Convenience Store
For Sale
$299,000
204 NE 1st Avenue, Gravette, AR 72736
COMMERCIAL - Gravette, AR
Property Size1,669 SF
Lot Size0.62 Acres
Price / SF$179.15
Days on Market375
Property Features for 204 NE 1st Avenue
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning description
Commercial
Lot features
Central Business District, Corner Lot, City Lot
Directions
From I-49 take Exit 100 West on Hwy 72 to 4 way stop Hwy 72/59 right on Hwy 59 one block on right corner Hwy 59/1st Ave and Akron St
Standard status
Active
APN
11-00234-000
Size
1,669 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Description
12-20-33
Tax Annual Amount
1325
Legal Description
12-20-33
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Flooring type
Concrete
Listing Agency:
Equity Partners Realty
(479) 750-9500
Listed By:
Vernon Schmiegelow · License #SA00016685
(479) 640-5219
Added: Aug 11, 2025
Changed: Aug 19
Last Checked: Aug 20 at 8:06AM
MLS# 1317711
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 1,669-square-foot former convenience-store property was built in 1980 and features a concrete floor, central heating, central air, and public water. The former fuel tanks have been removed, and an EPA clearance letter conveys with the property. An ice machine is included in the sale.
The 0.62-acre site is located at 204 NE 1st Avenue in Gravette, Arkansas. The 2023 traffic count for the road was 9,683 vehicles daily. Behind the building, the layout is approximately 80% complete for food truck parking, providing an additional site feature for commercial use.
The 0.62-acre site is located at 204 NE 1st Avenue in Gravette, Arkansas. The 2023 traffic count for the road was 9,683 vehicles daily. Behind the building, the layout is approximately 80% complete for food truck parking, providing an additional site feature for commercial use.
Key Highlights
- 1,669‑square‑foot former convenience‑store building built in 1980
- 0.62‑acre property at 204 NE 1st Avenue, Gravette, AR 72736
- Former fuel tanks removed; EPA clearance letter conveys with the property
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
$22,447
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
7.51%
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%
$448,940
$448.9K
Cap Rate 7%
$320,671
$320.7K
Cap Rate 9%
$249,411
$249.4K
Market Conditions
NOI Build-Up for 1,669 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
$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 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%
$448,940
Cap Rate 7%
$320,671
Cap Rate 9%
$249,411
Alternative Uses
Best Use
Specialty Retail
$320.7K
$280.6K – $374.1K
NOI $22,447 @ 7.0% cap · market cap 7.51%
Second Best
Retail
$271.2K
$237.3K – $316.5K
NOI $18,987 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$458.7K
$401.3K – $535.1K
NOI $32,106 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9,683 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
257
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Harps Food Stores — 200 1st Ave SE, Gravette, AR 72736
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Former convenience-store building with central HVAC, public water, 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 Avenue Gravette, AR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,669‑square‑foot former convenience‑store building built in 1980; 0.62‑acre property at 204 NE 1st Avenue, Gravette, AR 72736; Former fuel tanks removed; EPA clearance letter conveys with the property
