Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    506 Center St Lonoke, AR 72086

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $220,000

    0.66-acre lot, $220,000. Prime commercial location.

    Property Features for 506 Center St

    General Information

    Property type
    Other commercial real estate
    Lot Size
    28,750 SF

    We can help!

    Listing Contact
    Brook Knox

    Listing Agency: Knox Realty Listing Agent: Brook Knox

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

    Learn more

    Property Insight Report

    Overview

    This exceptional commercial property presents a unique investment opportunity in the thriving town of Lonoke, Arkansas. Located at 506 Center Street, this 0.66-acre lot offers significant potential for a variety of commercial ventures. The property's size provides ample space for development, allowing for flexibility in design and functionality. Its strategic location on Center Street ensures high visibility and accessibility, making it an ideal site for businesses seeking strong foot traffic and convenient access for customers. The address is well-situated within Lonoke, offering proximity to local amenities and a growing community. This is a blank canvas for entrepreneurs and developers looking to establish a presence in a dynamic market. The asking price of $220,000 represents a compelling value for a property of this size and location in Lonoke. Serious inquiries are encouraged to explore the possibilities this exceptional commercial land parcel offers. The property is classified as "Other" in terms of property type, suggesting a wide range of potential uses subject to local zoning regulations. Further due diligence is recommended to determine the suitability for specific commercial projects. Don't miss this chance to acquire a prime piece of commercial real estate in a rapidly developing area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lonoke
    County
    Lonoke
    State
    Arkansas
    Longitude
    -91.90023
    Latitude
    34.78824

    Nearby Similar for Sale

    • New
      $2,500,000
      5,000 SF

      Turnkey Restaurant in Historic Building

      Award-winning restaurant with state-of-the-art equipment and full liquor license.
      105 W Front St, Lonoke, AR 72086
      View Details
    • $299,900
      2,213 SF

      Turnkey Restaurant and Art Studio

      Established restaurant and art studio for sale in Lonoke, Arkansas.
      106 N Center St, Lonoke, AR 72086
      View Details
    • $49,000
      1.60 Acres

      Runway Frontage Lot for Sale

      1.6 acre lot with runway access in Lonoke, Arkansas.
      40 Kitty Hawk Ln, Lonoke, AR 72086
      View Details
    • $275,000
      5,000 SF

      Commercial Retail Building in Lonoke

      Commercial retail building with great exposure and endless possibilities.
      405 N Center St, Lonoke, AR 72086
      View Details
    • $289,900
      1,800 SF

      Lonoke Commercial Building and Land

      Commercial building in Lonoke, ready for retail or restaurant.
      921 N Center St, Lonoke, AR 72086
      View Details
    • $180,000
      2,776 SF

      Lonoke Retail Building and Land

      Retail property with highway frontage in Lonoke, Arkansas.
      501 SW Front St, Lonoke, AR 72086
      View Details
    • $1,250,000
      10,020 SF

      Turnkey Multi-Family Investment Property

      100% occupied, newer construction multi-family property in Lonoke, Arkansas.
      916-934 Dismukes Ave, Lonoke, AR 72086
      View Details
    • $1,417,500
      10,500 SF

      New Family Dollar Storefront

      New construction Family Dollar store with corporate guarantee.
      10585 Ar 89, Lonoke, AR
      View Details
    • $160,000
      1.46 Acres

      1.46 Acre Lonoke County Land

      Prime Lonoke County land, ideal for development. Excellent investment opportunity.
      Fannie Ln, Lonoke, AR 72086
      View Details
    • $51,500
      1.03 Acres

      Lonoke, AR Acre Lot - Prime Development

      1.03-acre lot, ideal for development. Lonoke location.
      J F Blvd, Lonoke, AR 72086
      View Details
    • $52,500
      1.05 Acres

      Lonoke, AR Acreage Investment Opportunity

      1.05-acre lot, prime location. Ideal for development.
      J F Blvd, Lonoke, AR 72086
      View Details
    • $53,500
      1.07 Acres

      Lonoke, AR Acreage Investment Opportunity

      1.07-acre lot, prime location. Ideal for development.
      J F Blvd, Lonoke, AR 72086
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - 0.66-acre lot, $220,000. Prime commercial location.
    Where is this commercial real estate located?
    The property is located at 506 Center St Lonoke, AR.
    What is the asking price?
    The asking price for this property is $220,000.
    Request Owner's contact information
    506 Center St Lonoke, AR 72086
    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.
    506 Center St
    Lonoke, AR 72086
    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
    506 Center St Lonoke, AR 72086
    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

    We can help!
    Listing Contact
    Brook Knox
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!