54-Unit Apartment
For Sale
Contact for pricing
1703 E Market Ave, Searcy, AR 72143
Multi-story property with varied one-, two-, and three-bedroom floor plans and off-street parking.
Property Size49,900 SF
Lot Size6.11 Acres
Price / SF$78.66
Days on Market133
Property Features for 1703 E Market Ave
General Information
Standard status
Active
Size
49,900 SF
Total Parking Spaces
62
Lot size
6.11 Acres
Property subtype
Multifamily
Net Operating Income
$235,522
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
8 x 3BR/1BA, 36 x 2BR/1BA, 10 x 1BR/1BA
Multifamily Units
54
Building Details
Year Built
1972
Buildings
7
Stories
2
Units
54
Listing Agency:
Horvath & Tremblay
(312) 361-1643
Listed By:
John Przybyla · License #471010441
Source:
Crexi
Added: Apr 20
Changed: Aug 30
Last Checked: Aug 30 at 4:20AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This multi-story apartment property at 1703 E Market Ave in Searcy, Arkansas, contains 54 units and 45,634 square feet of gross living area within 49,900 square feet of gross area. The unit mix includes eight 3-bedroom/1-bathroom apartments, 36 2-bedroom/1-bathroom apartments, and 10 1-bedroom/1-bathroom apartments. Constructed in 1972, the property occupies a 6.11-acre parcel and provides 62 off-street parking spaces.
The property fronts East Market Avenue, identified as US Route 64, along a primary commercial corridor in Searcy. Its location provides access across the city, including connections toward U.S. Route 67, and places the property near retail concentrations, employment centers, and surrounding residential neighborhoods. Little Rock is approximately 50 miles southwest.
The property fronts East Market Avenue, identified as US Route 64, along a primary commercial corridor in Searcy. Its location provides access across the city, including connections toward U.S. Route 67, and places the property near retail concentrations, employment centers, and surrounding residential neighborhoods. Little Rock is approximately 50 miles southwest.
Key Highlights
- 54 total apartment units with 8 three‑bedroom, 36 two‑bedroom, and 10 one‑bedroom units
- 45,634 square feet of gross living area within 49,900 square feet of gross area
- Situated on a 6.11‑acre parcel
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
$269,532
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
6.87%
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%
$5,390,640
$5.4M
Cap Rate 7%
$3,850,457
$3.9M
Cap Rate 9%
$2,994,800
$3.0M
Market Conditions
NOI Build-Up for 49,900 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
$526.9K $10.56/SF
− Vacancy
−$36.9K −$0.74/SF
EGI
$490.1K $9.82/SF
− OpEx
−$220.5K −$4.42/SF
NOI
$269.5K $5.40/SF
Area
White County, AR
Vacancy
7.00%
Lease Rate
$10.56 /SF/Yr
Expense Ratio
45.00%
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%
$5,390,640
Cap Rate 7%
$3,850,457
Cap Rate 9%
$2,994,800
Alternative Uses
Best Use
Apartment 5plus
$3.85M
$3.37M – $4.49M
NOI $269,532 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.13M
$7.99M – $10.65M
NOI $638,800 @ 7.0% cap · market cap 16.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
54
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Explore this area
Business Placement
Demographics for 72143, AR
35,111
Population
14,948
Households
2.3
Avg Household Size
37
Median Age
27%
College-Educated
89%
High-School Grad
302.1 sq mi
ZIP Area
116
Density / Sq Mi
$55,522
Median Household Income
$33,315
Median Earnings
$851
Median Rent
$176,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-story property with varied one-, two-, and three-bedroom floor plans and off-street parking.
Where is this apartment building located?
The property is located at 1703 E Market Ave Searcy, AR.
What is the asking price?
The asking price for this property is $3,925,361.
What are key features of this property?
This property features: 54 total apartment units with 8 three‑bedroom, 36 two‑bedroom, and 10 one‑bedroom units; 45,634 square feet of gross living area within 49,900 square feet of gross area; Situated on a 6.11‑acre parcel
