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

    701 Farmers Ave Amarillo, TX 79118

    • Commercial real estate
    • 6.61 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-2853228
    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

    • U.S. Hydroponics, LP / Food Processing Plant

    Property Details for 701 Farmers Ave

    Year built
    1965
    Lot size
    6.61 lot acres
    Property type
    Commercial real estate
    APN
    217885

    Description

    This exceptional 6.61-acre property in Amarillo, Texas (Randall County, zip code 79118, APN 217885) presents a unique opportunity to acquire a strategically developed hydroponic farm. The 8,755-square-foot facility, built in 1965 and featuring one story, includes ten 39' x 108' greenhouses and two 147' x 240' high tunnels, totaling 80,000 square feet of growing space. The property boasts recently updated infrastructure, including wet walls, efficient exhaust and gable fans, water recirculation technology, and low-energy hardware. Greenhouse 7 is connected to a germination house capable of producing 14,000 plant starts. A fully equipped warehouse with new overhead doors, an updated reception office, and dedicated quality control space complements the facility. Additionally, a converted residence provides an executive conference room and two offices. This Class B, owner-user investment opportunity is priced at $4,500,000 and offers significant potential for year-round production. The farm's design prioritizes sustainability, utilizing minimal resources and organic chemicals. Letters of Intent exist with Affiliated Foods, Sutherlands, and Double D, indicating established distribution channels. This is an ideal investment for expanding agricultural portfolios or establishing a sustainable, high-yield operation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.832735
    Latitude
    35.135323

    Comparable in this City

    • $2,692,008
      4.12 Acres

      Amarillo Commercial Land - $2.6M

      4.12 Acres, Prime Retail Location
      0 Pilgrim Dr, Amarillo, TX 79118
      View Details
    • $2,147,328

      Amarillo Commercial Land - 8.22 Acres

      Prime Amarillo location, high traffic count.
      0 Farmers Ave, Amarillo, TX 79118
      View Details
    • Contact for pricing
      22.04 Acres

      I-40 Amarillo Commercial Land

      Prime Amarillo Land: I-40 & US 287
      12400 Interstate 40 Hwy, Amarillo, TX 79118
      View Details
    • $242,193
      5.56 Acres

      Prime Amarillo Commercial Land

      5.56 Acres, High Visibility
      0 Way, Amarillo, TX 79118
      View Details
    • Contact for pricing
      9.80 Acres

      I-40 Amarillo Commercial Land

      9.8 Acres, High-Traffic Retail Tract
      0 Interstate 40 Hwy, Amarillo, TX 79118
      View Details
    • Contact for pricing

      Prime Amarillo Commercial Land

      62 Acres, Retail/Industrial Potential
      9000 Georgia St, Palisades, TX 79118
      View Details

    Similar Nearby for Sale

    • $2,692,008
      4.12 Acres

      Amarillo Commercial Land - $2.6M

      4.12 Acres, Prime Retail Location
      0 Pilgrim Dr, Amarillo, TX 79118
      View Details
    • $2,147,328

      Amarillo Commercial Land - 8.22 Acres

      Prime Amarillo location, high traffic count.
      0 Farmers Ave, Amarillo, TX 79118
      View Details
    • Contact for pricing
      22.04 Acres

      I-40 Amarillo Commercial Land

      Prime Amarillo Land: I-40 & US 287
      12400 Interstate 40 Hwy, Amarillo, TX 79118
      View Details
    • $242,193
      5.56 Acres

      Prime Amarillo Commercial Land

      5.56 Acres, High Visibility
      0 Way, Amarillo, TX 79118
      View Details
    • Contact for pricing
      9.80 Acres

      I-40 Amarillo Commercial Land

      9.8 Acres, High-Traffic Retail Tract
      0 Interstate 40 Hwy, Amarillo, TX 79118
      View Details
    • Contact for pricing

      Prime Amarillo Commercial Land

      62 Acres, Retail/Industrial Potential
      9000 Georgia St, Palisades, TX 79118
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      40,000 SF

      Amarillo Retail Center Investment

      Prime Amarillo location, strong tenant mix.
      34 34Th Ave, Amarillo, TX 79118
      View Details
    • $10,000 /Mo
      34,596 SF

      Warehouse with Fenced Yard

      Manufacturing or general use warehouse with large, concrete fenced yard.
      9601 S Georgia St, Amarillo, TX 79118
      View Details
    • $1,300 /Mo
      1,500 SF

      New Construction Flex Space Available

      New construction flex space near residential developments, available January 2022.
      4010 Beacon Rd, Amarillo, TX 79118
      View Details
    • Contact for pricing
      12,000 SF

      Beacon Point Flex Space Available

      Amarillo, TX Industrial Flex Space for Lease
      4086-4088 Beacon Rd, Amarillo, TX 79118
      View Details
    • $18 SF/Yr
      4,500 SF

      Retail Center Under Construction

      New retail center with high visibility and easy access.
      7200 W Mccormick Rd, Amarillo, TX 79118
      View Details
    • $18 SF/Yr
      110,520 SF

      McCormick Retail Center Opportunity

      Amarillo retail space: prime location, high visibility
      7200 Mccormick, Palisades, TX 79118
      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.
    701 Farmers Ave
    Amarillo, TX 79118
    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.