Multi-Tenant Flex Space
For Sale
$4,753,000
20321 and 20323 E Hwy 412, Springdale, AR 72764
CommercialSale, Springdale, AR
Property Size23,996 SF
Lot Size5.00 Acres
Price / SF$198.07
Days on Market81
Property Features for 20321 and 20323 E Hwy 412
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Head east on Highway 412 for 6.9 miles from Butterfield Coach Road. Turn right into the parking lot as the building is on the south side of Highway 412.
Standard status
Active
APN
001-18283-000
Size
23,996 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Description
PT W/2 SE SE 5.00 AC FURTHER DESCRIBED FROM 2024-1192 AS: Part of the W/2 of the SE/4 of the SE/4 of Section 32, Township 18 North, Range 28 West, Washington County, Arkansas, being more particularly described as follows: beginning at a set iron pin at t
Legal Description
PT W/2 SE SE 5.00 AC FURTHER DESCRIBED FROM 2024-1192 AS: Part of the W/2 of the SE/4 of the SE/4 of Section 32, Township 18 North, Range 28 West, Washington County, Arkansas, being more particularly described as follows: beginning at a set iron pin at t
Building Details
Year built
2024
Number of units
23
Roof type
Metal
Listing Agency:
Black Diamond Mergers & Acquisitions, LLC
(479) 365-4307
Listed By:
Lane Auth · License #SA00091806
(479) 304-1035
Added: Jul 20
Changed: Sep 3
Last Checked: Oct 8 at 2:06AM
MLS# 1355414
Copyright © 2026 ArkansasONE MLS. 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.
This offering includes two multi-tenant flex buildings completed in 2024, totaling 23,996 square feet across 19 suites. The centers are 84% leased, with four suites currently available. Existing occupants operate under NNN lease structures, leaving limited landlord responsibilities. Metal roofing serves both buildings, which each contain 11,998 square feet.
The property encompasses 5 acres at 20321 and 20323 E Hwy 412 in Springdale, Arkansas. Highway 412 frontage provides exposure to approximately 19,000 vehicles per day. The site combines newer construction, a multi-suite configuration, and established occupancy within an east Springdale commercial setting.
The property encompasses 5 acres at 20321 and 20323 E Hwy 412 in Springdale, Arkansas. Highway 412 frontage provides exposure to approximately 19,000 vehicles per day. The site combines newer construction, a multi-suite configuration, and established occupancy within an east Springdale commercial setting.
Key Highlights
- 23,996 SF across two flex buildings, each totaling 11,998 square feet
- 84% leased with 19 tenants and four suites available for lease
- All tenants operate under NNN leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,290
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,805,800
$2.8M
Cap Rate 7%
$2,004,143
$2.0M
Cap Rate 9%
$1,558,778
$1.6M
Market Conditions
NOI Build-Up for 23,996 SF
Gross rent
$216.0K $9.00/SF
− Vacancy
−$15.5K −$0.65/SF
EGI
$200.4K $8.35/SF
− OpEx
−$60.1K −$2.51/SF
NOI
$140.3K $5.85/SF
Area
Washington County, AR
Vacancy
7.20%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,805,800
Cap Rate 7%
$2,004,143
Cap Rate 9%
$1,558,778
Alternative Uses
Best Use
Industrial
$2.00M
$1.75M – $2.34M
NOI $140,290 @ 7.0% cap · market cap 2.95%
Second Best
Flex RnD
$1.80M
$1.57M – $2.10M
NOI $125,777 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$6.44M
$5.64M – $7.51M
NOI $450,864 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
84%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 72764, AR
60,786
Population
20,781
Households
2.9
Avg Household Size
30
Median Age
20%
College-Educated
72%
High-School Grad
66.2 sq mi
ZIP Area
918
Density / Sq Mi
$61,569
Median Household Income
$34,552
Median Earnings
$984
Median Rent
$226,100
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 Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Two recently built buildings offer multi-suite layouts with NNN leases and limited landlord responsibilities.
Where is this flex space located?
The property is located at 20321 and 20323 E Hwy 412 Springdale, AR.
What is the asking price?
The asking price for this property is $4,753,000.
What are key features of this property?
This property features: 23,996 SF across two flex buildings, each totaling 11,998 square feet; 84% leased with 19 tenants and four suites available for lease; All tenants operate under NNN leases
