Listed by Marcus & Millichap - Manhattan, Marcus & Millichap - Dallas
$5,416,000
Havertys Furniture, Amarillo TX
Details
Property Type Retail
Sub Type Furniture Store
Square Footage 72,227
Cap Rate 7.50%
NOI $406,258
Tenancy Single
Lease Type Absolute NNN
Lease Expiration 08/30/2030
Rent Bumps Yes
Lease Options One, 3-Year Remaining
Price per SqFt $75
Year Built 1995
Acreage 4.790
Investment Type Net Lease
Ground Lease No
Ownership Fee Simple
Absolute Net Lease | 4.79-Acre Signalized Hard Corner | Site Below-Market Rent at $5.62/SF
Marketing description
ALSO AVAILABLE: Havertys at 11091 Pecan Park Blvd, Cedar Park (Austin), TX 78613
30+ Year Operating History | Recently Exercised Option Demonstrating Continued Commitment to the Site
Investment highlights
- The lease is structured on an absolute net basis with no landlord responsibilities, including roof and structure.
- The tenant has exercised its renewal option, extending the lease term with a contractual 6% rent increase commencing September 1, 2027. The store opened in 1996, demonstrating long-term commitment through over 30 years of continuous operation at this location.
- In-place rent is below market for comparable retail space along Soncy Road, a primary commercial corridor in west Amarillo. The rent basis provides flexibility relative to surrounding big-box and junior-anchor tenancy within the corridor.
- The intersection draws traffic from both commuter and retail patterns, with Soncy Road serving as a primary north–south commercial corridor linking Loop 335 and major retail centers.
- The property's roof is under warranty through April 3, 2036, providing coverage for a key structural component and limiting near-term capital requirements.
- The large corner site allows for multiple access points and strong frontage along both roadways. The scale and configuration support large-format retail use and future adaptability within a high-demand area.
- The surrounding area benefits from Amarillo's diverse employment base, including major employers such as Tyson Foods, Bell, Baptist St. Anthony's Health System, and CNS Pantex.
- The property is located within the city's primary retail concentration, surrounded by national tenants including Walmart, Target, Lowe's, Home Depot, and Sam's Club, along with regional draws like Westgate Mall and Shops at Soncy.
- Soncy Road provides immediate access to Loop 335, which links west Amarillo to Interstate 27 and Interstate 40. This network connects residential growth areas, retail corridors, and regional distribution routes.
Listing Contacts
Listed by Marcus & Millichap - Manhattan, Marcus & Millichap - Dallas
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$406,258.00
$33,854.83/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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