Class A Office Building With Redevelopment
For Sale
Contact for pricing
1405 W Center St, Greenwood, AR 72936
Class A office space for sale, with additional land for redevelopment included in the offering.
Property Size16,905 SF
Lot Size9.40 Acres
Price / SF$136.05
Days on Market200
Property Features for 1405 W Center St
General Information
Standard status
Active
Size
16,905 SF
Class
A
Lot size
9.40 Acres
Property subtype
Office
Zoning
C-2
Building Details
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
Ghan & Cooper Commercial Properties
Listed By:
Tyler Teague · License #AR SA00079797
(479) 478-6161
Source:
Crexi
Added: Feb 18
Changed: Aug 25
Last Checked: Sep 5 at 4:12PM
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 Ghan & Cooper Commercial Properties
Investment Insights
Based on property information with market context.
Executive office space is available for sale as part of the Walters building complex, offering more than 16,000 SF of Class A office space. The offering also includes 9.4 acres of land for redevelopment.
In addition, the seller is offering a separate 1,450 SF building at 1305 W Center St, which is currently leased as a car lot, but could be redeveloped. The properties are located on W Center Street in Greenwood, Arkansas.
In addition, the seller is offering a separate 1,450 SF building at 1305 W Center St, which is currently leased as a car lot, but could be redeveloped. The properties are located on W Center Street in Greenwood, Arkansas.
Key Highlights
- More than 16,000 SF of Class A office space at 1404 W Center Street in Greenwood
- Includes 9.4 acres of land for redevelopment with the office offering
- Also available: a 1,450 SF building at 1305 W Center St, currently leased as a car lot
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
$168,881
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
7.34%
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%
$3,377,620
$3.4M
Cap Rate 7%
$2,412,586
$2.4M
Cap Rate 9%
$1,876,456
$1.9M
Market Conditions
NOI Build-Up for 16,905 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
$243.4K $14.40/SF
− Vacancy
−$18.3K −$1.08/SF
EGI
$225.2K $13.32/SF
− OpEx
−$56.3K −$3.33/SF
NOI
$168.9K $9.99/SF
Area
Sebastian County, AR
Vacancy
7.50%
Lease Rate
$14.40 /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%
$3,377,620
Cap Rate 7%
$2,412,586
Cap Rate 9%
$1,876,456
Alternative Uses
Best Use
Office B
$2.41M
$2.11M – $2.81M
NOI $168,881 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.60M
$3.15M – $4.20M
NOI $251,770 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
Explore this area
Business Placement
Demographics for 72936, AR
14,515
Population
6,019
Households
2.4
Avg Household Size
38
Median Age
27%
College-Educated
92%
High-School Grad
80.9 sq mi
ZIP Area
179
Density / Sq Mi
$72,213
Median Household Income
$45,724
Median Earnings
$824
Median Rent
$197,600
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 - Class A office space for sale, with additional land for redevelopment included in the offering.
Where is this office building located?
The property is located at 1405 W Center St Greenwood, 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: More than 16,000 SF of Class A office space at 1404 W Center Street in Greenwood; Includes 9.4 acres of land for redevelopment with the office offering; Also available: a 1,450 SF building at 1305 W Center St, currently leased as a car lot
