101 11Th AveAmarillo, TX 79101

Property Details for 101 11Th Ave

Year built

1926

Lot size

0.22 AC

Property size (Sq ft)

29,400 SF

Zone code

CB

Property type

Office buildings

APN

R-065-1000-2720

APU

R06510002720

Description

This four-story, 31,383-square-foot Class B office building in Amarillo, Texas, presents a compelling value-add investment opportunity. Located at 101 SE 11th Ave, in Potter County, zip code 79101, this multi-tenant property boasts a prime downtown location within an Opportunity Zone, offering significant tax advantages. Built in 1926 and renovated in 2000, the building currently has 19.93% occupancy, with approximately 25,130 square feet of vacant space available for lease. The asking price is $4,500,000, translating to $143.39 per square foot. Currently, the owner occupies 4,262 square feet, and a law firm occupies an additional 1,991 square feet. The property's strategic location offers easy access to Interstates 27 and 40, enhancing its appeal to potential tenants. An adjacent 0.95-acre parcel is also available for development or sale, further increasing the investment potential. This property offers investors the chance to capitalize on Amarillo's growing commercial real estate market by leasing up the significant vacant space and potentially developing the adjacent land. The vibrant downtown Amarillo business district provides numerous amenities, making it an attractive location for businesses and employees.

• CAP approach

  CAP return

  Valuation

  6%

  $4,020,205

  6.5%

  $3,710,958

  7%

  $3,445,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,562,827

  Geo Method

  $3,537,408

• Alternative Use

  Use

  Valuation

  Residential

  $4,601,588

  Hospitality

  $4,215,030

  Educational

  $3,506,856

  Medical

  $3,627,462

  Retail

  $5,455,109

Location Insight

City

Amarillo

County

Potter

State

Texas

Latitude

35.2027

Longitude

-101.838

CBSA code

11100

CBSA name

AMARILLO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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