Building Details

Year Built 2023

Building Size 11,998 SF

Tenancy Multi

Listing Agency: Black Diamond Mergers & Acquisitions, LLC

Listed By: Christian Baldwin Show Phone

Source: Pcsingtolittlerock

Added: Jul 29 Changed: Oct 10 Last Checked: Oct 7 at 4:31PM

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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 Black Diamond Mergers & Acquisitions, LLC

Investment Insights

Based on property information with market context.

Built in 2023, this flex space center contains 11,998 square feet across a multi-tenant configuration. The property has 10 tenants and is 79% leased, with one 2,400 SF suite available for lease-up. Each tenancy is structured under an NNN lease, supporting minimal landlord responsibilities.

The 3.48-acre site fronts Highway 412 in east Springdale, Arkansas, with approximately 19,000 vehicles per day. The combination of established occupancy, an available suite, and a defined NNN structure provides a clear operating profile for the next owner.

Key Highlights

• 11,998‑square‑foot flex space center built in 2023
• 10 tenants occupying the property under NNN leases
• 79% leased with one 2,400 SF suite available for lease‑up

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$73,467

Cap Rate

3.29%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,469,340 $1.5M

Cap Rate 7%

$1,049,529 $1.0M

Cap Rate 9%

$816,300 $816.3K

Market Conditions

NOI Build-Up for 11,998 SF

Gross rent

$96.5K $8.04/SF

− Vacancy

−$10.0K −$0.84/SF

EGI

$86.4K $7.20/SF

− OpEx

−$13.0K −$1.08/SF

NOI

$73.5K $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%

$1,469,340

Cap Rate 7%

$1,049,529

Cap Rate 9%

$816,300

Alternative Uses

Best Use

Warehouse

$1.05M

$918.3K – $1.22M (±1% cap)

NOI $73,467 @ 7.0% cap · market cap 3.29%

Second Best

Industrial

$1.00M

$876.8K – $1.17M (±1% cap)

NOI $70,145 @ 7.0% cap · market cap 3.15%

Theoretical Best

Office A

$3.22M

$2.82M – $3.76M (±1% cap)

NOI $225,432 @ 7.0% cap · market cap 10.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

NWA Flex Space Shopping Center & Mall Buffalo River Plastics Factory JP&C Auto Group Car Dealership The DECK Company, LLC ... Construction Company

Suggested Use

Top Pick Storage Facility Auto Repair Shop Food Market

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

79%

Occupancy

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Commercial center includes multiple suites, NNN leases, and an available space for lease-up.

Where is this flex space located?

The property is located at 21118 Wade Rd Springdale, AR.

What is the asking price?

The asking price for this property is $2,230,000.

What are key features of this property?

This property features: 11,998‑square‑foot flex space center built in 2023; 10 tenants occupying the property under NNN leases; 79% leased with one 2,400 SF suite available for lease‑up