Updated Corner Mixed-Use
New
For Sale
$349,900
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$134.58
Days on Market2
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) 316-3661
Source:
Thebesthomeprice
Added: Sep 5
Last Checked: Sep 5 at 2:55PM
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
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 = 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
$18,096
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
5.17%
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%
$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
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
$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 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%
$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 11.22%
Second Best
Mixed Use
$258.5K
$226.2K – $301.6K
NOI $18,096 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$697.9K
$610.7K – $814.2K
NOI $48,852 @ 7.0% cap · market cap 13.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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?
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 $349,900.
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
