Commercial Land With Rental
For Sale
$385,000
1803&1803A Meadowlake, Conway, AR 72032
COMMERCIAL - Conway, AR
Property Size2,325 SF
Lot Size1.55 Acres
Price / SF$165.59
Days on Market41
Property Features for 1803&1803A Meadowlake
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
5
Directions
East End of Meadowlake Rd
Subdivision
CONWAY NORTHWEST
Standard status
Active
Size
2,325 SF
Lot size
1.55 Acres
Taxes and HOA fees
Tax Description
see deed
Tax Annual Amount
2363
Legal Description
see deed
Building Details
Year built
1971
Floors in Building
1
Listing Agency:
Arkansas Real Estate Collective, Conway Branch
(501) 499-2097
Listed By:
Stefanie Schrekenhofer
(501) 428-3120
Added: Jul 11
Changed: Aug 5
Last Checked: Aug 20 at 4:06AM
MLS# 26028068
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial land offering includes 1.55 acres in Conway along with two existing rental properties. The improvements total 2,325 square feet and date to 1971, providing an established component alongside the larger land holding.
The property is located at 1803 and 1803A Meadowlake in Conway, Arkansas, within Faulkner County. The site is presented for potential future multifamily development, including duplexes or an apartment complex, while the existing rentals remain part of the property.
The property is located at 1803 and 1803A Meadowlake in Conway, Arkansas, within Faulkner County. The site is presented for potential future multifamily development, including duplexes or an apartment complex, while the existing rentals remain part of the property.
Key Highlights
- 1.55 acres of commercial land in Conway
- Two existing rental properties included
- 2,325 square feet of improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,977
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$279,540
$279.5K
Cap Rate 7%
$199,671
$199.7K
Cap Rate 9%
$155,300
$155.3K
Market Conditions
NOI Build-Up for 2,325 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.1K $11.64/SF
− Vacancy
−$1.7K −$0.71/SF
EGI
$25.4K $10.93/SF
− OpEx
−$11.4K −$4.92/SF
NOI
$14.0K $6.01/SF
Area
Faulkner County, AR
Vacancy
6.10%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$279,540
Cap Rate 7%
$199,671
Cap Rate 9%
$155,300
Alternative Uses
Best Use
Apartment 5plus
$199.7K
$174.7K – $233.0K
NOI $13,977 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$530.3K
$464.0K – $618.7K
NOI $37,122 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Explore this area
Business Placement
Demographics for 72032, AR
34,316
Population
14,255
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
300
Density / Sq Mi
$61,452
Median Household Income
$36,877
Median Earnings
$976
Median Rent
$183,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Two existing rentals accompany acreage positioned for future multifamily development.
Where is this commercial land located?
The property is located at 1803&1803A Meadowlake Conway, AR.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1.55 acres of commercial land in Conway; Two existing rental properties included; 2,325 square feet of improvements
