Westside Village Multifamily Investment
For Sale
Contact for pricing
1810 Bishop Dr, Bryant, AR 72022
Well-maintained 40-unit apartment complex with value-add potential.
Property Size30,228 SF
Lot Size3.81 Acres
Price / SF$131.50
Days on Market176
Property Features for 1810 Bishop Dr
General Information
Standard status
Active
Size
30,228 SF
Class
B
Total Parking Spaces
55
Lot size
3.81 Acres
Property subtype
Multifamily
Zoning
R-2
Occupancy
95%
Investment Type
Value Add
Net Operating Income
$287,134
Building Details
Year Built
1982
Year Renovated
2025
Buildings
5
Stories
2
Units
40
Listing Agency:
Capital Real Estate Advisors
(501) 266-0007
Listed By:
Sergio Convers · License #PB00059330
Source:
Crexi
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 11 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 Capital Real Estate Advisors
Investment Insights
Based on property information with market context.
Westside Village Apartments is a 40-unit garden-style community located on approximately 3.81 acres at 1810 Bishop Road in Bryant, Arkansas. The property is situated in one of Central Arkansas’ fastest-growing suburbs, with access to I-30, Bishop Park, and the Alcoa/Reynolds retail corridor. The unit mix includes 16 one-bedroom flats (646 SF) and 24 two-bedroom flats (834 SF). All units feature all-electric systems and central HVAC. Tenants are responsible for water expenses. On-site laundry facilities are available. The property is located near Bryant’s highly rated school district. Current market rents are $735 for one-bedroom units and range from $805 to $855 for two-bedroom units with washer/dryer connections. The site includes excess, buildable land that provides a future development opportunity, allowing for expansion of unit count or enhancement of the community through the creation of a park, common recreational area, or business/amenity space. Recent upgrades include the installation of stone countertops in most kitchens, replacement of the majority of HVAC units and water heaters, new ceiling fans, and updated appliances. The property size is 30228 square feet.
Key Highlights
- Significant mark‑to‑market rent growth potential with current rents below Bryant averages.
- Excess, buildable land provides a compelling future development opportunity.
- Recent upgrades including stone countertops, HVAC/water heater replacements, new ceiling fans, and updated appliances.
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
$260,396
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
6.55%
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%
$5,207,920
$5.2M
Cap Rate 7%
$3,719,943
$3.7M
Cap Rate 9%
$2,893,289
$2.9M
Market Conditions
NOI Build-Up for 30,228 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
$504.2K $16.68/SF
− Vacancy
−$30.8K −$1.02/SF
EGI
$473.4K $15.66/SF
− OpEx
−$213.1K −$7.05/SF
NOI
$260.4K $8.61/SF
Area
Saline County, AR
Vacancy
6.10%
Lease Rate
$16.68 /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%
$5,207,920
Cap Rate 7%
$3,719,943
Cap Rate 9%
$2,893,289
Alternative Uses
Best Use
Apartment 5plus
$3.72M
$3.25M – $4.34M
NOI $260,396 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.60M
$5.77M – $7.70M
NOI $461,757 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 72022, AR
18,206
Population
7,353
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
94%
High-School Grad
13.6 sq mi
ZIP Area
1,339
Density / Sq Mi
$84,471
Median Household Income
$51,193
Median Earnings
$987
Median Rent
$221,200
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 - Well-maintained 40-unit apartment complex with value-add potential.
Where is this apartment building located?
The property is located at 1810 Bishop Dr Bryant, AR.
What is the asking price?
The asking price for this property is $3,975,000.
What are key features of this property?
This property features: Significant mark‑to‑market rent growth potential with current rents below Bryant averages.; Excess, buildable land provides a compelling future development opportunity.; Recent upgrades including stone countertops, HVAC/water heater replacements, new ceiling fans, and updated appliances.
