Building Details

Buildings 1

Stories 3

Tenancy Multi

Listing Agency: Ghan & Cooper Commercial Properties

Listed By: Tyler Teague · License #AR SA00079797 Show Phone

Source: Crexi

Added: Feb 18 Changed: Oct 12 Last Checked: Oct 20 at 5:44PM

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

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.

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 / Yr

$168,881

Cap Rate

7.34%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,377,620 $3.4M

Cap Rate 7%

$2,412,586 $2.4M

Cap Rate 9%

$1,876,456 $1.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 16,905 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $251,770 @ 7.0% cap · market cap 10.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Greenwood Bible College Religious School Gaston Troy Law Firm The Center Street Parlour Tattoo & Piercing Shop Edward Jones - Financial ... Financial Advisor Walters, Allison, Parker ... Law Firm

Suggested Use

Top Pick Law Firm Dental Office Big Box & Wholesale Store Spa & Massage Center Plumbing Service Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Contact for pricing

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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