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

    Farmers Ave Amarillo, TX 79118

    • Warehouses
    • 26,130 SF
    • 39.41 lot acres
    OFF-MARKET
    Last Sale
    Jan 24, 2022
    Value Estimations
    $830,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US82-8579764
    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 Farmers Ave

    Year built
    1993
    Lot size
    39.41 lot acres
    Property size
    26,130 SF
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    R-200-1740-4800
    APU
    R20017404800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $635,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,025,000
      Market price range: $805k - $2.24M

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

    Location Insight

    • Map
    • Local Demand
    City
    Amarillo
    County
    Randall
    State
    Texas
    Longitude
    -101.839
    Latitude
    35.1366
    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
    $7,105
    $157,600
    $840,262
    $997,862
    -
    $157,600
    $840,262
    $997,862

    Comparable in this City

    • Value Estimation
      $1,880,000
      20,940 SF

      1500 34th Ave

      MINI-WAREHOUSE, STORAGE • 20,940 SF
      1500 34th Ave, Amarillo, TX 79118-7777
      View Details
    • Value Estimation
      $860,000
      17,440 SF

      1500 34th Ave

      MINI-WAREHOUSE, STORAGE • 17,440 SF
      1500 34th Ave, Amarillo, TX 79118-7777
      View Details
    • Value Estimation by Request
      2,100 SF

      3216 Fm 1151

      MINI-WAREHOUSE, STORAGE • 2,100 SF
      3216 Fm 1151, Amarillo, TX 79118-4308
      View Details
    • Value Estimation
      $505,000
      13,950 SF

      1212 Sundown Ln

      MINI-WAREHOUSE, STORAGE • 13,950 SF
      1212 Sundown Ln, Amarillo, TX 79118
      View Details
    • Value Estimation by Request
      3,528 SF

      7900 Osage St

      MINI-WAREHOUSE, STORAGE • 3,528 SF
      7900 Osage St, Amarillo, TX 79118-6322
      View Details
    • Value Estimation by Request
      6,000 SF

      6811 Mack Rd

      MINI-WAREHOUSE, STORAGE • 6,000 SF
      6811 Mack Rd, Amarillo, TX 79118-4028
      View Details

    Similar Nearby for Sale

    • $3,900,000

      Amarillo Industrial Facility with Rail Access

      Dry storage warehouses with BNSF railway access and office/warehouse.
      1730 Hollywood Rd, Amarillo, TX 79118
      View Details
    • $749,000
      2,280 SF

      Amarillo Commercial Property with Residence

      Versatile property with shop, residence, and acreage in Amarillo.
      2501 Trammel Ave, Amarillo, TX 79118
      View Details
    • $3,900,000
      215,000 SF

      Loop 335 Industrial Warehouse

      Amarillo, TX Distribution Center - Vacant
      1730 Loop, Amarillo, TX 79118
      View Details
    • $295,000
      3,500 SF

      Amarillo Shop on Tanglewood Road

      3,500 SF shop with 16-foot clear height and insulated.
      12351 Tanglewood Rd, Amarillo, TX 79118
      View Details
    • $920,000
      11.74 Acres

      Amarillo Grain Facility: Prime Location

      11.74-acre industrial property, BNSF rail access.
      203 46Th Ave, Amarillo, TX 79118
      View Details
    • $640,000
      3.59 Acres

      Amarillo Grain Facility: Prime Location

      1M+ Bushel Grain Facility, Vacant, 3.59 Acres
      11101 3Rd Ave, Amarillo, TX 79118
      View Details

    Similar Nearby for Lease

    • $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
    • $6,500 /Mo

      Amarillo Warehouse on FM 1541

      11,840 SF warehouse for lease in southeast Amarillo.
      6400 S Washington St, Amarillo, TX 79118
      View Details
    • New
      $2,950 /Mo

      Functional Shop Space in Amarillo

      Versatile shop space with offices, ideal for commercial uses.
      9801 S Fm 1541, 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
    • $600 /Mo
      2,400 SF

      New Flex Space For Rent

      Brand-new flex and industrial spaces with modern amenities and prime location.
      4088 Beacon Rd, Amarillo, 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.
    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.