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    Property profile & analytics

    710 Georgia St Amarillo, TX 79106-8914

    • Retail space
    • 5,000 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    Dec 20, 2024
    Value Estimations
    $325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-3323884
    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

    • 806 Gunsmithing / Gun Shop

    Property Details for 710 Georgia St

    Year built
    1962
    Lot size
    0.30 lot acres
    Property size
    5,000 SF
    Zone code
    LC
    Property type
    Retail space
    APN
    R-069-1000-0586
    APU
    R06910000586

    Description

    This exceptional 5,000-square-foot free-standing retail building presents a unique investment opportunity in the heart of Amarillo, Texas. Located at 710 S Georgia St, 79106, this single-tenant property sits on a generous 13,677-square-foot lot and boasts excellent visibility along Georgia Street, offering unparalleled exposure to both local residents and tourists. Constructed in 1962, the building is zoned LC and is currently entirely vacant, providing a blank canvas for a new business venture. The spacious interior features a large showroom area, perfect for showcasing merchandise, complemented by ample back-of-house storage space to optimize operational efficiency. This additional storage area offers significant versatility, potentially accommodating inventory management needs or allowing for future business expansion. Its proximity to historic Route 66 and the vibrant downtown area ensures high foot traffic and strong brand visibility. This property is an ideal choice for entrepreneurs seeking a well-positioned, established retail space in a thriving Texas city. The property's size and location make it suitable for a wide range of retail businesses. The ample parking available further enhances its appeal to potential tenants and customers. This is a rare opportunity to acquire a prime retail space in a desirable Amarillo location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $460,000
      Market price range: $284k - $1.06M

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Potter
    State
    Texas
    Longitude
    -101.867
    Latitude
    35.2095
    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
    $2,299
    $47,045
    $112,376
    $159,421
    -
    $47,045
    $112,376
    $159,421

    Comparable in this City

    • Value Estimation
      $305,000
      2,940 SF

      3323 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,940 SF
      3323 6th Ave, Amarillo, TX 79106-8744
      View Details
    • Value Estimation
      $300,000
      352 SF

      2206 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 352 SF
      2206 6th Ave, Amarillo, TX 79106-6744
      View Details
    • Value Estimation
      $315,000
      1,370 SF

      2722 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,370 SF
      2722 6th Ave, Amarillo, TX 79106-8952
      View Details
    • Value Estimation
      $285,000
      1,100 SF

      3209 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,100 SF
      3209 6th Ave, Amarillo, TX 79106-8743
      View Details
    • Value Estimation
      $285,000
      1,200 SF

      2723 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,200 SF
      2723 6th Ave, Amarillo, TX 79106-8951
      View Details
    • Value Estimation
      $320,000
      2,450 SF

      2204 6th Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,450 SF
      2204 6th Ave, Amarillo, TX 79106-6744
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
      276,573 SF

      Westgate Mall Retail Spaces Available

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      Retail Space Near Walmart

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    • $1,800 /Mo
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      Warehouse and Retail Space Available

      Versatile warehouse and retail space with high traffic visibility.
      719 S Georgia St, Amarillo, TX 79106
      View Details
    • $12 SF/Yr
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      Retail Space in High-Traffic Area

      Retail space available in a shopping center with tenant finish.
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    • $20 SF/Yr
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      Amarillo Executive Office Space

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      View Details
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    710 Georgia St
    Amarillo, TX 79106-8914
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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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