5-Bay Flex
For Sale
$699,000
Pending
1245 N Center Street, Elkins, AR 72727
COMMERCIAL - Elkins, AR
Property Size4,800 SF
Lot Size2.68 Acres
Days on Market260
Property Features for 1245 N Center Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
Open, Parking Lot
Appliances
ElectricWaterHeater
Lot features
City Lot
Directions
From Fayetteville 9.1 miles East on Hwy. 16 Property will be on the left
Standard status
Pending
APN
745-00421-000
Size
4,800 SF
Lot size
2.68 Acres
Taxes and HOA fees
Tax Description
Pt S/2 NW 2.68 acres
Tax Annual Amount
563
Legal Description
Pt S/2 NW 2.68 acres
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Water source
Public
Building Details
Year built
2024
Flooring type
Concrete
Building materials
MetalSiding
Roof type
Metal
Listing Agency:
Discover Real Estate
(479) 790-8539
Listed By:
David Howard · License #SA00081521
(479) 200-7189
Added: Dec 8, 2025
Changed: Aug 19
Last Checked: Aug 25 at 3:06PM
MLS# 1330224
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 4,800-square-foot flex property was built in 2024 and configured as a five-bay commercial shop. The building includes an open interior, a dedicated office, and a full bathroom, with concrete flooring and metal siding. Public water and sewer serve the property.
Set on 2.68 acres along Hwy 16 in Elkins, the site provides highway frontage and direct access. The entire property is fenced, with standard fencing toward the front and taller security fencing behind the building. An asphalt driveway connects to gravel parking areas at both the front and rear, supporting access for employees, customers, equipment, and larger vehicles.
Set on 2.68 acres along Hwy 16 in Elkins, the site provides highway frontage and direct access. The entire property is fenced, with standard fencing toward the front and taller security fencing behind the building. An asphalt driveway connects to gravel parking areas at both the front and rear, supporting access for employees, customers, equipment, and larger vehicles.
Key Highlights
- 4,800‑square‑foot flex building constructed in 2024
- Five‑bay shop with open interior, dedicated office, and full bathroom
- 2.68‑acre fenced property along Hwy 16 in Elkins
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
$29,392
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
4.20%
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%
$587,840
$587.8K
Cap Rate 7%
$419,886
$419.9K
Cap Rate 9%
$326,578
$326.6K
Market Conditions
NOI Build-Up for 4,800 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
$38.6K $8.04/SF
− Vacancy
−$4.0K −$0.84/SF
EGI
$34.6K $7.20/SF
− OpEx
−$5.2K −$1.08/SF
NOI
$29.4K $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 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%
$587,840
Cap Rate 7%
$419,886
Cap Rate 9%
$326,578
Alternative Uses
Best Use
Warehouse
$419.9K
$367.4K – $489.9K
NOI $29,392 @ 7.0% cap · market cap 4.20%
Second Best
Industrial
$400.9K
$350.8K – $467.7K
NOI $28,063 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,188 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72727, AR
6,434
Population
2,803
Households
2.3
Avg Household Size
39
Median Age
18%
College-Educated
90%
High-School Grad
155.6 sq mi
ZIP Area
41
Density / Sq Mi
$71,705
Median Household Income
$37,373
Median Earnings
$1,063
Median Rent
$191,900
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - Constructed in 2024, the property combines office and bathroom space with secured outdoor storage.
Where is this flex space located?
The property is located at 1245 N Center Street Elkins, AR.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: 4,800‑square‑foot flex building constructed in 2024; Five‑bay shop with open interior, dedicated office, and full bathroom; 2.68‑acre fenced property along Hwy 16 in Elkins
