Modern Flex Building with
New
For Sale
$525,000
2 Ellzey Ln, Greenbrier, AR 72058
Flexible commercial building with office-oriented interiors, attached shop space, and Highway 65 exposure.
Property Size4,119 SF
Price / SF$127.46
Days on Market2
Property Features for 2 Ellzey Ln
General Information
Standard status
Active
Size
4,119 SF
Property subtype
Land
Zoning
no zoning
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Office Build-Out
2,769 SF
Drive-In Doors
2
Building Details
Year Built
2017
Buildings
1
Construction
modern-industrial
Listing Agency:
Lake Hamilton Realty, Inc
Listed By:
Amber Wood
(501) 444-2055
Source:
Midsouthar
Added: Sep 14
Changed: Sep 15
Last Checked: Sep 15 at 7:22AM
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 Lake Hamilton Realty, Inc
Investment Insights
Based on property information with market context.
Built in 2017, this flex property combines a finished office-oriented interior with substantial service and storage areas. The conditioned portion measures 2,769 feet and includes a kitchen, open entry and living area, loft, five additional rooms, and an insulated garage. Building systems include spray-foam insulation, two HVAC units, and a tankless water heater. Interior finishes include reclaimed brick, exposed ductwork, galvanized metal countertops, nickel-gap wood walls, and custom steel stairs and railings.
An insulated 24' x 30' garage has an 18' x 8' overhead door, while the attached 21' x 30' shop provides 16' sidewalls and a 14' overhead door. The property occupies the corner of Ellzey Ln and Hwy 65 in Springhill, just outside Greenbrier and minutes from Conway. Power has been extended to the road for signage, and the property has no zoning designation.
An insulated 24' x 30' garage has an 18' x 8' overhead door, while the attached 21' x 30' shop provides 16' sidewalls and a 14' overhead door. The property occupies the corner of Ellzey Ln and Hwy 65 in Springhill, just outside Greenbrier and minutes from Conway. Power has been extended to the road for signage, and the property has no zoning designation.
Key Highlights
- 2,769 conditioned feet with kitchen, open entry and living area, loft, and five additional rooms
- Insulated 24' x 30' garage with an 18' x 8' overhead door
- Attached 21' x 30' shop with 16' sidewalls and a 14' overhead door
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
$25,013
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
4.76%
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%
$500,260
$500.3K
Cap Rate 7%
$357,329
$357.3K
Cap Rate 9%
$277,922
$277.9K
Market Conditions
NOI Build-Up for 4,119 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
$41.0K $9.96/SF
− Vacancy
−$2.5K −$0.62/SF
EGI
$38.5K $9.34/SF
− OpEx
−$13.5K −$3.27/SF
NOI
$25.0K $6.07/SF
Area
Faulkner County, AR
Vacancy
6.20%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
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%
$500,260
Cap Rate 7%
$357,329
Cap Rate 9%
$277,922
Alternative Uses
Best Use
Office B
$738.0K
$645.7K – $861.0K
NOI $51,657 @ 7.0% cap · market cap 9.84%
Second Best
Flex RnD
$357.3K
$312.7K – $416.9K
NOI $25,013 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$939.5K
$822.1K – $1.10M
NOI $65,765 @ 7.0% cap · market cap 12.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
127
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72058, AR
18,525
Population
7,143
Households
2.6
Avg Household Size
37
Median Age
28%
College-Educated
96%
High-School Grad
157.3 sq mi
ZIP Area
118
Density / Sq Mi
$80,406
Median Household Income
$48,578
Median Earnings
$1,027
Median Rent
$203,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial building with office-oriented interiors, attached shop space, and Highway 65 exposure.
Where is this flex space located?
The property is located at 2 Ellzey Ln Greenbrier, AR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,769 conditioned feet with kitchen, open entry and living area, loft, and five additional rooms; Insulated 24' x 30' garage with an 18' x 8' overhead door; Attached 21' x 30' shop with 16' sidewalls and a 14' overhead door
