3629 Wolflin AveAmarillo, TX 79102

Property Details for 3629 Wolflin Ave

Year built

2009

Lot size

1.00 AC

Property size (Sq ft)

5,330 SF

Zone code

PD

Property type

Healthcare properties

Property subtype

Medical offices

APN

R-022-1350-2010

APU

R02213502010

Description

This exceptional Class A, 5,330 square foot medical office building in Amarillo, Texas presents a compelling investment opportunity. Currently 100% occupied by Ideal Dental, part of the 150+ location DECA Dental Group, the property boasts a strong, long-term net lease (NNN) with a remaining term of 5.5 years and a 5-year option. The tenant recently executed an early renewal with a rent increase, demonstrating their commitment to the location. The building, constructed in 2009, sits on a 43,560 square foot lot with excellent visibility on Hwy I-40, experiencing over 75,000 vehicles per day. The asking price is $1,637,964, representing a compelling $307 per square foot and a 7.25% cap rate, with a current NOI of $118,752. This investment is ideal for those seeking a passive income stream, particularly attractive for 1031 exchanges. The property benefits from the tenant's significant investment and the growing demand for healthcare real estate, offering resilience against economic fluctuations. Ideal Dental provides comprehensive dental services, operating six days a week, ensuring a strong and consistent revenue stream. Amarillo's position as a regional healthcare hub further enhances the property's long-term value. The property's location, tenant strength, and lease terms combine to create a secure and profitable investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $728,833

  6.5%

  $672,769

  7%

  $624,714

• Comparable approach

  Method

  Valuation

  Relative Method

  $464,621

  Geo Method

  $641,306

• Alternative Use

  Use

  Valuation

  Residential

  $834,234

  Hospitality

  $764,154

  Educational

  $635,767

  Medical

  $657,632

  Retail

  $988,970

Location Insight

City

Amarillo

County

Potter

State

Texas

Latitude

35.1923

Longitude

-101.878

CBSA code

11100

CBSA name

AMARILLO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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