Two-Story Office
For Sale
$2,300,000
119 S 2nd Street, Rogers, AR 72756
SINGLE_FAMILY - Rogers, AR
Property Size11,600 SF
Lot Size0.20 Acres
Price / SF$198.28
Days on Market111
Property Features for 119 S 2nd Street
General Information
Property type
Residential
Property subtype
Office
Lot features
Central Business District
Directions
Head toward downtown Rogers via Walnut Street. Turn onto S 2nd Street and continue to 119 S 2nd St; the property will be on your left.
Standard status
Active
APN
02-02225-000
Size
11,600 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
PLAT 3/14/1881 B-128 L10 EXC SE C N 30' ETC PT L11 BEG 69'E SW C ETC
Tax Annual Amount
8721
Legal Description
PLAT 3/14/1881 B-128 L10 EXC SE C N 30' ETC PT L11 BEG 69'E SW C ETC
Building Details
Year built
1987
Listing Agency:
Keller Williams Market Pro Realty - Rogers Branch · Keller Williams Realty
(479) 718-2800
Listed By:
The Duley Group
(479) 616-4663
Added: Apr 24
Changed: Jul 28
Last Checked: Aug 12 at 4:06PM
MLS# 1343793
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 11,600-square-foot office building offers two levels of workspace with large offices arranged throughout the property. Wood finishes add a distinctive interior character, while natural light reaches both floors to create a bright working environment. The building was constructed in 1987 and received a roof replacement in 2025.
The property is located at 119 S 2nd Street in Rogers, within the city’s historic downtown area. An additional lot is included with the property and provides six parking spaces. The combination of expansive office areas, private rooms, and a separate parking lot gives the asset a functional configuration for an established office operation.
The property is located at 119 S 2nd Street in Rogers, within the city’s historic downtown area. An additional lot is included with the property and provides six parking spaces. The combination of expansive office areas, private rooms, and a separate parking lot gives the asset a functional configuration for an established office operation.
Key Highlights
- 11,600 SF two‑story office building
- Large offices distributed across both levels
- Natural light throughout the building
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
$180,006
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
7.83%
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%
$3,600,120
$3.6M
Cap Rate 7%
$2,571,514
$2.6M
Cap Rate 9%
$2,000,067
$2.0M
Market Conditions
NOI Build-Up for 11,600 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
$257.5K $22.20/SF
− Vacancy
−$17.5K −$1.51/SF
EGI
$240.0K $20.69/SF
− OpEx
−$60.0K −$5.17/SF
NOI
$180.0K $15.52/SF
Area
Benton County, AR
Vacancy
6.80%
Lease Rate
$22.20 /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%
$3,600,120
Cap Rate 7%
$2,571,514
Cap Rate 9%
$2,000,067
Alternative Uses
Best Use
Office B
$2.57M
$2.25M – $3.00M
NOI $180,006 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.19M
$2.79M – $3.72M
NOI $223,143 @ 7.0% cap · market cap 9.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
Explore this area
Business Placement
Demographics for 72756, AR
41,875
Population
17,225
Households
2.4
Avg Household Size
37
Median Age
24%
College-Educated
86%
High-School Grad
129.9 sq mi
ZIP Area
322
Density / Sq Mi
$70,900
Median Household Income
$37,510
Median Earnings
$914
Median Rent
$243,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Large private offices and abundant daylight support flexible workplace layouts.
Where is this office building located?
The property is located at 119 S 2nd Street Rogers, AR.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 11,600 SF two‑story office building; Large offices distributed across both levels; Natural light throughout the building
