8400 Interstate 40Amarillo, TX 79124
- Retail properties
- 7,107 SF
Property Details for 8400 Interstate 40
- Year built
- 2001
- Lot size
- 1.48 AC
- Property size (Sq ft)
- 7,107 SF
- Zone code
- LC
- Property type
- Retail properties
- Property subtype
- Turn key restaurants
- APN
- R-005-7540-2005
- APU
- R00575402005
Description
This exceptional investment opportunity presents a 7,279 square foot Chuy's restaurant located at 8400 W Interstate 40 in Amarillo, Texas, Potter County, zip code 79124. The property sits on a 1.48-acre lot and benefits from its prime location on a heavily trafficked Interstate 40 pad site, providing excellent highway exit accessibility. The building, constructed in 2001 and renovated in 2019, is currently 100% occupied under a single-tenant, absolute NNN lease with Chuy's (acquired by Darden Restaurants in 2024). The lease commenced December 1, 2019, and has a remaining term of 5.1 years, expiring December 30, 2029. The lease includes 10% rent bumps every five years. The property offers a strong net operating income (NOI) of $195,800, resulting in a 6.00% cap rate. The asking price is $3,263,335. Amarillo, the largest city in the Texas Panhandle, boasts a population exceeding 200,000, ensuring a robust customer base for this established restaurant. This is a rare opportunity to acquire a well-performing, net-leased property with a strong tenant and significant remaining lease term in a prime location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,482,429
- 6.5%
- $1,368,396
- 7%
- $1,270,654
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,506,752
- Geo Method
- $2,154,888
-
Alternative Use
- Use
- Valuation
- Residential
- $1,154,294
- Hospitality
- $1,057,327
- Educational
- $879,683
- Medical
- $909,937
- Retail
- $1,368,396
Location Insight
- City
- Amarillo
- County
- Potter
- State
- Texas
- Latitude
- 35.188
- Longitude
- -101.934
- CBSA code
- 11100
- CBSA name
- AMARILLO, TX METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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