Quadplex with Flexible Unit
2012 Martin Street, Conway, AR 72034
For Sale
$395,000
The existing residential configuration could accommodate approximately eight apartments, with office use also identified as an option.
Property Size5,187 SF
Lot Size0.32 Acres
Price / SF$76.15
Days on Market146
Property Features for 2012 Martin Street
General Information
Standard status
Size
Lot size
Property subtype
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Severity
Evidence
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Buildings
Building Size
Listing Agency:
Century 21 United
Listed By:
Jennifer Williams
(901) 335-5865
Source:
Dillrealestate
Added: Jun 17
Changed: Nov 8
Last Checked: Nov 8 at 8:47PM
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 Century 21 United
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Investment Insights
Based on property information with market context.
Built in 1938, this residential property contains approximately 5,187 square feet on a 0.32-acre parcel. Its existing layout includes multiple living areas and may be configured for approximately eight apartments. Office use is another stated possibility. Bathtubs are currently covered with sheetrock; the owner is willing to uncover them and restore full bathrooms.
The property has previously served as a fraternity house and a daycare. It is located near downtown Conway and the University of Central Arkansas, with shopping, dining, and employment centers also nearby.
The property has previously served as a fraternity house and a daycare. It is located near downtown Conway and the University of Central Arkansas, with shopping, dining, and employment centers also nearby.
Key Highlights
- Approximately 5,187 square feet on a 0.32‑acre parcel
- Existing configuration could support approximately eight apartments
- Built in 1938
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,891
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,820
$697.8K
Cap Rate 7%
$498,443
$498.4K
Cap Rate 9%
$387,678
$387.7K
Market Conditions
NOI Build-Up for 5,187 SF
Gross rent
$52.9K $10.20/SF
− Vacancy
−$3.1K −$0.59/SF
EGI
$49.8K $9.61/SF
− OpEx
−$15.0K −$2.88/SF
NOI
$34.9K $6.73/SF
Area
Faulkner County, AR
Vacancy
5.79%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$697,820
Cap Rate 7%
$498,443
Cap Rate 9%
$387,678
Alternative Uses
Best Use
Multifamily LT 5
$498.4K
$436.1K – $581.5K
NOI $34,891 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$445.5K
$389.8K – $519.7K
NOI $31,182 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,817 @ 7.0% cap · market cap 20.97%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
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Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - The existing residential configuration could accommodate approximately eight apartments, with office use also identified as an option.
Where is this quadplex located?
The property is located at 2012 Martin Street Conway, AR.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Approximately 5,187 square feet on a 0.32‑acre parcel; Existing configuration could support approximately eight apartments; Built in 1938
