Multi-Tenant Flex Space
For Sale
$4,753,000
20321 and 20323 E Hwy 412, Springdale, AR 72764
Commercial / Industrial, Springdale, AR
Property Size23,996 SF
Lot Size5.00 Acres
Price / SF$198.07
Days on Market97
Property Features for 20321 and 20323 E Hwy 412
General Information
Property type
Commercial Sale
Property subtype
Other
Parking
50
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.
Subdivision
SPRINGDALE
Standard status
Active
Size
23,996 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Description
PT W/2 SE SE 5.00 AC ...
Tax Annual Amount
13711
Legal Description
PT W/2 SE SE 5.00 AC ...
Building Details
Year built
2024
Floors in Building
1
Listing Agency:
Black Diamond Mergers & Acquisitions, LLC
(479) 365-4307
Listed By:
Christian Baldwin
(479) 685-5696
Added: Jul 21
Changed: Oct 5
Last Checked: Oct 25 at 2:06PM
MLS# 26029603
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.
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Investment Insights
Based on property information with market context.
This offering includes two multi-tenant flex buildings completed in 2024, with a combined 23,996 square feet across 19 suites. The centers are currently 84% leased, and four suites remain available for lease-up. Tenancies are structured as NNN leases, limiting ongoing landlord responsibilities.
The 5-acre property is positioned along Highway 412 in east Springdale, with reported traffic of approximately 19,000 vehicles per day. Each building contains 11,998 square feet, creating a pair of similarly sized commercial improvements within one campus.
The 5-acre property is positioned along Highway 412 in east Springdale, with reported traffic of approximately 19,000 vehicles per day. Each building contains 11,998 square feet, creating a pair of similarly sized commercial improvements within one campus.
Key Highlights
- Two 11,998‑SF flex buildings totaling 23,996 SF
- 84% leased with 19 tenants and four suites available
- NNN lease structure across all tenancies
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,934
Cap Rate
3.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,938,680
$2.9M
Cap Rate 7%
$2,099,057
$2.1M
Cap Rate 9%
$1,632,600
$1.6M
Market Conditions
NOI Build-Up for 23,996 SF
Gross rent
$192.9K $8.04/SF
− Vacancy
−$20.1K −$0.84/SF
EGI
$172.9K $7.20/SF
− OpEx
−$25.9K −$1.08/SF
NOI
$146.9K $6.12/SF
Area
Washington County, AR
Vacancy
10.40%
Lease Rate
$8.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,938,680
Cap Rate 7%
$2,099,057
Cap Rate 9%
$1,632,600
Alternative Uses
Best Use
Warehouse
$2.10M
$1.84M – $2.45M
NOI $146,934 @ 7.0% cap · market cap 3.09%
Second Best
Industrial
$2.00M
$1.75M – $2.34M
NOI $140,290 @ 7.0% cap · market cap 2.95%
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.
How Realmo checks its estimates
Property 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
Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Flex space - Two recently built flex centers offer multi-suite space under NNN lease structures.
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: Two 11,998‑SF flex buildings totaling 23,996 SF; 84% leased with 19 tenants and four suites available; NNN lease structure across all tenancies
