Flex Space with Office
New
For Sale
$295,000
1600 N Museum Rd., Conway, AR 72032
Commercial / Industrial, Conway, AR
Property Size1,200 SF
Lot Size1.06 Acres
Price / SF$245.83
Days on Market2
Property Features for 1600 N Museum Rd.
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
15
Exterior features
Pole Sign, Overhead Doors
Lot features
Level
Directions
Take Hwy 64 (OAK St)left onto Museum follow down property on right. Located next to the ball fields.
Subdivision
CONWAY NORTHEAST
Standard status
Active
Size
1,200 SF
Lot size
1.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
see deed
Tax Annual Amount
1274
Legal Description
see deed
Building Details
Year built
2000
Floors in Building
1
Flooring type
Concrete
Roof type
Metal
Listing Agency:
REMAX Ultimate · RE/MAX International
(501) 730-1958
Listed By:
Gelinda Mudgett · License #EB00052365
(501) 514-5379
Added: Aug 28
Last Checked: Aug 29 at 2:06AM
MLS# 26035097
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,200-square-foot flex property sits on 1.06 acres and is zoned C-2. The seller has begun finishing out interior areas for an office, bathroom, and meeting space, while the building also includes a concrete floor and an overhead door. A pole sign provides an additional exterior feature, and the structure has a metal roof.
Located at 1600 N Museum Rd. in Conway, the property is within the city and offers a combination of building area and surrounding land. Constructed in 2000, the site presents a commercial configuration that can accommodate warehouse and office functions, subject to applicable requirements.
Located at 1600 N Museum Rd. in Conway, the property is within the city and offers a combination of building area and surrounding land. Constructed in 2000, the site presents a commercial configuration that can accommodate warehouse and office functions, subject to applicable requirements.
Key Highlights
- 1,200‑square‑foot flex space on 1.06 acres
- C‑2 zoning
- Seller has begun finishing out an office, bathroom, and meeting space
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
5.10%
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 5.10%
Second Best
Flex RnD
$104.1K
$91.1K – $121.5K
NOI $7,287 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$273.7K
$239.5K – $319.3K
NOI $19,159 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
252
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 - C-2 zoning with seller-initiated work for an office, bathroom, and meeting space.
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 $295,000.
What are key features of this property?
This property features: 1,200‑square‑foot flex space on 1.06 acres; C‑2 zoning; Seller has begun finishing out an office, bathroom, and meeting space
