C-2 Flex Space with Overhead
For Sale
$299,000
1600 N Museum Rd., Conway, AR 72032
Includes office, bathroom, and meeting-space improvements in progress.
Property Size1,200 SF
Price / SF$249.17
Days on Market16
Property Features for 1600 N Museum Rd.
General Information
Standard status
Active
Size
1,200 SF
Building Details
Year Built
2000
Listing Agency:
REMAX Ultimate
(501) 514-5379
Listed By:
Gelinda Mudgett · License #EB00052365
Source:
Themoverealty
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 2:48PM
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 REMAX Ultimate
Investment Insights
Based on property information with market context.
This flex-space property was built in 2000 and is currently zoned C-2. Interior improvements have recently begun, including an office, bathroom, and meeting area. The building also features an overhead door and can accommodate storage and office functions within the existing configuration.
The property occupies slightly more than one acre at 1600 N Museum Rd. in Conway, Arkansas. Its combination of warehouse-oriented space, office improvements, meeting space, and overhead access provides a practical format for commercial users seeking both enclosed storage and administrative areas.
The property occupies slightly more than one acre at 1600 N Museum Rd. in Conway, Arkansas. Its combination of warehouse-oriented space, office improvements, meeting space, and overhead access provides a practical format for commercial users seeking both enclosed storage and administrative areas.
Key Highlights
- C‑2 zoning
- Interior finish‑out underway for an office, bathroom, and meeting area
- Overhead door included
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
$15,049
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
5.03%
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%
$300,980
$301.0K
Cap Rate 7%
$214,986
$215.0K
Cap Rate 9%
$167,211
$167.2K
Market Conditions
NOI Build-Up for 1,200 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
$22.3K $18.60/SF
− Vacancy
−$2.3K −$1.88/SF
EGI
$20.1K $16.72/SF
− OpEx
−$5.0K −$4.18/SF
NOI
$15.0K $12.54/SF
Area
Faulkner County, AR
Vacancy
10.10%
Lease Rate
$18.60 /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%
$300,980
Cap Rate 7%
$214,986
Cap Rate 9%
$167,211
Alternative Uses
Best Use
Office B
$215.0K
$188.1K – $250.8K
NOI $15,049 @ 7.0% cap · market cap 5.03%
Second Best
Flex RnD
$104.1K
$91.1K – $121.5K
NOI $7,287 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$273.7K
$239.5K – $319.3K
NOI $19,159 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72032, AR
34,316
Population
14,255
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
300
Density / Sq Mi
$61,452
Median Household Income
$36,877
Median Earnings
$976
Median Rent
$183,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Includes office, bathroom, and meeting-space improvements in progress.
Where is this flex space located?
The property is located at 1600 N Museum Rd. Conway, AR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: C‑2 zoning; Interior finish‑out underway for an office, bathroom, and meeting area; Overhead door included
