Flex Building with Shop
New
For Sale
$525,000
2 Ellzey Ln, Greenbrier, AR 72058
Commercial / Industrial, Greenbrier, AR
Property Size4,119 SF
Lot Size0.80 Acres
Price / SF$127.46
Days on Market3
Property Features for 2 Ellzey Ln
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
10
Directions
From I-40 and Hwy 65 (Exit 125) in Conway, Take Hwy 65 North approximately 6.5 miles to Ellzey Ln on the East (Right) and property is on the corner
Subdivision
GREENBRIER SCHOOL DISTRICT
Standard status
Active
Size
4,119 SF
Lot size
0.80 Acres
Taxes and HOA fees
Tax Description
Metes & Bounds
Tax Annual Amount
2696
Legal Description
Metes & Bounds
Building Details
Year built
2017
Floors in Building
2
Listing Agency:
REMAX Ultimate · RE/MAX International
(501) 730-1958
Listed By:
Adam Treece · License #SA00087955
(501) 428-0872
Added: Sep 12
Last Checked: Sep 14 at 8:06AM
MLS# 26037281
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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.
Built in 2017, this flex property provides 4,119 square feet with a layout suited to office and commercial use. The conditioned area includes a kitchen, open entry and living area, loft, and five additional rooms. Interior details include 12-foot windows with automatic shades, reclaimed antique brick, exposed ductwork, galvanized metal countertops, nickel-gap wood walls, and custom steel stairs and railings.
An insulated 24-by-30-foot garage includes an 18-by-8-foot overhead door, while the attached 21-by-30-foot shop has 16-foot sidewalls and a 14-foot overhead door. The building is insulated with spray foam and equipped with two HVAC units, a tankless water heater, and an 8-foot industrial fan. Positioned at Ellzey Lane and Hwy 65, the property also has highway exposure and power extended to the road for signage.
An insulated 24-by-30-foot garage includes an 18-by-8-foot overhead door, while the attached 21-by-30-foot shop has 16-foot sidewalls and a 14-foot overhead door. The building is insulated with spray foam and equipped with two HVAC units, a tankless water heater, and an 8-foot industrial fan. Positioned at Ellzey Lane and Hwy 65, the property also has highway exposure and power extended to the road for signage.
Key Highlights
- 4,119‑square‑foot flex building constructed in 2017
- 2,769 conditioned square feet with kitchen, loft, open entry/living area, and 5 additional rooms
- Insulated 24'x30' garage with 18'x8' 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
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
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
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Contemporary flex property combining finished office areas with insulated garage and attached shop improvements.
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: 4,119‑square‑foot flex building constructed in 2017; 2,769 conditioned square feet with kitchen, loft, open entry/living area, and 5 additional rooms; Insulated 24'x30' garage with 18'x8' overhead door
