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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7503 Mccormick Rd Amarillo, TX 79119

    • Warehouses
    • 1,600 SF
    • 2.12 lot acres
    OFF-MARKET
    Last Sale
    Apr 18, 2022
    Value Estimations
    $410,000
    Show details
    Cap Rate Potential
    3%
    Warehouses
    Location Intelligence
    Property ID
    US82-0066819
    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

    • Warehouses

    Property Details for 7503 Mccormick Rd

    Year built
    2022
    Lot size
    2.12 lot acres
    Property size
    1,600 SF
    Property type
    Warehouses
    APN
    303082
    APU
    303082

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $410,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $260,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.921
    Latitude
    35.0723
    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
    $0.00
    $9,540
    $969,486
    $979,026
    -
    $9,540
    $969,486
    $979,026

    Comparable in this City

    • Value Estimation by Request
      19,200 SF

      12177 Fm 2590

      Distribution properties • 19,200 SF
      12177 Fm 2590, Amarillo, TX 79119
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    • Value Estimation
      $455,000
      16,088 SF

      Loop 335th W

      MINI-WAREHOUSE, STORAGE • 16,088 SF
      Loop 335th W, Amarillo, TX 79119
      View Details
    • Value Estimation
      $345,000
      6,000 SF

      13480 Fm 2590

      WAREHOUSE, STORAGE • 6,000 SF
      13480 Fm 2590, Amarillo, TX 79119-2713
      View Details
    • Value Estimation
      $420,000
      4,800 SF

      7910 Mccormick Rd

      WAREHOUSE, STORAGE • 4,800 SF
      7910 Mccormick Rd, Amarillo, TX 79119-7789
      View Details
    • Value Estimation
      $245,000
      4,680 SF

      Ih 27

      WAREHOUSE, STORAGE • 4,680 SF
      Ih 27, Amarillo, TX 79119
      View Details
    • Value Estimation
      $300,000
      8,760 SF

      7601 81st Ave

      WAREHOUSE, STORAGE • 8,760 SF
      7601 81st Ave, Amarillo, TX 79119
      View Details

    Similar Nearby for Sale

    • $999,000
      5,100 SF

      Functional Warehouse Near I-27

      Spacious warehouse with offices, high ceilings, and convenient highway access.
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    • $3,900,000
      8,620 SF

      Amarillo Warehouse Investment

      8,620 SF NNN Lease, 6.12% Cap Rate
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    • $2,600,000
      19,200 SF

      Amarillo Warehouse Shops Investment

      Eight Shops, 19,200 SF, High NOI
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      View Details
    • $170,000
      1.00 Acre

      Amarillo Industrial Land - 1 Acre

      Prime 1-acre industrial lot near I-27.
      0 Soncy & Lonestar Rd, Amarillo, TX 79119
      View Details
    • $1,600,000

      Amarillo Flex Space - $1.6M

      Versatile Amarillo industrial flex space, ideal for multiple tenants.
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    • Contact for pricing
      0.84 Acres

      Amarillo Commercial Land - Prime Location

      High-visibility lot, ready for development.
      0 Of Hillside, Amarillo, TX 79119
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo
      2,400 SF

      Amarillo Warehouse with Overhead Doors

      2400 SF warehouse space with utilities included and two doors.
      8101 S Loop 335 W, Amarillo, TX 79119
      View Details
    • Contact for pricing
      14,400 SF

      Heritage Business Park Warehouses

      Amarillo, TX Industrial Space Available
      8480 81St Ave, Amarillo, TX 79119
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    • $1,300 /Mo
      1,500 SF

      New Construction Affordable Warehouse Space

      New construction warehouse space available for lease in Amarillo, TX.
      7684 SW 81St Ave, Amarillo, TX 79119
      View Details
    • Contact for pricing
      16,000 SF

      Randall County Warehouse Spaces

      Affordable Industrial Units, 1,000-2,500 SF
      7686 81St Ave, Amarillo, TX 79119
      View Details
    • $1,800 /Mo
      1,000 SF

      Versatile Space Near Heritage Hills

      Adaptable space with overhead doors, climate control, and 3-phase electric.
      8529 SW 81St Ave, Amarillo, TX 79119
      View Details
    • $900 /Mo
      1,000 SF

      New Construction Warehouse Spaces Available

      New warehouses with flexible spaces near key transportation routes.
      7701 SW 81St Ave, Amarillo, TX 79119
      View Details
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    7503 Mccormick Rd
    Amarillo, TX 79119
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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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