8400 Interstate 40Amarillo, TX 79124

  • Retail properties
  • 7,107 SF
For Sale
$3,263,335 View listing

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
8400 Interstate 40, Amarillo, Texas

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$20,026
$838,094
$911,906
$1,750,000
-
$838,094
$911,906
$1,750,000

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