Multi-Tenant NNN Flex
For Sale
$2,230,000
21118 Wade Rd, Springdale, AR 72764
Commercial center includes multiple suites, NNN leases, and an available space for lease-up.
Property Size11,998 SF
Lot Size3.48 Acres
Price / SF$185.86
Days on Market31
Property Features for 21118 Wade Rd
General Information
Standard status
Active
Size
11,998 SF
Lot size
3.48 Acres
Occupancy
79%
Additional Details
Gross Income
$127,728
Highway Access
Yes
Building Details
Year Built
2023
Building Size
11,998 SF
Tenancy
Multi
Listing Agency:
Black Diamond Mergers & Acquisitions, LLC
(479) 365-4307
Listed By:
Christian Baldwin
Source:
Pcsingtolittlerock
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 28 at 12:52PM
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.
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 = 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
$73,467
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
3.29%
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%
$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
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
$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 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%
$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
NOI $73,467 @ 7.0% cap · market cap 3.29%
Second Best
Industrial
$1.00M
$876.8K – $1.17M
NOI $70,145 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,432 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
