Historic Mixed-Use
For Sale
$1,099,000
206 W Walnut, Rogers, AR 72756
CommercialSale, Rogers, AR
Property Size3,672 SF
Lot Size0.06 Acres
Price / SF$299.29
Days on Market118
Property Features for 206 W Walnut
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking
2
Parking features
Parking Lot, On Street
Security features
Security
Appliances
GasWaterHeater
Lot features
Central Business District, City Lot
Directions
From Walnut and Hwy 71 go East on Walnut to 206 Walnut
Standard status
Active
APN
02-02235-000
Size
3,672 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
PLAT 3/14/1881 B-128 W 25'E 80'L1, PT L 4 PT N 1/2 L 5 BL 9ROGERS ORIG
Tax Annual Amount
3447
Legal Description
PLAT 3/14/1881 B-128 W 25'E 80'L1, PT L 4 PT N 1/2 L 5 BL 9ROGERS ORIG
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1909
Floors in Building
2
Flooring type
Carpet
Building materials
Brick
Listing Agency:
Collier & Associates- Rogers Branch
(479) 274-0977
Listed By:
Duane Wright · License #EB00082647
(479) 633-1105
Added: Jun 9
Changed: Sep 2
Last Checked: Oct 4 at 5:06PM
MLS# 1350967
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.
Located at 206 W Walnut in Rogers, this brick mixed-use building contains 3,672 square feet across two levels. The 2,611-square-foot main floor is commercial space and is currently leased to The Music Depot. The upper floor measures 1,061 square feet and is configured for living quarters, offices, or additional income use. Separate HVAC systems serve the commercial and upper levels, and the property includes security enhancements, central heating, central air, electric cooling, a gas water heater, and a TPO membrane roof installed in 2017 with 2-foot ISO insulation.
The 0.06-acre property sits in downtown Rogers’ Entertainment District, with visibility along W Walnut Street and adjacency to a public parking area. Dining, shopping, entertainment, parks, and the Railyard Entertainment District are within walking distance. Public water and public sewer serve the property, with parking available in a lot and on the street.
The 0.06-acre property sits in downtown Rogers’ Entertainment District, with visibility along W Walnut Street and adjacency to a public parking area. Dining, shopping, entertainment, parks, and the Railyard Entertainment District are within walking distance. Public water and public sewer serve the property, with parking available in a lot and on the street.
Key Highlights
- 3,672‑square‑foot brick mixed‑use building on a 0.06‑acre parcel
- 2,611‑square‑foot commercial main level leased to The Music Depot
- 1,061‑square‑foot upper level configured for living quarters or offices
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
$41,773
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
3.80%
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%
$835,460
$835.5K
Cap Rate 7%
$596,757
$596.8K
Cap Rate 9%
$464,144
$464.1K
Market Conditions
NOI Build-Up for 3,672 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
$63.9K $17.40/SF
− Vacancy
−$4.2K −$1.15/SF
EGI
$59.7K $16.25/SF
− OpEx
−$17.9K −$4.88/SF
NOI
$41.8K $11.38/SF
Area
Benton County, AR
Vacancy
6.60%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
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%
$835,460
Cap Rate 7%
$596,757
Cap Rate 9%
$464,144
Alternative Uses
Best Use
Retail
$596.8K
$522.2K – $696.2K
NOI $41,773 @ 7.0% cap · market cap 3.80%
Second Best
Mixed Use
$365.1K
$319.5K – $426.0K
NOI $25,557 @ 7.0% cap · market cap 2.33%
Theoretical Best
Office A
$1.01M
$883.0K – $1.18M
NOI $70,636 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
37k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 73%
Dining 13%
Home Improvements & Furnishings 12%
Beauty & Spa 3%
Casey's
Shops & Services
17,840 visits/mo
0.3 miles
SUBWAY
Dining
4,951 visits/mo
0.5 miles
True Value Hardware
Home Improvements & Furnishings
4,277 visits/mo
0.4 miles
AutoZone
Shops & Services
4,056 visits/mo
0.5 miles
Arvest Bank
Shops & Services
2,728 visits/mo
0.1 miles
Demographics for 72756, AR
41,875
Population
17,225
Households
2.4
Avg Household Size
37
Median Age
24%
College-Educated
86%
High-School Grad
129.9 sq mi
ZIP Area
322
Density / Sq Mi
$70,900
Median Household Income
$37,510
Median Earnings
$914
Median Rent
$243,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick construction, separate HVAC systems, and public parking support the building’s two-level commercial and upper-floor configuration.
Where is this mixed-use property located?
The property is located at 206 W Walnut Rogers, AR.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 3,672‑square‑foot brick mixed‑use building on a 0.06‑acre parcel; 2,611‑square‑foot commercial main level leased to The Music Depot; 1,061‑square‑foot upper level configured for living quarters or offices
