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    Property profile & analytics

    7040 Mccormick Rd Amarillo, TX 79118-1009

    • Retail space
    • 8,960 SF
    • 0.98 lot acres
    OFF-MARKET
    Value Estimations
    $1,255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3669457
    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

    • FedEx OnSite / Postal Service / Courier Service
    • Dollar General / Grocery & Convenience Store
    • Western Union / Bank / Credit Union
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store

    Property Details for 7040 Mccormick Rd

    Year built
    2009
    Lot size
    0.98 lot acres
    Property size
    8,960 SF
    Property type
    Retail space
    APN
    R-073-0441-1100
    APU
    R07304411100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,445,000
      6.5%
      $1,330,000
      7%
      $1,235,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,175,000
      Market price range: $376k - $1.36M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $840,000
      Current use
      OFFICE BUILDING
      $1,380,000
      Change: +64% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,220,000
      Change: +45% Conversion: Easy
      RESTAURANT
      $1,075,000
      Change: +28% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.917
    Latitude
    35.0729
    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
    2018
    $7,532
    $128,066
    $652,940
    $781,006
    -
    $128,066
    $652,940
    $781,006

    Comparable in this City

    • Value Estimation
      $965,000
      10,520 SF

      12460 Georgia St

      RETAIL STORES (PERSONAL SERVICES) • 10,520 SF
      12460 Georgia St, Amarillo, TX 79118-5754
      View Details
    • Value Estimation by Request
      770 SF

      2711 58th Ave

      RETAIL STORES (PERSONAL SERVICES) • 770 SF
      2711 58th Ave, Amarillo, TX 79118-1329
      View Details
    • Value Estimation by Request
      2,606 SF

      10700 3rd Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,606 SF
      10700 3rd Ave, Amarillo, TX 79118
      View Details
    • Value Estimation by Request
      4,480 SF

      1707 Fm 1151

      RETAIL STORES (PERSONAL SERVICES) • 4,480 SF
      1707 Fm 1151, Amarillo, TX 79118-4234
      View Details
    • Value Estimation
      $1,355,000
      8,995 SF

      3510 Osage St

      RETAIL STORES (PERSONAL SERVICES) • 8,995 SF
      3510 Osage St, Amarillo, TX 79118-6763
      View Details
    • Value Estimation by Request
      2,000 SF

      11030 Osage St

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      11030 Osage St, Amarillo, TX 79118-5359
      View Details

    Similar Nearby for Sale

    • $499,000
      924 SF

      Highway Frontage Commercial Opportunity

      5-acre commercial property with highway frontage, redevelopment potential.
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      Prime Land for Retail, Industrial

      Two lots available for retail or industrial use.
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      Industrial Land with Retail Potential

      Industrial-zoned land suitable for retail or warehouse development.
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    • $437,342

      Retail Property on 2.51 Acres

      2.51 acres with existing 3,318 SF building near Amarillo.
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    • $749,000
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      Versatile property with shop, residence, and acreage in Amarillo.
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    Similar Nearby for Lease

    • Contact for pricing
      7,200 SF

      Retail Center Under Construction

      New retail center with high visibility and easy access.
      7200 W Mccormick Rd, Amarillo, TX 79118
      View Details
    • Contact for pricing

      Former Convenience Store on 2.51 Acres

      3,318 SF building on 2.51 acres at Washington & Claude.
      920 Fm 1151, Amarillo, TX 79118
      View Details
    • Contact for pricing

      Retail Center Under Construction

      New retail center at I-27 & McCormick Rd, Amarillo.
      7200 Mccormick Rd, Amarillo, TX 79118
      View Details
    • Contact for pricing

      New Retail Shops For Rent

      Brand-new retail shops with flexible sizes and prime location.
      4086-4088 Beacon Rd, Amarillo, TX 79118
      View Details
    • $2,700 /Mo

      Functional Shop Space in Amarillo

      Versatile shop space with offices and overhead doors for lease.
      9801 S Fm 1541, Amarillo, TX 79118
      View Details
    • Contact for pricing
      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
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    Amarillo, TX 79118-1009
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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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