Corner Strip
For Sale
$995,000
127 Parkway Drive, Russellville, AR 72801
COMMERCIAL - Russellville, AR
Property Size9,126 SF
Lot Size0.91 Acres
Price / SF$109.03
Days on Market29
Property Features for 127 Parkway Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Corner Lot
Directions
Corner of Parkway and Arkansas Ave.
Standard status
Active
APN
758-00442-000C
Size
9,126 SF
Lot size
0.91 Acres
Taxes and HOA fees
Tax Description
LT 11 TO 14 PT 9 & 10 BLK 79 CITY OF RUSSELLVILLE
Tax Annual Amount
5609
Legal Description
LT 11 TO 14 PT 9 & 10 BLK 79 CITY OF RUSSELLVILLE
Building Details
Year built
1984
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
Wetzel Group
(479) 970-0986
Added: Jul 22
Changed: Aug 19
Last Checked: Aug 19 at 1:06PM
MLS# 1356275
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 strip mall contains 9,126 square feet of commercial space on a 0.9113-acre parcel. Constructed in 1984, the property occupies a corner position at the intersection of Hwy 7, Arkansas Avenue, and Parkway, with the address listed as 127 Parkway Drive.
The site is in Russellville, near the downtown entertainment district and Arkansas Tech. Its location places the retail property within an established commercial area with direct access from the surrounding roadway network. The Russellville property is identified within Pope County and carries a 72801 ZIP Code.
The site is in Russellville, near the downtown entertainment district and Arkansas Tech. Its location places the retail property within an established commercial area with direct access from the surrounding roadway network. The Russellville property is identified within Pope County and carries a 72801 ZIP Code.
Key Highlights
- 9,126 square feet of commercial space
- 0.9113‑acre parcel
- Built in 1984
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
$82,339
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
8.28%
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%
$1,646,780
$1.6M
Cap Rate 7%
$1,176,271
$1.2M
Cap Rate 9%
$914,878
$914.9K
Market Conditions
NOI Build-Up for 9,126 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
$125.9K $13.80/SF
− Vacancy
−$8.3K −$0.91/SF
EGI
$117.6K $12.89/SF
− OpEx
−$35.3K −$3.87/SF
NOI
$82.3K $9.02/SF
Area
Pope County, AR
Vacancy
6.60%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,646,780
Cap Rate 7%
$1,176,271
Cap Rate 9%
$914,878
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.37M
NOI $82,339 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,065 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
107k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Home Improvements & Furnishings 1%
Russellville #1
Shops & Services
20,504 visits/mo
0.4 miles
Wendy's
Dining
17,448 visits/mo
0.5 miles
Taco Villa
Dining
9,386 visits/mo
0.4 miles
Arby's
Dining
7,784 visits/mo
0.4 miles
KFC
Dining
6,781 visits/mo
0.4 miles
Demographics for 72801, AR
18,510
Population
7,530
Households
2.5
Avg Household Size
29
Median Age
26%
College-Educated
82%
High-School Grad
8.0 sq mi
ZIP Area
2,314
Density / Sq Mi
$42,363
Median Household Income
$22,473
Median Earnings
$837
Median Rent
$153,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Retail property positioned at the intersection of Highway 7, Arkansas Avenue, and Parkway with access from Parkway Drive.
Where is this strip mall located?
The property is located at 127 Parkway Drive Russellville, AR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 9,126 square feet of commercial space; 0.9113‑acre parcel; Built in 1984
