For Sale
$900,000

6636 Canyon DrAmarillo, TX 79109

Multi-tenant warehouse, 5.39% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional Amarillo, Texas investment opportunity presents a stabilized, multi-tenant warehouse complex totaling 17,700 net rentable square feet. The property, situated on a 2.25-acre lot at 6636 Canyon Drive, boasts a prime location with easy access to I-27, featuring 130 feet of frontage and two entries off Canyon Drive. The complex comprises three buildings constructed in 1963, 1964, and 2020, offering a mix of established and newer structures. Currently 100% occupied by three tenants under a modified lease with a remaining term of approximately 1.7 years (expiring July 31, 2026, with lease commencement August 1, 2023), generating a strong net operating income (NOI) of $48,536 and a 5.39% capitalization rate. Key features include a loading dock, one dock-high door, a newer six-bay shop with 15 feet of surrounding concrete, a newer electric gate, a security system, a steel fence, and updated office space with central heating and air conditioning. A nearby lavatory complements the office. Significant advertising potential is offered by a double-sided digital 10x20 billboard and a lighted 10x20 billboard. The property also benefits from separate electric meters for each tenant and ample yard space. The property is classified as Class C industrial and is offered at an asking price of $900,000. The property is not subject to a ground lease. APN: 213170.

Highlights

  • 17,700 SF multi-tenant warehouse complex on a 2.25-acre lot in Amarillo, TX, with excellent I-27 access.
  • Prime location with 130' of frontage and dual Canyon Drive entries.
  • Three buildings (1963, 1964, 2020) with a mix of newer and established structures.
  • 100% occupied with a modified lease expiring July 31, 2026, generating $48,536 NOI and a 5.39% cap rate.
  • Features include loading dock, dock-high door, six-bay shop, electric gate, security system, fenced yard, updated office space with HVAC, and separate electric meters for each tenant.

Property Details for 6636 Canyon Dr

Property type
Warehouses, Industrial properties
Class
C
Buildings
3
Stories
1
Lot Size (sq. ft)
98,010 SF

Location Insight

City
Amarillo
County
Randall
State
Texas
Latitude
35.1376421
Longitude
-101.8963134
6636 Canyon Dr, Amarillo, Texas

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6636 Canyon Dr
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