Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Downtown Conway Office Space Title is generated by Realmo AI

    1023 Main St, Conway, AR

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space in the heart of downtown Conway.

    Type:OFFICE
    Property size:
    9,300 SF
    Lot size:
    2.26 Acres
    Added:
    Sep 6, 2023
    Days on Market:
    979
    Last Refresh:
    Apr 5 at 8:06 pm

    Property Features for 1023 Main St

    General Information

    Standard status
    Active
    Size
    9,300 SF
    Lot size
    2.26 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 1023 Main St Contact us

    We can help!

    Listing Contact
    Jay Salter

    Listing agent Jay Salter

    Listing office Engage Management, LLC

    Listing date Sep 6, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Engage Management, LLC

    HighLights

    • 160 parking spaces available.
    • In the heart of downtown Conway.
    • Easy access to I‑40.
    • Great restaurants and shopping across the street.
    • Within the Conway Data District.
    • Two blocks off Harkrider Street.

    Overview

    Located in downtown Conway, this office space offers convenient access to I-40. The property is situated within the Conway Data District and is two blocks from Harkrider Street. The location provides proximity to restaurants and shopping options across the street. The property includes 160 parking spaces and has a size of 9300 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Regions Bank Bank Lisa Garner - Regions ... Loan Service ATM (Regions Bank) Atm Western Union Bank Traci McCain - Regions ... Financial Advisor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Conway
    County
    Faulkner
    State
    Arkansas
    Longitude
    -92.4386
    Latitude
    35.0899

    Nearby Similar for Lease

    • Contact for pricing

      Conway Office/Warehouse with Storage

      Versatile commercial space near Highway 64 with ample parking.
      1290 Dons Ln, Conway, AR 72032
      View Details
    • $20 SF/Yr

      Office Space with Drive-Through

      Office space with drive-through available for lease.
      3700 Dave Ward Dr, Conway, AR
      View Details
    • $2,975/Mo

      Medical Office Space Available

      Medical office space for rent near Conway Regional Medical Center.
      2425 Dave Ward Dr, Conway, AR
      View Details
    • $12 SF/Yr

      Downtown Retail or Office Space

      Small retail or office space with great visibility and access.
      611 Court St, Conway, AR
      View Details
    • $12 SF/Yr

      Office Space Near Dave Ward

      Office space with private offices and conference rooms for rent.
      505 E Dave Ward Dr, Conway, AR
      View Details
    • $39 SF/Yr

      Retail Space with Highway Access

      Retail space with strong brand presence and highway accessibility.
      1025 S Amity Rd, Conway, AR
      View Details
    • $22 SF/Yr

      Upscale Retail Space in Conway

      Retail space available in upscale lifestyle center in Conway, AR.
      2235 Dave Ward Dr, Conway, AR
      View Details
    • Contact for pricing

      Retail Space in Power Center

      Retail space for lease in Conway, Arkansas power center.
      E Dave Ward Dr, Conway, AR 72032
      View Details
    • $14 SF/Yr

      Visible Office Space on Dave Ward

      Office space with private restrooms and multiple rooms available for rent.
      2915 Dave Ward Dr, Conway, AR
      View Details
    • $7 SF/Yr

      15,298 SF on 1.09 Acres Investment Property/Industrial Building For Sale or Lease - 900 Runway Drive

      Industrial property in Conway, Arkansas with investment opportunity.
      900 Runway Drive, Conway, AR 72032
      View Details
    • $8 SF/Yr

      Office Space Near Dave Ward

      Office space with garage and private restroom near Dave Ward.
      600 S German Lane , Conway, AR
      View Details
    • $4,400/Mo

      Downtown Office Space Available

      Modern office space in a prime downtown location for rent.
      700 Front Street, Conway, AR
      View Details

    FAQs

    What type of property is this?
    Office units - Office space in the heart of downtown Conway.
    Where is this office units located?
    The property is located at 1023 Main St Conway, AR.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: 160 parking spaces available.; In the heart of downtown Conway.; Easy access to I‑40.
    (501) 327-5035 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jay Salter
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1023 Main St, Conway, AR
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!