Fully Fenced 12-Unit Apartment
For Sale
$1,200,000
300 N Clinic Street, Searcy, AR 72143
MULTI_FAMILY - Searcy, AR
Property Size11,178 SF
Lot Size0.55 Acres
Price / SF$107.35
Days on Market239
Property Features for 300 N Clinic Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Exterior features
Fully Fenced
Fencing
Full
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Watkins & Quarles
Lot features
Level
Directions
Take exit 42 toward US-67B N/Searcy. Turn left onto Highway 367 S toward US-67B N/Searcy/S Main St. Turn right onto E Race Ave. Turn left onto N Clinic St. Apartments will be on the right.
Standard status
Active
Size
11,178 SF
Lot size
0.55 Acres
Taxes and HOA fees
Tax Description
Block 4 Watkins& Quarles Add
Tax Annual Amount
3617
Legal Description
Block 4 Watkins& Quarles Add
Building Details
Year built
1967
Floors in Building
2
Number of units
12
Flooring type
Vinyl, Laminate
Roof type
Composition
Architectural style
Other
Listing Agency:
RGB Appraisals & Realty
(501) 843-2003
Listed By:
Katrina Yarboro
(501) 554-0274
Added: Dec 16, 2025
Changed: Aug 3
Last Checked: Aug 12 at 2:06PM
MLS# 25049130
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.
Apartment buildings: a 12-unit apartment complex built in 1967 on a 0.55-acre lot, with a total property size of 11,178 SF. The property includes 2BR/1BA units, and all units are currently occupied. Exterior features include fully fenced grounds.
Recent improvements include a new roof, all new thermal windows, and solid surface counter tops. Updates are distributed across the unit mix, with 7 units having new HVAC systems and 8 units updated. Flooring includes vinyl and laminate, and appliances include free-standing stoves. The roof is listed as composition.
For a tenant or operator evaluating consistency and day-to-day livability, the combination of fully fenced site, occupied status, and documented unit improvements may support a straightforward leasing experience.
Recent improvements include a new roof, all new thermal windows, and solid surface counter tops. Updates are distributed across the unit mix, with 7 units having new HVAC systems and 8 units updated. Flooring includes vinyl and laminate, and appliances include free-standing stoves. The roof is listed as composition.
For a tenant or operator evaluating consistency and day-to-day livability, the combination of fully fenced site, occupied status, and documented unit improvements may support a straightforward leasing experience.
Key Highlights
- 12‑unit apartment complex with all units currently occupied
- 2BR/1BA unit mix
- Fully fenced site
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
$60,377
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
5.03%
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%
$1,207,540
$1.2M
Cap Rate 7%
$862,529
$862.5K
Cap Rate 9%
$670,856
$670.9K
Market Conditions
NOI Build-Up for 11,178 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
$118.0K $10.56/SF
− Vacancy
−$8.3K −$0.74/SF
EGI
$109.8K $9.82/SF
− OpEx
−$49.4K −$4.42/SF
NOI
$60.4K $5.40/SF
Area
White County, AR
Vacancy
7.00%
Lease Rate
$10.56 /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%
$1,207,540
Cap Rate 7%
$862,529
Cap Rate 9%
$670,856
Alternative Uses
Best Use
Apartment 5plus
$862.5K
$754.7K – $1.01M
NOI $60,377 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $143,096 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,134
Businesses Nearby
Explore this area
Business Placement
Demographics for 72143, AR
35,111
Population
14,948
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
302.1 sq mi
ZIP Area
116
Density / Sq Mi
$55,522
Median Household Income
$33,315
Median Earnings
$851
Median Rent
$176,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 12 occupied 2BR/1BA apartments with recent exterior and unit upgrades including a new roof and thermal windows.
Where is this apartment building located?
The property is located at 300 N Clinic Street Searcy, AR.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 12‑unit apartment complex with all units currently occupied; 2BR/1BA unit mix; Fully fenced site
