February 19, 2025 • General
If you’re considering leasing commercial space in Amarillo, Texas, you’ve probably come across Triple Net (NNN) leases. These agreements require tenants to cover not just the base rent but also property taxes, insurance, and maintenance costs—expenses that can significantly impact the total cost of leasing.
On average, NNN lease rates for retail spaces in Amarillo tend to hover around $16.57 per square foot per year, though actual rates vary depending on location, property type, and market demand. Below are some current lease offerings to give you a better idea of what’s available.
Current NNN Lease Opportunities in Amarillo
Coronado Shopping Center
- Base Rent: $12.00 per square foot per year
- NNN Costs: $3.48 per square foot
- Why It Stands Out: Located in a high-traffic retail area, Coronado Shopping Center offers excellent visibility for businesses looking to attract steady foot traffic. The rental rates and NNN fees are fairly competitive, making it a strong option for retailers and service providers.
Martindale Shopping Center
- Base Rent: $12.00 – $18.00 per square foot per year
- NNN Costs: $2.94 per square foot
- Why It Stands Out: With a wide rent range, Martindale Shopping Center provides options for different budgets. Whether you’re a small business looking for an affordable entry point or an established company needing a prime spot, this location offers flexibility.
31st Plaza
- Base Rent: $12.00 per square foot per year
- NNN Costs: $3.15 per square foot
- Why It Stands Out: This plaza is a great choice for both retail and office tenants. With reasonable rent and NNN fees, it provides a cost-effective option for businesses looking to set up shop in a well-maintained location.
Things to Keep in Mind About NNN Leases
- Location Drives Cost – High-demand areas, such as retail corridors and medical districts, typically have higher base rents. Spaces in less central locations may come at a lower cost but could require more marketing effort to attract customers.
- Total Expenses Matter – A lower base rent might seem appealing, but NNN fees can add up quickly. It’s important to calculate the full leasing cost before making a decision.
- Landlords May Negotiate – Depending on the property and market conditions, landlords might offer incentives like tenant improvement (TI) allowances to help with build-outs or adjustments.
Final Thoughts
Leasing commercial property in Amarillo involves more than just comparing rent prices—you need to factor in the additional costs associated with NNN leases. Whether you’re looking at a high-visibility retail center like Coronado, a flexible space at Martindale, or a budget-friendly option like 31st Plaza, working with a local real estate professional can help you make an informed decision.
If you’re exploring NNN lease options in Amarillo, it’s always a good idea to connect with a broker who understands the latest market trends and can help you negotiate the best terms for your business. Contact us today!