401 2Nd AveAmarillo, TX 79101

Property Details for 401 2Nd Ave

Lot size

1.72 AC

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 1.72-acre property, located in Amarillo, Texas, presents a unique redevelopment opportunity. Situated in the northern downtown area, just north of IH-40, this full city block offers prime location advantages. The property benefits from its designation within an Opportunity Zone, 2022 QCT, and the Center City TIRZ (Tax Increment Reinvestment Zone). Its proximity to key landmarks such as the Amarillo Civic Center Complex, the Herring Hotel (planned for redevelopment), and Hodgetown Stadium enhances its appeal. Zoned I-1 Light Industrial with a General Commercial Future Land Use designation, the site is level, free of floodplain issues, and boasts all urban utilities. Existing structures, totaling approximately 68,000 square feet of gross building area (GBA), comprise former industrial buildings (constructed in phases between 1922 and 1963) and more modern dorm-style buildings (1983 and 2005). The asking price is $1,950,000, translating to $26.03 per square foot of land value. Given the high demand in the downtown area, multi-family and hospitality uses are considered most likely for redevelopment. The city's favorable stance towards LIHTC development further strengthens the investment potential. This property represents a compelling investment opportunity for developers seeking a prime location with significant upside. The address is 401 SE 2nd Ave, Amarillo, TX 79101, in Potter County.

Location Insight

City

Amarillo

County

Potter

State

Texas

Latitude

35.2113

Longitude

-101.832

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