100
- CBSA name
- AMARILLO, TX METROPOLITAN STATISTICAL AREA
