4 Medical DrAmarillo, TX 79106

Property Details for 4 Medical Dr

Year built

1978

Lot size

0.48 AC

Property size (Sq ft)

4,797 SF

Zone code

O

Property type

Healthcare properties

Property subtype

Medical offices

APN

R-044-9220-1000

APU

R04492201000

Description

This exceptional Class A, multi-tenant office building at 4 Medical Dr, Amarillo, TX 79106, presents a compelling investment opportunity. Boasting 4,797 square feet across three units, the property enjoys 100% occupancy with all three tenants holding brand new 3-5 year leases, ensuring stable income. The building, constructed in 1978 and situated on a 20,908 square foot lot, features ample parking with 48 spaces. The property's strong financial performance is highlighted by a Net Operating Income (NOI) of $52,000 and an attractive 8.00% cap rate. The building is zoned O-2 (Office District 2) and benefits from its convenient location just off 9th Street, near Amarillo's Medical Center, attracting medically-oriented businesses. The roof was replaced in 2013 with a TPO membrane. This core investment property offers a secure and profitable return, ideal for discerning investors seeking a stable, high-performing asset in a thriving medical district. The asking price is $650,000. All three tenants occupy similarly sized suites.

• CAP approach

  CAP return

  Valuation

  6%

  $680,675

  6.5%

  $628,316

  7%

  $583,436

• Comparable approach

  Method

  Valuation

  Relative Method

  $403,575

  Geo Method

  $577,175

• Alternative Use

  Use

  Valuation

  Residential

  $779,112

  Hospitality

  $713,662

  Educational

  $593,758

  Medical

  $614,179

  Retail

  $923,624

Location Insight

City

Amarillo

County

Potter

State

Texas

Latitude

35.2074

Longitude

-101.896

CBSA code

11100

CBSA name

AMARILLO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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