Updated Corner Mixed-Use
For Sale
$337,000
203 S Neal St, Prairie Grove, AR 72753
Flexible mixed-use zoning supports residential, commercial, and live-work applications near downtown amenities.
Property Size2,600 SF
Price / SF$129.62
Days on Market54
Property Features for 203 S Neal St
General Information
Standard status
Active
Size
2,600 SF
Building Details
Year Built
1980
Listing Agency:
Keller Williams Market Pro Realty
Listed By:
Dave Hodges Team
(479) 777-8031
Source:
Thebesthomeprice
Added: Sep 5
Changed: Oct 25
Last Checked: Oct 7 at 3:07PM
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 Keller Williams Market Pro Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,600-square-foot mixed-use property, built in 1980, occupies a prominent corner lot and has undergone extensive interior and exterior updates. Improvements include drywall replacing paneling, new flooring throughout, refreshed electrical and plumbing fixtures, new countertops, and a new kitchen sink. Exterior work and landscaping further enhance the property’s presentation.
The location is within one block of shops, restaurants, and other local amenities, with historic downtown nearby. Proximity to the local fire department adds a convenient surrounding feature. Mixed-use zoning supports a range of residential, commercial, and live-work configurations, subject to applicable requirements.
The location is within one block of shops, restaurants, and other local amenities, with historic downtown nearby. Proximity to the local fire department adds a convenient surrounding feature. Mixed-use zoning supports a range of residential, commercial, and live-work configurations, subject to applicable requirements.
Key Highlights
- 2,600‑square‑foot mixed‑use property built in 1980
- Prominent corner‑lot position near historic downtown
- Within one block of shops, restaurants, and other local amenities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,096
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,920
$361.9K
Cap Rate 7%
$258,514
$258.5K
Cap Rate 9%
$201,067
$201.1K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$31.2K $12.00/SF
− Vacancy
−$2.2K −$0.86/SF
EGI
$29.0K $11.14/SF
− OpEx
−$10.9K −$4.18/SF
NOI
$18.1K $6.96/SF
Area
Washington County, AR
Vacancy
7.20%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$361,920
Cap Rate 7%
$258,514
Cap Rate 9%
$201,067
Alternative Uses
Best Use
Office B
$560.8K
$490.7K – $654.3K
NOI $39,256 @ 7.0% cap · market cap 11.65%
Second Best
Mixed Use
$258.5K
$226.2K – $301.6K
NOI $18,096 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$697.9K
$610.7K – $814.2K
NOI $48,852 @ 7.0% cap · market cap 14.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 72753, AR
10,525
Population
4,078
Households
2.6
Avg Household Size
37
Median Age
20%
College-Educated
92%
High-School Grad
89.2 sq mi
ZIP Area
118
Density / Sq Mi
$64,701
Median Household Income
$40,264
Median Earnings
$911
Median Rent
$227,900
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
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible mixed-use zoning supports residential, commercial, and live-work applications near downtown amenities.
Where is this mixed-use property located?
The property is located at 203 S Neal St Prairie Grove, AR.
What is the asking price?
The asking price for this property is $337,000.
What are key features of this property?
This property features: 2,600‑square‑foot mixed‑use property built in 1980; Prominent corner‑lot position near historic downtown; Within one block of shops, restaurants, and other local amenities
