Building Details

Year built 1962

Roof type Shingle

Listing Agency: McGraw REALTORS · Prudential Real Estate Show Phone

Listed By: Tonia Hobbs Show Phone

Added: Oct 19 Last Checked: Oct 20 at 12:06AM

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MLS# 1092545

Copyright © 2026 Western River Valley Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

At 1510 W Center St in Greenwood, this 1.91-acre commercial land property includes a 2,024-square-foot building used for building-material storage and workshop activities. A separate rock house is also on the site. The building dates to 1962 and has natural gas heating and a shingle roof.

The property has more than 200 feet of highway frontage and sits beside a food court. Existing buildings and the site’s current storage and workshop use provide a clear picture of its present configuration.

Key Highlights

• 1.91‑acre commercial land parcel
• 2,024‑square‑foot building used for building‑material storage and workshop activities
• More than 200 feet of highway frontage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,941

Cap Rate

3.37%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$218,820 $218.8K

Cap Rate 7%

$156,300 $156.3K

Cap Rate 9%

$121,567 $121.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,024 SF

Gross rent

$18.2K $9.00/SF

− Vacancy

−$1.4K −$0.68/SF

EGI

$16.8K $8.32/SF

− OpEx

−$5.9K −$2.91/SF

NOI

$10.9K $5.41/SF

Area

Sebastian County, AR

Vacancy

7.60%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$218,820

Cap Rate 7%

$156,300

Cap Rate 9%

$121,567

Alternative Uses

Best Use

Flex RnD

$156.3K

$136.8K – $182.4K (±1% cap)

NOI $10,941 @ 7.0% cap · market cap 3.37%

Second Best

Industrial

$108.8K

$95.2K – $127.0K (±1% cap)

NOI $7,617 @ 7.0% cap · market cap 2.34%

Theoretical Best

Healthcare Medical

$430.6K

$376.8K – $502.4K (±1% cap)

NOI $30,144 @ 7.0% cap · market cap 9.28%

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

Property Analytics

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Current Use

The House Collective Discount Store

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Dental Office Electrical Service Law Firm Spa & Massage Center

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

156

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 Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - The site includes a storage and workshop building, plus a separate rock house.

Where is this commercial land located?

The property is located at 1510 W Center ST Greenwood, AR.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1.91‑acre commercial land parcel; 2,024‑square‑foot building used for building‑material storage and workshop activities; More than 200 feet of highway frontage