Corner Strip
For Sale
$995,000
127 Parkway Drive, Russellville, AR 72801
Retail property positioned at a key intersection near downtown and Arkansas Tech.
Property Size9,126 SF
Price / SF$109.03
Days on Market41
Property Features for 127 Parkway Drive
General Information
Standard status
Active
Size
9,126 SF
Taxes and HOA fees
Annual Taxes
$5,609
Listing Agency:
Arkansas Real Estate Collective
(479) 970-0986
Listed By:
Wetzel Group
(479) 970-0986
Source:
Exprealty
Added: Jul 22
Changed: Aug 30
Last Checked: Aug 31 at 12:21AM
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 Arkansas Real Estate Collective
Investment Insights
Based on property information with market context.
This strip mall contains 9,126 square feet of retail property at 127 Parkway Drive in Russellville, Arkansas. Its corner position places the site at the junction of Hwy 7, Arkansas Ave., and Parkway, providing direct exposure from multiple approaches.
The property is located near downtown Russellville’s entertainment district and Arkansas Tech. Its placement within the town center supports convenient access for retail users and customers seeking a location near established civic and entertainment activity.
The property is located near downtown Russellville’s entertainment district and Arkansas Tech. Its placement within the town center supports convenient access for retail users and customers seeking a location near established civic and entertainment activity.
Key Highlights
- 9,126‑square‑foot strip mall
- Corner location at Hwy 7, Arkansas Ave., and Parkway
- 127 Parkway Drive address in Russellville, AR 72801
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
Current Use
Location Intelligence
Trade Area within ½ mile
1,093
Businesses Nearby
122k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 33%
Home Improvements & Furnishings 1%
Electronics 1%
McDonald's
Dining
31,274 visits/mo
0.5 miles
Russellville #1
Shops & Services
20,504 visits/mo
0.5 miles
Wendy's
Dining
17,448 visits/mo
0.2 miles
The UPS Store
Shops & Services
7,173 visits/mo
0.3 miles
KFC
Dining
6,781 visits/mo
0.2 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 a key intersection near downtown and Arkansas Tech.
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‑foot strip mall; Corner location at Hwy 7, Arkansas Ave., and Parkway; 127 Parkway Drive address in Russellville, AR 72801
