Gas Station Property with Food Truck
For Sale
$279,900
204 NE 1st Avenue, Gravette, AR 72736
CommercialSale, Gravette, AR
Property Size1,669 SF
Lot Size0.62 Acres
Price / SF$167.71
Days on Market406
Property Features for 204 NE 1st Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Lot features
Central Business District, Corner Lot, City Lot
Directions
From I-49 take Exit 100 West on Hwy 72 to 4 way stop Hwy 72/59 right on Hwy 59 one block on right corner Hwy 59/1st Ave and Akron St
Standard status
Active
APN
11-00234-000
Size
1,669 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Description
12-20-33
Tax Annual Amount
1325
Legal Description
12-20-33
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Equity Partners Realty
(479) 750-9500
Listed By:
Vernon Schmiegelow · License #SA00016685
(479) 640-5219
Added: Aug 11, 2025
Changed: Sep 4
Last Checked: Sep 20 at 5:06AM
MLS# 1317711
Copyright © 2026 ArkansasONE MLS. 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 1,669-square-foot commercial property was originally developed as a convenience store, with fuel tanks since removed and an EPA clearance letter provided by the owner. The building includes concrete flooring, central heating, central air conditioning, and public water service. An ice machine conveys with the property.
Located at 204 NE 1st Avenue in Gravette, Arkansas, the site encompasses 0.62 acres and fronts a road with a reported 2023 traffic count of 9,683 vehicles daily. Behind the building, the layout is approximately 80% complete for food truck parking. Built in 1980, the property offers an existing commercial building with a partially prepared rear-area configuration.
Located at 204 NE 1st Avenue in Gravette, Arkansas, the site encompasses 0.62 acres and fronts a road with a reported 2023 traffic count of 9,683 vehicles daily. Behind the building, the layout is approximately 80% complete for food truck parking. Built in 1980, the property offers an existing commercial building with a partially prepared rear-area configuration.
Key Highlights
- 0.62‑acre site with a 1,669‑square‑foot commercial building
- Originally a convenience store; fuel tanks have been removed
- Owner has an EPA clearance letter for the removed fuel tanks
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
$22,447
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
8.02%
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%
$448,940
$448.9K
Cap Rate 7%
$320,671
$320.7K
Cap Rate 9%
$249,411
$249.4K
Market Conditions
NOI Build-Up for 1,669 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
$32.0K $19.20/SF
− Vacancy
−$2.1K −$1.27/SF
EGI
$29.9K $17.93/SF
− OpEx
−$7.5K −$4.48/SF
NOI
$22.4K $13.45/SF
Area
Benton County, AR
Vacancy
6.60%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$448,940
Cap Rate 7%
$320,671
Cap Rate 9%
$249,411
Alternative Uses
Best Use
Specialty Retail
$320.7K
$280.6K – $374.1K
NOI $22,447 @ 7.0% cap · market cap 8.02%
Second Best
Retail
$271.2K
$237.3K – $316.5K
NOI $18,987 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$458.7K
$401.3K – $535.1K
NOI $32,106 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9,683 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 72736, AR
7,046
Population
2,682
Households
2.6
Avg Household Size
38
Median Age
24%
College-Educated
88%
High-School Grad
98.5 sq mi
ZIP Area
72
Density / Sq Mi
$73,565
Median Household Income
$43,892
Median Earnings
$1,012
Median Rent
$277,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Former convenience store improvements include central HVAC, concrete flooring, and public water service.
Where is this gas station located?
The property is located at 204 NE 1st Avenue Gravette, AR.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 0.62‑acre site with a 1,669‑square‑foot commercial building; Originally a convenience store; fuel tanks have been removed; Owner has an EPA clearance letter for the removed fuel tanks
