Garden-Style Apartment
New
For Sale
$3,800,000
1810 Bishop Road, Bryant, AR 72022
Updated multifamily community with on-site laundry, central HVAC, and a balanced mix of one- and two-bedroom residences.
Property Size30,228 SF
Lot Size3.81 Acres
Price / SF$125.71
Days on Market3
Property Features for 1810 Bishop Road
General Information
Standard status
Active
Size
30,228 SF
Lot size
3.81 Acres
Property subtype
Multi-family
Units
Unit Mix
16 x 1BR (flat), 24 x 2BR (flat)
Multifamily Units
40
Additional Details
Highway Access
Yes
Amenities
on-site laundry
Building Details
Construction
garden-style
Listing Agency:
Capital Real Estate Advisors
(501) 420-4097
Listed By:
Sergio Convers · License #PB00059330
(501) 266-0007
Source:
Arprorealty
Added: Sep 11
Last Checked: Sep 13 at 11:15AM
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 on ±3.81 acres at 1810 Bishop Road in Bryant, Arkansas. The property contains 30,228 SF and offers 16 one-bedroom flats of ±646 SF and 24 two-bedroom flats of ±834 SF. Units feature all-electric systems and central HVAC, while residents have access to on-site laundry facilities and tenant-paid water service.
Recent improvements include stone countertops in most kitchens, updated appliances, new ceiling fans, and replacement of the majority of HVAC units and water heaters. The community is positioned near I-30, Bishop Park, and the Alcoa/Reynolds retail corridor, with access to Bryant’s school district and surrounding Central Arkansas employment and retail areas.
Recent improvements include stone countertops in most kitchens, updated appliances, new ceiling fans, and replacement of the majority of HVAC units and water heaters. The community is positioned near I-30, Bishop Park, and the Alcoa/Reynolds retail corridor, with access to Bryant’s school district and surrounding Central Arkansas employment and retail areas.
Key Highlights
- 40‑unit garden‑style apartment community on ±3.81 acres
- Balanced mix of 16 one‑bedroom and 24 two‑bedroom flats
- 30,228 SF property with ±646 SF one‑bedroom and ±834 SF two‑bedroom units
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
6.85%
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 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.60M
$5.77M – $7.70M
NOI $461,757 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
40
Residential units
Yes
Highway access
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily community with on-site laundry, central HVAC, and a balanced mix of one- and two-bedroom residences.
Where is this apartment building located?
The property is located at 1810 Bishop Road Bryant, AR.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: 40‑unit garden‑style apartment community on ±3.81 acres; Balanced mix of 16 one‑bedroom and 24 two‑bedroom flats; 30,228 SF property with ±646 SF one‑bedroom and ±834 SF two‑bedroom units
