Shopping Strip

31st Plaza

2901 S Western St, Amarillo, TX 79109

Listing Price: $3,313,000

Cap Rate
8.66%
Gross SF
39,621
Rentable SF
31,621
Price/Gross SF
$83.62
Lot Size
3.11 acres
Year Built
1970

Investment Overview

31st Plaza is a 39,621-square foot, multi-tenant retail center located in a dense retail trade area in Amarillo, Texas. The center is currently 93 percent occupied with a complementary mix of service-oriented businesses, including Animal Lodge, Queen Nails, Rent-A-Center, Austin’s Autos, Cricket Wireless, American Shaman, Toledo Finance, Metro by T-Mobile, Boost Mobile, Sun Loans, Lupita's Grill and others. The majority of the leases are base year or gross with 25 percent of the gross leasable area having triple-net leases, providing significant upside potential in leasing the vacant space and converting leases to triple-net. The subject property consists of five buildings situated on two parcels totaling 3.1 acres.

Investment Highlights

  • 93% Occupied | Complementary Mix of Service-Oriented Businesses
  • 27% of the Gross Leasable Area has National Tenants
  • 25% of the Gross Leasable Area has Triple-Net Leases | Tremendous Upside Potential
  • Prime Location in the City's Major Retail Trade Area | Numerous National and Regional Tenants in the Surrounding Area

Exclusively Listed By

Listing Price: $3,313,000

Cap Rate
8.66%
Gross SF
39,621
Rentable SF
31,621
Price/Gross SF
$83.62
Lot Size
3.11 acres
Year Built
1970

Investment Highlights

  • 93% Occupied | Complementary Mix of Service-Oriented Businesses
  • 27% of the Gross Leasable Area has National Tenants
  • 25% of the Gross Leasable Area has Triple-Net Leases | Tremendous Upside Potential
  • Prime Location in the City's Major Retail Trade Area | Numerous National and Regional Tenants in the Surrounding Area

Investment Overview

31st Plaza is a 39,621-square foot, multi-tenant retail center located in a dense retail trade area in Amarillo, Texas. The center is currently 93 percent occupied with a complementary mix of service-oriented businesses, including Animal Lodge, Queen Nails, Rent-A-Center, Austin’s Autos, Cricket Wireless, American Shaman, Toledo Finance, Metro by T-Mobile, Boost Mobile, Sun Loans, Lupita's Grill and others. The majority of the leases are base year or gross with 25 percent of the gross leasable area having triple-net leases, providing significant upside potential in leasing the vacant space and converting leases to triple-net. The subject property consists of five buildings situated on two parcels totaling 3.1 acres.

Exclusively Listed By

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