120 2Nd AveAmarillo, TX 79101

Property Details for 120 2Nd Ave

Year built

2001

Lot size

0.95 AC

Property size (Sq ft)

630 SF

Zone code

CB

Property type

Specialty properties

APN

R-031-0500-1080

APU

R03105001080

Description

This exceptional industrial property, located in Amarillo, Texas, presents a compelling investment opportunity. Priced at $550,000, this single-tenant, net-leased distribution warehouse boasts 16,110 square feet of space and sits on a 1.06-acre lot. Built in 1946, the building features four dock-high doors, providing efficient loading and unloading capabilities. The warehouse boasts a clear ceiling height of 11.50 feet, and a deck height of 14.75 feet. The property also includes substantial office space, strategically located on both the east and west sides of the building, with the east side featuring a showroom. A significant basement area, accessible via stairway and freight elevator, is not included in the stated square footage, offering additional potential. The property is zoned Industrial 1 (I-1) and benefits from ample outdoor storage space due to its generous lot size. Currently leased until November 30, 2025, this property offers a stable income stream. 2023 property taxes totaled $6,059.60. The convenient location on NE 2nd Street, between Polk and Taylor, in Amarillo's north downtown area, ensures excellent accessibility and visibility. This well-maintained warehouse is ready for immediate occupancy upon lease expiration.

• CAP approach

  CAP return

  Valuation

  6%

  $101,314

  6.5%

  $93,520.40

  7%

  $86,840.40

• Comparable approach

  Method

  Valuation

  Relative Method

  $53,002.40

  Geo Method

  $75,801.60

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $176,166

  Retail / Commercial

  $91,894.20

  Mixed-Use / Specialty

  $92,793.70

  Hospitality / Lodging

  $69,677.30

  Office

  $93,520.40

  Institutional / Educational

  $96,906.50

  Residential Income

  $113,381

  Multifamily

  $129,180

  Automotive / Energy

  $83,062.80

  Parking / Income-Based Land

  $27,451.70

  Restaurant / Food Service

  $50,881.40

  Healthcare / Senior Housing

  $93,899.90

Location Insight

City

Amarillo

County

Potter

State

Texas

Latitude

35.2116

Longitude

-101.837

CBSA code

11100

CBSA name

AMARILLO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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