Foam-Encapsulated Fitness
For Sale
$599,999
1845 Morgan Road, Dover, AR 72837
CommercialSale, Dover, AR
Property Size9,600 SF
Lot Size0.90 Acres
Price / SF$62.50
Days on Market141
Property Features for 1845 Morgan Road
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Head west on I-40 W Take exit 81 toward AR-7/Russellville/Arkansas Ave 0.2 mi Turn left onto E Aspen Ln Turn right at the 1st cross street onto AR-27 N/AR 7 N/N Arkansas Ave Continue to follow AR-27 N/AR 7 N 4.3 mi Turn right onto Morgan Rd Destination on Right
Standard status
Active
APN
048-00363-004C
Size
9,600 SF
Lot size
0.90 Acres
Taxes and HOA fees
Tax Description
PT NE NE
Tax Annual Amount
6364
Legal Description
PT NE NE
Listing Agency:
Moore and Company REALTORS
(479) 968-3300
Listed By:
Orry Lee · License #SA00093940
(501) 208-1771
Added: May 11
Changed: Sep 7
Last Checked: Sep 28 at 2:06AM
MLS# 1346947
Copyright © 2026 ArkansasONE MLS. 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 9,600-square-foot commercial facility is currently used as a sports center and offers an open interior suited to athletic, recreational, event, and training activities. The metal-framed building is completely foam-encapsulated and includes two bathrooms, an office, and upstairs storage. Its layout provides a substantial indoor setting that can support continued sports use or adaptation for other commercial purposes.
Set on approximately 0.90 acres at 1845 Morgan Road in Dover, the property is located in Pope County and carries a 72837 postal designation. The existing improvements combine a large open area with supporting administrative and storage spaces, creating a flexible configuration for an owner-user or operator seeking a dedicated commercial facility.
Set on approximately 0.90 acres at 1845 Morgan Road in Dover, the property is located in Pope County and carries a 72837 postal designation. The existing improvements combine a large open area with supporting administrative and storage spaces, creating a flexible configuration for an owner-user or operator seeking a dedicated commercial facility.
Key Highlights
- 9,600+/- SF commercial facility
- Current sports center use with open interior layout
- Metal‑framed construction with complete foam encapsulation
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
$37,256
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
6.21%
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%
$745,120
$745.1K
Cap Rate 7%
$532,229
$532.2K
Cap Rate 9%
$413,956
$414.0K
Market Conditions
NOI Build-Up for 9,600 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
$57.6K $6.00/SF
− Vacancy
−$4.4K −$0.46/SF
EGI
$53.2K $5.54/SF
− OpEx
−$16.0K −$1.66/SF
NOI
$37.3K $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 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%
$745,120
Cap Rate 7%
$532,229
Cap Rate 9%
$413,956
Alternative Uses
Best Use
Flex RnD
$1.17M
$1.02M – $1.36M
NOI $81,652 @ 7.0% cap · market cap 13.61%
Second Best
Industrial
$532.2K
$465.7K – $620.9K
NOI $37,256 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,366 @ 7.0% cap · market cap 17.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
9
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72837, AR
7,897
Population
3,988
Households
2
Avg Household Size
43
Median Age
16%
College-Educated
83%
High-School Grad
244.2 sq mi
ZIP Area
32
Density / Sq Mi
$47,250
Median Household Income
$37,507
Median Earnings
$847
Median Rent
$124,500
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?
Fitness center & gym - Open commercial facility with office, storage, and flexible space for athletic, event, or recreational operations.
Where is this fitness center & gym located?
The property is located at 1845 Morgan Road Dover, AR.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: 9,600+/- SF commercial facility; Current sports center use with open interior layout; Metal‑framed construction with complete foam encapsulation
