Multi-Tenant NNN Flex
For Sale
$2,230,000
21118 Wade Road, Springdale, AR 72764
CommercialSale, Springdale, AR
Property Size11,998 SF
Lot Size3.48 Acres
Price / SF$185.86
Days on Market78
Property Features for 21118 Wade Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Head east on Highway 412 for 6.5 miles from Butterfield Coach Road. Turn right onto Wade Road and then turn left into the parking lot after 400 feet as the building is on the south side of Highway 412.
Standard status
Active
APN
001-18273-008
Size
11,998 SF
Lot size
3.48 Acres
Taxes and HOA fees
Tax Description
PT SE SW & PT SW SE 3.48 AC FURTHER DESCRIBED IN 2021-45680 AS: A PART OF THE SE/4 OF THE SW/4 AND PART OF THE SW/4 OF THE SE/4 OF SECTION THlRTY-TWO (32), TOWNSHIP EIGHTEEN (18) NORTH, RANGE TWENTY-EIGHT (28) WEST OF THE FIFTH PRINCIPAL MERIDIAN, WASHIN
Legal Description
PT SE SW & PT SW SE 3.48 AC FURTHER DESCRIBED IN 2021-45680 AS: A PART OF THE SE/4 OF THE SW/4 AND PART OF THE SW/4 OF THE SE/4 OF SECTION THlRTY-TWO (32), TOWNSHIP EIGHTEEN (18) NORTH, RANGE TWENTY-EIGHT (28) WEST OF THE FIFTH PRINCIPAL MERIDIAN, WASHIN
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Electric (Heating), Propane (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
2023
Floors in Building
1
Number of units
11
Flooring type
Concrete
Roof type
Metal
Listing Agency:
Black Diamond Mergers & Acquisitions, LLC
(479) 365-4307
Listed By:
Lane Auth · License #SA00091806
(479) 304-1035
Added: Jul 20
Changed: Sep 3
Last Checked: Oct 5 at 2:06PM
MLS# 1355370
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.
Completed in 2023, this 11,998-square-foot flex center occupies 3.48 acres and is configured for multiple occupants. The property is 91.3% leased, with 9 tenants in place and two vacant units. Each occupied suite is subject to an NNN lease structure, limiting routine landlord obligations. Concrete flooring, electric heating and cooling, propane service, a metal roof, public water, and a septic tank support the existing improvements.
The property fronts Highway 412 in Springdale, Arkansas, where approximately 19,000 vehicles pass daily. Its multi-suite format combines current occupancy with available space within the existing center. The site’s highway exposure and established tenant base provide clear operating context for evaluating the flex-space asset.
The property fronts Highway 412 in Springdale, Arkansas, where approximately 19,000 vehicles pass daily. Its multi-suite format combines current occupancy with available space within the existing center. The site’s highway exposure and established tenant base provide clear operating context for evaluating the flex-space asset.
Key Highlights
- 11,998 square feet on 3.48 acres
- 91.3% leased with 9 tenants and two vacant units
- All occupied suites operate under NNN leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,467
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,340
$1.5M
Cap Rate 7%
$1,049,529
$1.0M
Cap Rate 9%
$816,300
$816.3K
Market Conditions
NOI Build-Up for 11,998 SF
Gross rent
$96.5K $8.04/SF
− Vacancy
−$10.0K −$0.84/SF
EGI
$86.4K $7.20/SF
− OpEx
−$13.0K −$1.08/SF
NOI
$73.5K $6.12/SF
Area
Washington County, AR
Vacancy
10.40%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,469,340
Cap Rate 7%
$1,049,529
Cap Rate 9%
$816,300
Alternative Uses
Best Use
Warehouse
$1.05M
$918.3K – $1.22M
NOI $73,467 @ 7.0% cap · market cap 3.29%
Second Best
Industrial
$1.00M
$876.8K – $1.17M
NOI $70,145 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,432 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
91.3%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72764, AR
60,786
Population
20,781
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
72%
High-School Grad
66.2 sq mi
ZIP Area
918
Density / Sq Mi
$61,569
Median Household Income
$34,552
Median Earnings
$984
Median Rent
$226,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Recently built flex center with NNN leases, concrete flooring, and a mix of occupied and vacant units.
Where is this flex space located?
The property is located at 21118 Wade Road Springdale, AR.
What is the asking price?
The asking price for this property is $2,230,000.
What are key features of this property?
This property features: 11,998 square feet on 3.48 acres; 91.3% leased with 9 tenants and two vacant units; All occupied suites operate under NNN leases
