Building Details

Year Built 1980

Listing Agency: Equity Partners Realty

Listed By: Vernon Schmiegelow · License #SA00016685 Show Phone

Source: Thebesthomeprice

Added: Sep 11 Changed: Oct 25 Last Checked: Oct 7 at 5:12PM

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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 Equity Partners Realty

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 1,669-square-foot commercial building was constructed in 1980 and originally operated as a convenience store. The former fuel tanks have been removed, and an EPA clearance letter is included with the property. An ice machine conveys with the sale, while the area behind the building is approximately 80% complete for food-truck parking.

The property is located at 204 NE 1st Ave in Gravette, Arkansas. A 2023 traffic count records 9683 vehicles daily on the road serving the site, providing measurable exposure for the existing building and its partially completed rear parking layout.

Key Highlights

• 1,669‑square‑foot building constructed in 1980
• Former fuel tanks removed; EPA clearance letter included
• Approximately 80% complete layout for food‑truck parking behind the building

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,447

Cap Rate

8.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$448,940 $448.9K

Cap Rate 7%

$320,671 $320.7K

Cap Rate 9%

$249,411 $249.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,669 SF

Gross rent

$32.0K $19.20/SF

− Vacancy

−$2.1K −$1.27/SF

EGI

$29.9K $17.93/SF

− OpEx

−$7.5K −$4.48/SF

NOI

$22.4K $13.45/SF

Area

Benton County, AR

Vacancy

6.60%

Lease Rate

$19.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$448,940

Cap Rate 7%

$320,671

Cap Rate 9%

$249,411

Alternative Uses

Best Use

Specialty Retail

$320.7K

$280.6K – $374.1K (±1% cap)

NOI $22,447 @ 7.0% cap · market cap 8.02%

Second Best

Retail

$271.2K

$237.3K – $316.5K (±1% cap)

NOI $18,987 @ 7.0% cap · market cap 6.78%

Theoretical Best

Office A

$458.7K

$401.3K – $535.1K (±1% cap)

NOI $32,106 @ 7.0% cap · market cap 11.47%

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

Grocery and convenience stores

Suggested Use

Top Pick Dental Office Real Estate Agency Building Supply Auto Repair Shop Law Firm Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

9,683 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

237

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 72736, AR

7,046

Population

2,682

Households

2.6

Avg Household Size

38

Median Age

24%

College-Educated

88%

High-School Grad

98.5 sq mi

ZIP Area

72

Density / Sq Mi

$73,565

Median Household Income

$43,892

Median Earnings

$1,012

Median Rent

$277,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - The property includes an EPA clearance letter and an approximately 80% complete food-truck parking layout.

Where is this grocery and convenience store located?

The property is located at 204 NE 1st Ave Gravette, AR.

What is the asking price?

The asking price for this property is $279,900.

What are key features of this property?

This property features: 1,669‑square‑foot building constructed in 1980; Former fuel tanks removed; EPA clearance letter included; Approximately 80% complete layout for food‑truck parking behind the building