Adaptable Flex
For Sale
$219,000
1615 S Arkansas Avenue, Russellville, AR 72801
Former tattoo studio and salon with a flexible interior suitable for retail, office, or service-based use.
Property Size2,702 SF
Price / SF$81.05
Days on Market57
Property Features for 1615 S Arkansas Avenue
General Information
Standard status
Active
Size
2,702 SF
Listing Agency:
Arkansas Real Estate Collective
(479) 280-1999
Listed By:
Boyd Osborne · License #EB00050326
(479) 970-0244
Source:
Connectrealtynwa
Added: Aug 12
Changed: Sep 17
Last Checked: Oct 5 at 6:24PM
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 Arkansas Real Estate Collective
Investment Insights
Based on property information with market context.
Located at 1615 S Arkansas Avenue in Russellville, Arkansas, this 2,702-square-foot flex space offers an adaptable commercial layout. The property previously housed a tattoo studio and salon, providing an established framework for continued service-oriented occupancy or reconfiguration for retail and office applications.
Key Highlights
- 2,702 square feet of flex space
- Previously operated as a tattoo studio
- Previously used as a salon
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,486
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,720
$209.7K
Cap Rate 7%
$149,800
$149.8K
Cap Rate 9%
$116,511
$116.5K
Market Conditions
NOI Build-Up for 2,702 SF
Gross rent
$16.2K $6.00/SF
− Vacancy
−$1.2K −$0.46/SF
EGI
$15.0K $5.54/SF
− OpEx
−$4.5K −$1.66/SF
NOI
$10.5K $3.88/SF
Area
Pope County, AR
Vacancy
7.60%
Lease Rate
$6.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$209,720
Cap Rate 7%
$149,800
Cap Rate 9%
$116,511
Alternative Uses
Best Use
Retail
$348.3K
$304.7K – $406.3K
NOI $24,379 @ 7.0% cap · market cap 11.13%
Second Best
Flex RnD
$328.3K
$287.3K – $383.0K
NOI $22,982 @ 7.0% cap · market cap 10.49%
Theoretical Best
Office A
$431.7K
$377.7K – $503.7K
NOI $30,219 @ 7.0% cap · market cap 13.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72801, AR
18,510
Population
7,530
Households
2.5
Avg Household Size
29
Median Age
26%
College-Educated
82%
High-School Grad
8.0 sq mi
ZIP Area
2,314
Density / Sq Mi
$42,363
Median Household Income
$22,473
Median Earnings
$837
Median Rent
$153,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Former tattoo studio and salon with a flexible interior suitable for retail, office, or service-based use.
Where is this flex space located?
The property is located at 1615 S Arkansas Avenue Russellville, AR.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: 2,702 square feet of flex space; Previously operated as a tattoo studio; Previously used as a salon
