Listing Agency: Moore and Company REALTORS Show Phone

Listed By: Orry Lee · License #SA00093940 Show Phone

Added: May 11 Changed: Aug 19 Last Checked: Aug 19 at 5:06PM

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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 occupies approximately 0.90 acres at 1845 Morgan Road in Dover, Arkansas. The building is currently used as a sports center and features a broad open interior suited to athletic activities, training, gatherings, and other event-oriented operations.

The metal-framed structure has foam-encapsulated construction, two bathrooms, an office, and storage on the upper level. Its open floor plan and commercial-style buildout provide a functional base for continued recreational use or a reconfigured business operation. The property is located in Pope County and carries a 72837 postal code.

Key Highlights

• 9,600 square feet on approximately 0.90 acres
• Current sports center use with a broad open interior
• Metal‑framed building with foam‑encapsulated construction

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 (±1% cap)

NOI $81,652 @ 7.0% cap · market cap 13.61%

Second Best

Industrial

$532.2K

$465.7K – $620.9K (±1% cap)

NOI $37,256 @ 7.0% cap · market cap 6.21%

Theoretical Best

Office A

$1.53M

$1.34M – $1.79M (±1% cap)

NOI $107,366 @ 7.0% cap · market cap 17.89%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Fitness centers & gyms

Suggested Use

Top Pick Electrical Service Plumbing Service Big Box & Wholesale Store Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this fitness centers & gyms located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Fitness center & gym - Open commercial facility with athletic space, offices, restrooms, and upper-level storage.

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 square feet on approximately 0.90 acres; Current sports center use with a broad open interior; Metal‑framed building with foam‑encapsulated construction